Page 67 - M1_Insurance Introduction Notes

Steps in buying an insurance policy:

 The proposal form is filled correctly and truthfully.

As one will be responsible for any information in

this document as it bears his/her own signature.

 A disclosure of “all material information” about

the risk that one wants to be covered should be

done

 Selection of the terms of the policy as per ones

needs is done

 Selection of the amount of premium one can

afford to pay

 To choose between Single Premium and Regular

Premium

 To choose one’s premium paying frequency such as

annual, half-yearly, quarterly or monthly

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