Steps, period, documents and methods of applying for insurance

  1. By receiving explanation from life insurance agent or life insurance broker regarding the principle of disclosure in the application form in that if the customer gives any false statement and the Company recognizes the truth, it might be convinced to charge extra premium or decline the insurance application, whereby this contract would become voidable and the Company is entitled to void the contract and deny payment according to the policy.
  2. Customer pays premium to life insurance agent and receives temporary receipt as payment evidence or pays premium to life insurance broker and receives payment evidence.
  3. Customer will be notified by life insurance broker or life insurance agent regarding the right to check policy content which if it is not satisfied, the customer has the right to terminate the contract within 15 days after receiving the policy. ?
  4. Policy will be issued for a customer once the Company received the insurance application form, premium and the Company approved such insurance request. Underwriting period depends on different factors i.e. sum insured amount, health checkup result of the insured, completeness of document for consideration, etc. If the Company has not issued the insurance policy within specified time or declined the insurance application or notified of the underwriting difficulties, it would be considered that the Company has approved the insurance contract which is the latest business practice according to the insurance application form and it will be effective after the end of the 30-day period (thirty days) as stated above.