Alterations may be necessitated in the schedule of the policy, its statements and declarations or even in its conditions and privileges. It is important for students, teachers, and customers to learn about the basics of alterations as they help in better enjoying life insurance benefits under a contract. There are many alterations in insurance policies that can be noted on the certificates.

Any variation to the text of a life insurance policy, including a correction, is known to insurance professionals as `Alteration'. A policy evidences a life insurance contract between the insured and the insurer. A change or variation maybe called for on account of several reasons.

Matters stated in a life insurance policy are governed by Regulation 6 of the IRDA (Protection of Policyholders' Interests) Regulations 2002. Alterations maybe necessitated in the schedule of the policy, its statements and declarations or even in its conditions and privileges. It is not only important for a student and a teacher, but also equally important for a customer to learn about the basics of alterations as they help in better enjoyment of life insurance benefits under a contract.

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