PJ & Associates- Wealth Management, Family welfare Consultant, Investment Portfolio Advisor Estate Planning, Tax Filing, Life/ Health/ Asset Insurance, Risk & Liabilities Strategist

Call (+91) 9971486715 … Referral Code : ADCA22562 (or) ADCA109315 (or) 212326 .. Get 'One Code' to work with 'Multiple' Insurers across 'Any' Insurance Vertical … Inspiration Joint – Launch Your Presence ……………. Orange Cub – Prevention of Cruelty Against Animals …… "Powered By Ideas, Ideals & Idealism" – A Blog By Prerna Jain !!

Before choosing a policy

Questions to Ask Insurance Agent

Before choosing a policy

How to interact with those who introduce you to life insurance
Check to see valid license and authorization for the business.
For example:an Intermediary should be licensed to sell life insurance or general insurance or both (holding a composite license).

Check whether intermediary has good knowledge of various insurance products/policies

Your needs and objectives should be understood.

Beware of tall promises and over-selling tactics. Consider only what you can afford.

Ask questions and understand the policy terms and conditions of the policy in detail.

Understand your commitments. Know amounts that you have to bear not only when you take the policy but when you surrender it or make a claim

Get the intermediary to explain the full facts of the products, scope of cover and exclusions, as applicable. Compare with brochures and sales literature pertaining to the product you are considering or the intermediary is trying to sell.

Insist on quality delivery and timely service. Tip: You can judge this by the turnaround time during the pre-application period when intermediary is dealing with you.

Never ever sign a blank proposal form. Fill it yourself. If you find terms in the proposal form that you do not understand, ask the intermediary to explain it to you.

When you make premium payments through an Intermediary, check whether he is authorized to do so by the insurance company and insist on a duly signed receipt immediately.

After receipt of your policy, go through it thoroughly and if you do not understand certain terms contact your intermediary and get them explained. Remember, for life insurance and for health insurance policies of a term of three years or more, there is a free-look period within which you may return the policy if you do not agree with the terms and conditions therein.

Ask the questions about documents and procedures involved in making a claim and understand them completely. In the event of a claim, there may be other agencies you may have to intimate apart from the insurance company. Get complete details about what you are expected to do.

If you feel that your insurance introducer is not contactable or is unable to assist with your specific need, do contact the customer service help desk and talk to company representatives directly. If in doubt of any kind, you can also contact the insurance governing body – the IRDA.
Unit Linked Insurance Policy (ULIP)
These policies offer a combination of investment and protection where the investment risk is borne by the investor. A choice of funds is provided with the flexibility to switch between them during the policy term.
The value of a ULIP is the prevailing value of units you have invested in the fund, which itself depends on fundperformance. In the event of insured’s death or permanent disability, the policy will provide the Sum Assured (to the extent covered) to the insured’s family.
Questions to ask while buying a ULIP.

The charges applicable
Fund options available
Switching between funds
Benefits if you: discontinue / surrender / make partial withdrawals
A ULIP has degrees of risk and rewards. Various charges are applicable to the premium paid and only the balance premium is invested in the fund/funds chosen. It is important to clarify with your insurer or agent, the exact charges that you have to incur.
It is important to assess your risk appetite and investment horizon before deciding to buy a ULIP policy. You must also read the terms and conditions of the policy carefully to understand the features of the policy including the lock-in period, surrender value, surrender charges etc.
Almost every kind of policy mentioned above can also be offered under ULIP plans.

Leave A Comment !!!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


This entry was posted on November 24, 2018 by in Uncategorized.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 2,014 other followers


Things And Such!!


My Twitter Timeline


My Portfolio

Contact Me

Page 2 Stage, Twiddles, Devil 743, E-Prerna, Chinminpoo, Inspiration Joint- Launch Your Presence, Orange Cub – Prevention of Cruelty Against Animals & Helping The Strays, PJ & Associates- All About Financial Planning- Equity/ Insurance/ Mutual Funds/ Property Services/ Loans!!

Follow PJ & Associates- Wealth Management, Family welfare Consultant, Investment Portfolio Advisor Estate Planning, Tax Filing, Life/ Health/ Asset Insurance, Risk & Liabilities Strategist on WordPress.com

Hours & Info

10 am- 9 pm
November 2018

Training Videos

Youtube Videos

Happy Holi To All The Readers Of My Blog!!

Thought For Diwali :-)

Blog Stats

  • 37,365 hits, thank you friends

Follow me at Twitter

Proud To Be IndiBlogger

Lets Be Friends On Facebook

Connect With Me At LinkedIn

Lets Meet At StumbleUpon

Follow Me At Pinterest





%d bloggers like this: