Proposal Forms – Meaning

Proposal forms

The proposal form contains questions designed to draw material information regarding the particular risk proposed for insurance. The number and nature of questions vary according to the particular class of insurance concerned. Proposal form is not used in cargo insurance; instead a duly filed questionnaire is collected. As per IRDA regulations proposal forms are used in all classes of insurance except cargo. Proposal forms are also used in marine hull insurance. Generally the following questions are common in proposal forms.

• Name of the proposers in full.
• Address of the proposer.
• Occupation or profession or business of the proposer.
• Previous and present insurances and full details of the losses suffered by him whether or not they were insured.
• Insured sum.
• Signature, date and in some cases agents
• Certain special questions depending upon the class of
• The main purpose of insurance proposal form is to provide all material information to the insurers. The form also includes declaration by the insured that the answers are true and accurate and that he agrees that the form shall be the basis of insurance contract.

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