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FINANCIAL QUESTIONNAIRES |
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| Q1. Why should I protect myself and my family with life insurance? To plan for the expected - death, retirement, children's education - and the unexpected - accidental death, critical illnesses, disability etc. In all these instances, additional hardship will follow you and/or your family if you/they are unable to shoulder the financial burden. A balanced portfolio to cover all the above possibilities is crucial. Your independent adviser will be able to plan a suitable life program based on what you need, your priorities and budget. Q2. If I decide to insure, how much should I protect myself for? As much as needed to cover all possible contingencies or as much as you could afford. But if you cant afford that much, we recommend starting small. Some protection is always better than none. You can always buy more protection when you are able to afford it later. At the least, prepare to be paid for a year of your income if face with any contingencies. Q3. What is the right age to start buying life insurance? The younger and healthier you are when you start a policy, the cheaper it will be and the bigger the benefit in the long term. So it makes perfect sense to take up a policy as soon as possible. If you are below 16 years old, your parents can buy a policy for you as a Third Party Policy on your behalf. When you reach 21, your parent can give you the right to own the policy. If you are above 16 years old, you can buy a policy on your own; all you need is your parent's consent. Q4. If I give up my recently purchased policy, will I get any money back? Under the "Free-Look" provision of the privileges and conditions of your life policy, you are entitled to a full refund of your premiums, less any medical fee incurred if you withdraw your application within 14 days from the receipt of the policy document. This provision is in accordance with the Life industry practice. Q5. If I am to travel overseas for study/work, what should I do? Simply inform your IFA Rep and he/she will do the necessary to inform the relevant insurance company/ies about your overseas journey and will allow your IFA Rep and insurance companies to update your new address so that future correspondences can be forwarded to you without any hitch. Q6. How do I make a claim? Please contact your IFA Reps. He/she will advise you on the types of documents required and will assist you with the claim arrangements. |
