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Why Address is important while buying an Insurance Policy?

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Text transcription of the above video: Why address is important while buying an Insurance Policy?

Hello, Shailesh from Insurance Samadhan! While filling the form, there are some aspects that need to be filled with utmost care. One of the aspects is address. There are three elements of Address – Postal Address, E-mail Address, and your contact number. 

Now, here comes the question – why is postal address important? Insurance is not a contract for a short span of time. It is a contract for a longer period of time – 10 to 15 years or maybe more. Companies need to give information related to your insurance from time to time and that is why it is important for you to mention your postal address. If your address is wrongly mentioned, then you will not be able to receive all the necessary information like renewal from time to time.

The second important thing is the Email address. Make sure to provide the email which is in use by you and which has your access.

The next crucial piece of information is your phone number. You should always give the right phone number which is in use by you because your phone number is your most important identity. Insurance companies send important SMS and reminders over phone numbers. In case you are changing your phone number, make sure to inform the Insurance company that your phone number is changed.

Hope this information was useful to you!

Thank you!

Also Read:  How much sum assured you should invest in?

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