An insurance proposal format serves as a guideline to be followed when creating an insurance proposal. It gives us a list of things to write and describes how to write them in order to make the insurance proposal more effective. Insurance proposals are created by insurance firms where the agent offers the customer a policy which will suit the requirements of the customer by insuring the asset in return for a premium amount. The format explains how to formulate an insurance proposal so that the customer understands what is being said in the proposal.
Sample Insurance Proposal Format:
Title of proposal: _____________
Proposal presented by: __________
Date of presenting the proposal__________________
First Paragraph: The first paragraph of the insurance proposal must give a brief introduction of the proposal by describing the various features of the insurance policy. The customer must be acquainted with the insurance company and the basic features of the policy which has been formed keeping in mid the customer’s requirements
Second paragraph: The second para must give an outline of the terms and conditions in details by explaining the policy to the customer. It also mentions how this particular insurance policy will be beneficial to the customer.
Third paragraph: The final para must include other important information like how much premium is to be paid in order to get the asset insured and what should be the mode of payment. The maturity date of the policy, the lock-in period and the minimum amount to be received from the insurance policy must also be mentioned.