Documentation - Proposal Stage

Prospectus

It is a formal legal document used by insurance accompanied that provides details about the product

Prospectus explains the below:

• Terms and Conditions
• Scope of benefits - Guaranteed and non - guaranteed
• Entitlements
• Exceptions
• Whether the plan is participative or non participative

Proposal Form

The insurance policy is a legal contract between insurer and the policy holder. As is required for any contract, it has a proposal and its acceptance. The  application document used for making the proposal is commonly known as the 'proposal form'

Agent's Report

The Agent is the primary underwriter. All material facts and particulars about the policy holder relevant to risk assessment need to be revealed by the agent in his/her report,