Kathmandu. We all know that death is certain. But none of us know when, how, and there’s nothing we can do about it. What we can do is try to create a risk-free, comfortable, healthy, safe and safe beautiful life by controlling or transferring risks or uncertain losses or accidents that affect our lives. <\/p>\n
With life insurance, it is easy to live a fear-free and happy life financially. However, it is impossible to fully quantify the uncertain risks to human life. We can try to be almost hundred percent safe by determining this risk of life and handing it over to the insurance company in writing, taking into account some important aspects of the potential and reasonable risk. <\/p>\n
In this case, the insurance company will bear the risk and provide financial protection for the payment of the premium. <\/p>\n
Determination of Actuarial Amount{<\/strong><\/span><\/p>\n }<\/p>\n If someone wants to buy insurance, can he take insurance of any amount? Of course it can. However, its annual income should be able to support it. <\/p>\n Generally, the decision of whether or not the sum insured and whether or not an insurance offer will be accepted is determined by a risk evaluator based on the customer’s age, health risk, annual income, family history, and other information. <\/p>\n One can choose the sum insured from 10 to 20 times their annual income. The risk assessment practice of a life insurance company also guides the determination of the sum insured. <\/p>\n One of the most important things that is required for both the customer and the life insurer while issuing or receiving an insurance policy is the previous life policy. <\/p>\n What is the status of the previous insurance policy? <\/strong><\/span><\/p>\n From past insurance, we have generally said that if an insured currently wants to have any insurance, then if any insurance has been done before, then they should give information in writing in the proposal form. The previous insurance policy may have been done in the same or other company. <\/p>\n Why is the previous policy so important? <\/strong><\/span><\/p>\n If the proposer currently wants to have any life insurance and already has other insurance but such information is not disclosed at the time of filling up the insurance offer form, it is not possible to determine the correct risk or sum assured. <\/p>\n According to the circular recently issued by the Nepal Insurance Authority, it has been directed to mention the national identity card number in the proposal of the insured and the insured identity form. At present, the insurers are accepting the proposal form on the basis of birth registration, citizenship or passport. Many insurance companies issue insurance policies without submitting mandatory documents with awareness in this regard. Thus, the customer’s old policy information is not linked to the new policy and the correct insurance number cannot be determined. <\/p>\n Although there is a place to give information about the past policy in the proposal, it does not give information there. Sometimes, the age of the insured or proposer remains unproven in the absence of national identity card, birth registration certificate, passport information. In this case, various complications arise if the claim is made later. <\/p>\n What is the problem? <\/strong><\/span><\/p>\n The policy cannot be accepted by determining the correct sum insured without knowing the previous insurance. In addition, the correct sum insured cannot be sent to the reinsurance company for reinsurance as the previous policy is not linked to the insurer. In case of a death claim, the insurance company itself should take full responsibility. <\/p>\n What should be done to solve the problem? <\/strong><\/span><\/p>\n To create awareness, awareness and awareness by both the insurance company and the insurance agent. In addition, the insured or proposer should also disclose the information honestly. <\/p>\n In such a situation, the insurance company should not accept the policy without knowing that a copy of the national circular, birth certificate, citizenship or passport is mandatory. To get the right information from the proposer and to make the customer aware of the problems that may arise due to lack of information. <\/p>\n If the proposer correctly provides information about the next insurance policy in the proposal form, the supervisor can easily link the information of the previous policy to determine the correct actuary. Thus, it is beneficial for both the insured and the insured.<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. We all know that death is certain. But none of us know when, how, and there’s nothing we can do about it. What we can do is try to create a risk-free, comfortable, healthy, safe and safe beautiful life by controlling or transferring risks or uncertain losses or accidents that affect our lives. 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