What are the ways to effect life insurance?
The ways to effect life insurance is as follows:
1. proposal
2. medical examination
3. acceptance of proposal
4. age proof
5. premium
6. insurance policy
*Proposal:
This proposal form contains a number of questions about the mode of paying premium, family background and also about the health of the person.
*Medical examination :
The medical report of the applicant is forwarded directly to the office of the company by the doctor.
*Acceptance of proposal:
The proposal form is examined by the company and it is accepted only if the company is satisfied.
*Age proof:
The applicant has to furnish proof of his age.
It can be furnished by many ways. for example:
- a certificate of high school or from municipal birth register
- service book
*Premium:
The applicant is intimated, once the proposal form is accepted and also he is asked to make the payment of premium.
*Insurance policy:
It carries the signatures of the officials of the insurance company.
The ways to effect life insurance is as follows:
1. proposal
2. medical examination
3. acceptance of proposal
4. age proof
5. premium
6. insurance policy
*Proposal:
This proposal form contains a number of questions about the mode of paying premium, family background and also about the health of the person.
*Medical examination :
The medical report of the applicant is forwarded directly to the office of the company by the doctor.
*Acceptance of proposal:
The proposal form is examined by the company and it is accepted only if the company is satisfied.
*Age proof:
The applicant has to furnish proof of his age.
It can be furnished by many ways. for example:
- a certificate of high school or from municipal birth register
- service book
*Premium:
The applicant is intimated, once the proposal form is accepted and also he is asked to make the payment of premium.
*Insurance policy:
It carries the signatures of the officials of the insurance company.
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| business consultant in Chennai |
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