If I asked you to fill out a form in which you have to answer ten objective and ten real questions, would you even consider filling it yourself ? No, that's not how you fill out the form when you take out a life insurance or health insurance policy. We are lazy in filling up such forms. Why ? Obviously the reason for not doing so is that the process is lengthy. That's why the agent does the work for you. Now all the power comes to him. Some agents focus solely on their mission and all agents make sure that no information about the circumstances surrounding the cancellation of such a policy application or any additional conditions in their premium should reach the client. They prefer to write "No" in most of the questions so that the policy is given without any fuss. For example, do you smoke? Do you suffer from any illness? Have your parents died of a serious illness? You don't even bother to check it, as you have become impatient to submit those papers to your office for a tax claim.
The issue of claim cancellation due to incorrect information in the form is very serious. Your policy claim is canceled due to incorrect information in the form provided by you. You have not completed the actual insurance process. Make sure you fill out the form yourself or your agent will fill out your form in the event of an emergency but before handing over your form to the insurance company everyone should check every issue thoroughly or your agent will ask you every question in your presence and correct answers in the form. Writing should be taken care of.
Here are some cases when the policyholders got into trouble because the agent wrote incomplete or incorrect details in the form. Alpesh, 40, has SBI's 15 L Saif Easy Shield insurance term plan for 30 years. For which they pay a premium of Rs.4953 per year. After realizing the importance of filling the form himself, he read the form of his policy (which is scanned along with the policy). The form was filled out by the agent and stated that the policyholder was a non-smoker.
Vinay, 35, recently tried to buy a term plan from LIC's direct agent. The agent did not allow Vinay to fill out the form and told me to sign only that. When it came to providing information about the family in the form, he wrote that the cause of death of the family was old age. LIC does not do special checking if you are over 60 years of age. Vinay did not like such a comment and did not take the policy.
Should be a funny case. Rhea just signed up for Kotak's policy. The agent filled out the form manually. Rhea then urged him to make amends, saying that he was not ready to make amends if his parents died due to high blood pressure. In addition, the agent wanted to write the address and name of his previous job, even though Rhea had changed jobs. He gave the reason that he is lazy or can not be written as changed job.
In all three cases you can see that the agent fills out the form without talking to his client. He is not even interested in discussing it. Maybe they are used to doing this or they are sure that no client will pay attention to all these things but sometimes and at some stage this thing can cause you great harm. How many of you have not filled out or even checked this type of form? Keep in mind that this is your form and that any information contained in it is provided by you and only you. Then it doesn't matter if you fill it or not.
Note
The issue of claim cancellation due to incorrect information in the form is very serious. Your policy claim is canceled due to incorrect information in the form provided by you. You have not completed the actual insurance process. Make sure you fill out the form yourself or your agent will fill out the form in the event of an emergency but everyone should check every issue thoroughly before handing over your form to the insurance company.
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