Application Form
What is Application Form?
The application form comprises all the documents submitted by the proposer to the insurance company for the issuance of a life insurance policy. These documents serve as the foundation of the insurance contract.
In the context of college admissions, the submission of high school certificates, father's salary certificate, proof of achievements, etc., is essential for verifying the applicant's background and establishing a connection with the applicant.
Regarding insurance, an application form serves as a comprehensive document containing all the details about the proposer. It represents a formal request made by either the agent or the proposer to the insurance company for the issuance of a policy.
The application form is appended as an annexure to the policy and plays a crucial role in processing claims. It must be signed by the applicant (proposer/agent) to formalize the receipt of the insurance policy.
For instance, when Amit sought a health plan through an agent, he was provided with a proposal form. After completing all the necessary information, Amit submitted the proposal along with the application form to the insurer. Following the assessment of the proposer's application form, the insurance company will decide whether to issue the policy, with the application form becoming an integral part of the policy provided.
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