Transcription of the above video : Must check facts before buying the Insurance
Hello, Shailesh from Insurance Samadhan. Today, I will be writing about the “must check” facts before buying Insurance. The first factor which should be kept in mind is that you should buy Insurance according to your need. Insurance is a contract between two parties, where one party agrees to pay a regular premium and another party agrees to compensate the loss on the occurrence of a promised event. Now, this promise is done on what basis? The promise is done on the basis of the declarations you have mentioned in the proposal form at the time of proposing insurance. This proposal form is the most important legal document of your Insurance. The form will demand two types of details – the first one being about your own self and the other one being your personal details like your weight, height, physique, occupation, and many more. These details will be filled by you only because apparently, you will be the one knowing about these details. Must check facts before buying the Insurance
The insurance company evaluates your details and declarations and then approves your Insurance. If you are found filling in wrong details or declarations, your contract is annulled/canceled immediately.
I will provide you necessary information about form-filling and how to avoid mistakes while filling the form.
It becomes very important for you to check up on the person, agent, broker, advisor through whom you are Insured. The middle-men has to be loyal and trustworthy otherwise you can be in trouble. The next factor which should be kept in mind is that do not fall prey to any type of greed. Promises like – Bonus and extra benefits are often made by the middle-man to get the customers trapped and induce them to pay extra money.
These are the factors that should be always kept in mind and be cautious about while buying Insurance.
Must check facts before buying the Insurance