A sample insurance proposal is an example of an insurance proposal presented by an insurance firm which gives an outline of all the different terms and conditions of the insurance policies offered by the firm to a prospective customer. An insurance proposal must mention the asset to be insured, the premium to be paid by the customer for getting it insured and the list of conditions under which the insurance is applicable, like if the asset is damaged by accidents,  injuries, natural disasters, robberies, riots etc. Some insurance proposals refer to insuring only one asset like a car but there are some which provide overall insurance of more than asset under one insurance proposal.

Sample Insurance Proposal:

Name of insurance firm: Madison Cover Co

Address: 234 Haley’s Drive, Maryland

Insurance proposal prepared on: February 12, 2012

Proposal prepared by: Jake Alloy

Insurance agent, Madison Cover Co

Proposal submitted on: February 15, 2012

Proposal signed and approved by: John Seeley

Regional Manager, Madison Cover Co

Policy name: Be Secured Policy

Purpose: The purpose of this insurance proposal is to lay down the various rules and regulations related to a particular insurance policy and show the customer how this policy will be beneficial to him and meet his requirements

Details of Sample Insurance Proposal:

  • The insurance policy term will be effective from March 1, 2012 to March 1, 2018
  • A premium amount of $20,000 must be paid every year in two installments
  • The customer can renew the policy after the term ends
  • The lock-in period of the policy is 4 years