An insurance proposal form is a document which presents an insurance plan to a potential customer and has some questions which must be answered by the customer about himself and the asset to be insured. The purpose of an insurance proposal form is find out the risk associated with insuring that particular asset and then analysing whether this case will be profitable for the insurance firm or not. Depending on the responses of the customer, the firm can come up with a policy which will suit the requirements and also reach a profitable premium amount which has to b paid by the policyholder in return for getting his assets secured.
Sample Insurance Proposal Form:
INSURANCE PROPOSAL FORM
Name of company to be insured: ________
Date when company was established: _________
Email ID: __________
Please give full names and designations of owners and partners of the company.
Description of products and activities: ____________
Estimated annual turnover: __________
Previous year’s turnover: _________
Name and amount of last three big contracts: ____________
What is the average contract size? ___________
Mention the states where the company offers services. ___________
Name principal cities where the company has its centres. ____________
Give the name of present insurance policy and the policy number. _________
Are you going to renew the present policy or want to cancel it? Yes _____ No ________
Is the equipment in your factory regularly checked and inspected? Yes ____ No ______ How often? ______
The proposer agrees that the statements mentioned in the proposal are true.