General Insurance involves various forms that serve different purposes such as policy issuance, claim processing, endorsements, renewals, and declarations. These forms help ensure smooth communication and documentation between the insurer and the policyholder.
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Proposal Form
The proposal form is the first step in purchasing a general insurance policy. It collects important details about the insured person, property, or asset that needs coverage. It includes personal details, sum insured, type of policy, and risk details. The insurer evaluates this information to assess the risk and decide the premium. Any misrepresentation in the proposal form may lead to policy rejection or claim denial.
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Policy Schedule Form
The policy schedule form is a summary of the insurance contract issued after the proposal is accepted. It includes details such as the policyholder’s name, policy number, sum insured, premium amount, policy duration, coverage details, and exclusions. This document serves as proof of insurance and must be referred to in case of claims, renewals, or policy disputes.
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Endorsement Form
An endorsement form is used when the insured requests a modification or change in an existing policy. Changes can include updating personal details, changing the sum insured, adding riders, or altering policy terms. This form helps insurers track policy amendments and issue an endorsement document reflecting the requested changes.
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Claim Form
Claim form is used when the policyholder suffers a loss or damage covered under the insurance policy. The form requires details about the nature of the incident, date, time, location, extent of loss, and supporting documents such as invoices, FIRs, or medical reports. This form initiates the claim settlement process and helps the insurer assess liability and compensation.
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Renewal Form
The renewal form is used to extend the validity of an insurance policy after its expiry date. It contains updated details such as previous claim history, policy modifications, and revised premium amounts. Filling out a renewal form ensures continuous coverage and prevents policy lapses. Insurers may offer discounts or revised terms based on claim-free records.
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Declaration Form
Declaration form is used to confirm specific information related to the insured asset or policyholder at periodic intervals. For example, in marine insurance, this form is used to declare the value of shipped goods. Similarly, for group health insurance, employers use a declaration form to update employee details. It helps insurers assess risk exposure and adjust premiums accordingly.
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Nomination Form
Nomination form is used to appoint a nominee or beneficiary who will receive the insurance benefits in case of the policyholder’s death. This form ensures that claims are settled smoothly to the rightful nominee. The nominee’s details, such as name, age, relationship with the policyholder, and contact information, must be accurately filled to avoid legal complications during claim settlements.
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Surveyor’s Report Form
Surveyor’s report form is used when an insurance claim requires a professional damage assessment. This is commonly used in motor, fire, marine, and property insurance claims. The surveyor evaluates the extent of loss or damage, estimates repair costs, and submits a report to the insurer. This form helps insurers determine the validity and amount of claim settlement.
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Grievance Redressal Form
Grievance redressal form allows policyholders to report complaints or disputes related to their insurance policy. Complaints may include claim rejection, unfair deductions, delays in processing, or policy misrepresentation. The insurer reviews the grievance and provides resolution within a specified timeframe. If unsatisfied, the policyholder can escalate the complaint to the Insurance Ombudsman or IRDAI.
- Cancellation Form
Cancellation form is submitted when the policyholder wishes to terminate their insurance policy before the maturity period. The form requires details such as policy number, reason for cancellation, refund request (if applicable), and supporting documents. Upon approval, the insurer processes the cancellation and refunds the premium (if eligible), after deducting charges.
