CUSTOMER
RIGHTS &
DUTIES

It is essential for every individual who wishes to purchase an insurance policy to be well acquainted with the rights and duties attached to it. This will help him or her make informed choices and also know when he is discriminated against. Knowing the rights and duties will furthermore help them pick the right insurance policy, the precautions to be taken and the steps involved. As a smart consumer, you should be aware of your duties and rights about your policy coverage, claims and grievance redressal. The rights and duties during various stages of the life-cycle of insurance policy are briefly discussed here:

  • Fill the proposal form yourself correctly and truthfully. You will be responsible for any information in this document as it bears your signature.
  • Disclose "all material information" about the risk you want to cover
  • Ensure to register nomination under your policy. Fill the nominee's name correctly.
  • Do not leave any column blank
  • Do not sign a blank proposal form
  • Once the proposal is submitted, you should hear from the insurance company in 15 days about their decision on issue or refusal of grant of insurance
  • If not, take up the matter in writing
  • If any additional documents are asked for, comply immediately
  • If the insurer refuses grant of insurance, it should be informed in writing with reasons
  • The policy document should reach you within a reasonable period of time after the proposal is accepted by the insurance company
  • If not received, contact the insurance company about it
  • When policy document is received, check it and be sure that the policy is the one that you wanted
  • Go through all the policy conditions and be sure that these are the same that were explained to you by the intermediary/ insurance company official at the time of sale
  • In case of doubts, contact the intermediary/ insurance company official immediately for clarification
  • Wherever possible, contact the insurance company directly
  • Be wary of the unauthorized calls
  • Be suspicious in case of lucrative offers or low premiums; call the insurance company to check the credentials, in case of a doubt
  • Do not sign blank insurance proposal form
  • Avoid paying premium in cash. Pay by cheque in favour of insurance company
  • Request for receipt as evidence of payment of premium
  • Examine the policy after receipt of the same and ensure that the requested coverage and premium terms are mentioned correctly