Question

Under what circumstances can personal accident policies be issued in foreign currency?

a.

When the policy holder is a person normally resident in India

b.

When the premiums are paid in rupees derived by surrender of foreign currency

c.

When the policy holder is an Indian national

d.

When the premiums are paid in foreign currency or in rupees derived by surrender of foreign currency

Answer: (d).When the premiums are paid in foreign currency or in rupees derived by surrender of foreign currency Explanation:Personal accident policies may be issued in foreign currency if the premiums thereon are paid either in foreign currency or in rupees derived by surrender of foreign currency to an authorised dealer or authorised money-changer. This provision allows for flexibility in currency options for personal accident insurance, subject to regulatory requirements.

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Q. Under what circumstances can personal accident policies be issued in foreign currency?

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