- Inform the beneficiary of the policy about the benefits and claim procedure.
- Pay your premium regularly on the due dates or at least in the grace period (30 days after due date for annual premium and 15 days for other premium payment period)
- Do not wait for a premium notice. It is your duty to pay the premium when due , whether notice is received or not to avoid lapsation or other penalties
- Do not wait for your intermediary or anyone to pick your cheque. Make your own arrangements for paying the premium on time
- If there is a change of address, please intimate the insurance company immediately.
Nomination:
After the policy is issued, you can change the nomination by:
• Filing a notice of change of nomination and
• Sending it to the insurance company for registering it in their records
• If the nominee is a minor, appoint an appointee to receive any claim paid while the
nominee is still a minor
• Get the appointee to sign in the endorsement showing consent to act as an appointee
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