. HOW TO GET LIFE INSURANCE POLICY

. HOW TO GET LIFE INSURANCE POLICY

The method of procuring life insurance policy is very simple. The mair involved in effecting the life insurance policy are as under:
1 Selection of the company. A person who wants to get his life -r. must select an insurance company which has a good credit standing.

Proposal. The person desirous of being insured has to fill in theProposal Form. He has to abide by the basic principles of insurance explain
the true facts. The concealment of facts will lead to the cancellation of contract
Medical Examination. The company on receipt of the Proposal Formwill get the proposer medically checked up. On receipt of the doctor's report, thecompany will consider the proposal,
Acceptance of the Proposal, On receipt of the Proposal Form and thesatisfactory medical report, the company will issue a Letter of Acceptancerequesting to complete the transaction at the earliest so that the protection andsecurity guaranteed by the policy is issued to him by the company.
Payment of Premium. The risk of life is covered from the date, thepremium is paid. The premium may be paid in easy instalments monthly,quarterly, half yearly, or annually.
6.' Issue of Policy. On receipt of the premium, the Executive Director of Insurance company issues the Life Insurance, Policy of the Insured which states, name, policy number, commencement date, maturity date, amount of premium, name of the nominee