Proposal Forms

Bayani Gaba-gaba

Before any insurer will cover you, it wants to know exactly who you are, what you own, and what you are asking it to carry. It gathers all of that on one printed sheet: the proposal form. It looks like an ordinary application, yet the small print at its foot quietly turns every answer you write into a promise, and that promise decides whether your claim is ever paid.

In this lesson you will learn what a proposal form is, the five kinds of information it collects, and the work it does for the underwriter who prices your risk. You will see how it puts the duty of disclosure into practice, why the declaration at the bottom matters more than anything above it, and the exact mistakes on a form that let an insurer walk away from a claim.

Manufura

  1. Define a proposal form and describe the information it gathers
  2. Explain the functions and uses of a proposal form in the underwriting process
  3. Explain how the proposal form gives effect to the duty of disclosure
  4. Describe the legal status of the proposal form once the contract is concluded

Takardar Darasi

A driver in Ibadan fills in a motor proposal form. Where it asks whether anyone else will drive the car, she writes that she alone will. Months later her nephew borrows the car, crashes it, and she puts in a claim. The insurer reads the form, points to her answer, and refuses to pay a kobo. She feels cheated, but the ground was laid the day she signed. Every word on a proposal form can be held against the person who wrote it, because the form is where the whole contract of insurance begins. Learn how it works and you learn where cover is won and lost.

Nazarin Darasi

Barka da kammala darasi akan Proposal Forms. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.

Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.

Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.

  1. The document a person completes to apply for insurance cover is the: A. Cover note B. Policy document C. Proposal form D. Renewal notice Answer: C
  2. The person who completes a proposal form is known as the: A. Underwriter B. Proposer C. Broker D. Actuary Answer: B
  3. The clause at the foot of a proposal form that makes every answer a warranty is the: A. Arbitration clause B. Average clause C. Basis of the contract clause D. Excess clause Answer: C
  4. A proposal form gives effect chiefly to the principle of: A. Indemnity B. Utmost good faith C. Contribution D. Subrogation Answer: B
  5. Which of the following is NOT normally a function of a proposal form? A. Supplying information to the underwriter B. Helping to fix the premium C. Paying the claim to the insured D. Providing a record of what the proposer disclosed Answer: C

Littattafan da ake ba da shawarar karantawa

Principles of Risk Management and Insurance
Principles of Risk Management and Insurance
Sunaƙa: Thirteenth edition
Mai wallafa: Pearson
Shekara: 2016
ISBN: 978-0-13-408257-8
Bayanan bayanin.: The standard introduction to risk and insurance, covering risk management, insurer operations and the main lines of life, health, property and liability cover.
Fundamentals of Risk and Insurance
Fundamentals of Risk and Insurance
Sunaƙa: Tenth edition
Mai wallafa: Wiley
Shekara: 2008
ISBN: 978-0-470-08753-4
Bayanan bayanin.: A clear account of the nature of risk and the economics of insurance, written for beginning students across life, health, property and liability insurance.
Fundamentals of Insurance
Fundamentals of Insurance
Sunaƙa: Second edition
Mai wallafa: Himalaya Publishing House
Shekara: 2017
ISBN: 978-93-5097-079-9
Bayanan bayanin.: An accessible treatment of insurance in four parts: the basics of risk, insurance management, life insurance and non-life insurance.

Tambayoyin Da Suka Wuce

Kana ka na mamaki yadda tambayoyin baya na wannan batu suke? Ga wasu tambayoyi da suka shafi Proposal Forms daga shekarun baya.

WAEC SSCE - Insurance - 2017

Tambaya 1 Rahoto

(a)(i) What is a proposal form?
(ii) List four general questions that are contained in a proposal form.

(b) List and explain three documents used in effecting insurance contracts. 
 

Duba Amsa