Copy of proposal

Do you have copies of your past life insurance proposals with you?

 If you do not have with you copies of your past proposal papers many of the statements you make in future proposals will differ from those in the past proposals. The reason is you are giving many details from memory and many times some one else fills the proposal and you put your signature on the proposal. Please remember when you put your signature you are accepting whatever is stated in the proposal.

Your attention is invited to Section 51 of the Insurance Act, 1938 (of India), which deals with Supply of copies of proposals and medical reports: “Every insurer shall, on application by a policy- holder and on payment of a fee not exceeding one rupee, supply to the policy-holder certified copies of the questions put to him and his answers thereto contained in his proposal for insurance and in the medical report supplied in connection therewith.”

From government / government companies one can get copies of documents under Right to Information Act also.  It is always advisable to collect copies of past proposals from your insurer and keep them with you.

Key words:

Life insurance
Copy of proposal
Insurance Act, 1938
Right to Infoormation Act