Академический Документы
Профессиональный Документы
Культура Документы
1. PROPOSAL
A life insurance policy has to be proposed by ab intending policyholder. Therefore, he has to
acquire printed proposal forms, which are available free of cost either with the insurance
company or its agents. The proposer is required to dully fill up the form and submit it to the
insurer with required enclosures. While filing up the form, he must give accurate information on
all the material references.
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4. PROOF OF AGE
The age certificate is an important document in life insurance contract, because it is on basis that
the insurance company estimates probable risk and ascertains the amount of premium to be
charged to the proposer.
5. ACCEPTANCE OF PROPOSAL
The proposal form and the accompanying reports are thoroughly scrutinized by the insurance
company to take the decision on the proposal. If the proposal is good and the medical report and
agent's confidential report are favorable, then only the insurance company accepts the proposal.
6. PAYMENT OF PREMIUM
The payment of the first installment of premium is very important in the life insurance, because
it is from this date that the risk of loss of life is insured. Upon the receipt of the first installment
of premium, a receipt is sent to the policyholder which serves as the acknowledgement of
contract between him and the insurance company.
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