Page 68 - M1_Insurance Introduction Notes

 It is better to opt for electronic payment option

for premium (ECS) for ones convenience, safety

and records

 One should ensure to register nomination under

ones policy

 Medicals if required are done for that proposal

 Underwriting process is completed

 Policy is issued i.e. risk commencement begins.

After buying an Insurance Policy

The policy bond should reach within a reasonable

period of time after the proposal is accepted by the

insurance company

When policy bond is received, it should be checked to

ensure that the policy is the one that one wanted.

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