Client insurance selection

Agents must see potential clients

Before company of life insurance publish the insurance policy to a client candidate, company will do with refer to process to assess how far the policy according to client candidate condition and requirement. Process select and analysis done to determine competent the insured candidate to buy insurance policy

There are some fundamental matters to determine the eligibility process, for example do the insurance program we buy according to requirement and ability of our finance. Besides do our health conditions as the insured candidate according to the condition qualified in program the insurance?

Generally process the done by selection of company of life insurance is selecting the risk (underwriting).
Underwriting done before company take one of three decision alternative.
First, company accepts us as policy holder and publishes the policy we wish.
Second, company delay the process approval of publication of policy.
Third, company refuses proffering of the insurance we do. In course of the selection, company is also will determine the selected condition and the premium storey; level imposed to policy holder.
Why process the selection must be done company of life insurance? What do also the purposes will be reached?

There are some the principles become the base the importance of process select the risk, for example well-balanced contribution principles and principle adverse selection.

Contributions principle the well-balanced express, every the insured give the contribution to company of life insurance according to owned by risk proportion of it. In this case company of life insurance has to can estimate possibility of loss referring to the risk owned by the insured candidate. Here company of life insurance applies the carefulness principle through process select and risk clarification to immeasurable of the insured candidate.

Through this process, company of life insurance can estimate the burdensome loss possibilities by the insured to company. Besides, company can determine premium according to the risk.

Principle adverse selection happened because the insured candidate have the larger ones risk or tendency to raise the larger ones insurance application compared to people who have the standard risk. Indisposed the insured candidates will interest to buy the insurance program. On the contrary if the insured candidate condition is good stamina tend to delay have insurance until they shall get something that not to advantage of condition of health.

To avoid of this speculation, company of life insurance will process the selection before publishing the policy. When immeasurable of condition adverse selection is not detected careful, company insurance can experience of loss because external level of claim of estimate before all. Less careful of analysis can happened at the time of stipulating of calculation of policy condition and premium. This experience will push company to boost up the premium. If this matter happened continuously, life insurance industry can annoyed because premium level tend to don't reflect the risk truthfully.



Where from company of insurance get the information for the requirement of analysis both of elementary principle of the selection process? Information of the insured candidate got from some sources, one of them from filled by application form of the insured candidate. Every the insured candidate raise the insurance program obliged to fill the form. Form is obliged to be signed by the policy holder candidate and witnessed by the trusted people.

Generally, company of life insurance is also oblige the agent manage the client to sign the form. Application form is application written from the insured candidate to company of insurance to get the insurance program they wish. This form later also functions as agreement base between companies and client.

Urgency of the selection process, we are as policy holder candidate share conducive in supporting the process. Program life insurance is an agreement made with out most good faith between all parties. Good faith intention which constitute is same activity among companies of insurance and policy holders will deliver kindness and luck for both parties.

As client candidate, we have to mean business, bewared of, and careful in following the selection process, including moment answer all questions at complete application form and correctly. We is obliged to lay open all the facts having the character of the material. When we are designed hide the fund aspect asked at form, this matter generate the problem while of raising the claim.

That is the reason; fill all careful asked information as according to real situation. Entangled the insurance agent in course of admission filling of application!
Thereby, easy us do admission filling of application form, at the same time avoid from problem later.