You may take the effort of sending a bouquet of flowers for your wife's birthday;
however, if you do not give the right address, they may not reach her on time. Similarly,
you may have decided to take up insurance, but filling the right information while
signing up is crucial for it to be effective.
Significance of giving right health/medical information
Many times, insurance agents or family friends may advise you to withhold information
related to a medical condition for fear of paying higher premiums. However, this
is a bad idea. Your insurance company may trace your medical records and reject
your claim eventually. The purpose of getting an insurance policy in such a case
would not be met.
Most insurance policy contracts clearly mention that the claim amount or the sum
assured would not be paid out if correct or complete information related to health
or medical records is not provided.
When you buy an insurance policy, fill in the details very carefully. Make sure
that your medical or health related details are mentioned accurately. If this information
is incorrect or partial, your claim maybe held up.
Significance of giving right contact information
It may seem like a small thing, but providing the right contact details is also
crucial. The insurance company will communicate important updates and details related
to your policy through the contact information that you provide. While filling the
form, double-check your address, phone number and mobile number. If possible, also
provide an alternate number in case the company is not able to reach you on your
phone.
Understanding the policy thoroughly and filling the forms accurately will enable
you to make the best of your life insurance plan.
Guidelines for filling up an insurance form
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Follow the instructions given on the insurance forms
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Clarify any doubts with the insurance company
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Do not give any misleading information
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Pay attention to every detail on the form
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Change any information that is incorrect
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Double-check the details that you have filled