Q. What is the purpose of the standard declaration in the health insurance proposal?

View solution

Q. When does the insurance policy come into force based on the information provided in the declaration?

View solution

Q. Why is it important for the proposer to notify the insurance company of any changes in the occupation or general health of the life to be insured?

View solution

Q. What does the proposer authorize the insurance company to do regarding seeking information?

View solution

Q. Why is the sum insured indicated in all proposal forms?

View solution

Q. In personal lines of insurance like health, what kind of information is typically collected in proposal forms?

View solution

Q. Why is it important to gather information about the proposer's profession, occupation, or business in health insurance proposal forms?

View solution

Q. Give an example of why a proposer's profession or occupation is important in the context of insurance.

View solution

Q. Why does the proposer need to inform the insurance company about his previous insurances?

View solution

Q. What does the proposer need to declare regarding any past insurer actions, like policy refusals or premium increases?

View solution

Q. In the context of personal accident insurance, why does the insurer want to know about other personal accident policies taken by the same insured?

View solution

Q. What information does the proposer need to declare about his claim experience?

View solution

Q. How does the insurance company use the information gathered from the proposal form in the underwriting process?

View solution

Q. What does a Prospectus serve as in the context of health insurance?

View solution

Q. How are premiums usually collected for health insurance policies according to the Insurance Act, 1938?

View solution

Q. When and under what circumstances did the IRDAI allow insurers to collect health insurance premiums in instalments?

View solution

Q. According to IRDAI Regulations for protecting policyholder's interests, what information should a Health Insurance Policy document contain?

View solution

Q. What is the purpose of including the "Provision for cancellation of the policy on grounds of misrepresentation, fraud, non-disclosure of material facts, or non-cooperation of the insured" in a health insurance policy document?

View solution

Q. What is a "condition" in the context of an insurance contract?

View solution

Q. How does a breach of condition affect an insurance policy?

View solution