Policyholders may seek to effect alterations in policy terms and conditions. There is provision to make such changes subject to consent of both the insurer and assured. Some of the main types of alterations that are permitted are: • Change in certain classes of insurance or term (where risk is not increased) • Reduction in the sum assured; • Change in the mode of payment of premium; • Change in the date of commencement of the policy; • Splitting up of the policy into two or more policies; • Removal of an extra premium or restrictive clause; • Change from without profits to with profits plan; • Correction in name • Settlement option for payment of claim and grant of double accident benefit.