Can a policy-holder take the policy document out of the country?
As per the foreign exchange regulations act, life insurance policies are considered as securities, and export of these documents requires the permission of Reserve Bank of India. An export of policy documents without permission tantamounts to violation of exchange regulations. To export a policy document, an application is to be submitted to reserve bank of India giving full particulars of the policy, person to whom the policy is to be sent and reasons therefore.
