The life insurance company collects
a report from its intermediary on the proposer, his income, habits, social
status etc that will also contain a positive recommendation on granting of life
cover to the proposer or life proposed. In every case it may not be the
proposer’s life that is covered. The proposer may be an employer and the life
to be covered may be that of one of the employees. A father may propose life
cover on the minor son’s life or a husband may propose life cover on his wife’s
life. In all such cases proposer and life proposed are different. And in these
cases form for ‘proposal on another life’ is used.
The intermediary may be an agent,
corporate agent, bank (bancassurance) or broker. Here we are considering a
proposal solicited and procured by an Agent. So the report is given by the
Agent to the insurer. Insurers have prescribed specific forms for Agent’s
confidential report.
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