Select the Correct Statement.
A)The Policy Document has to be signed by a Competent Authority, but need not be compulsorily stamped according to Indian Stamp Act.
B)The Policy Document has to be signed by a Competent Authority, and should be stamped according to Indian Stamp Act.
C)The Policy Document need not be signed by a Competent Authority, but should be stamped according to Indian Stamp Act.
D)The Policy Document neither needs to be signed by a Competent Authority, nor it needs to be compulsorily stamped according to Indian Stamp Act.

Question

Quizplus · Accepted Answer

In India, policy documents, especially in the context of insurance, are required to be both signed by a competent authority to validate the document and stamped according to the Indian Stamp Act to ensure its legal and formal recognition.