Insurance Education: Insurance is a contract between the insured and the insurer. In case of financial loss due to potential risks in life, such loss is borne by the insurance company. Insurance is done to minimize future risks.
All of you who do insurance have to keep the insurance policy safely. The policy does not work only during the insurance period. It is also important for claims. Therefore, it has to be kept with care. If the insurance policy is lost in some way, a copy can be obtained from the insurance company.
In order to get a copy of the lost insurance policy, you have to apply to the insurance company you have insured. After receiving information about the loss of the policy, the company or the insured itself should publish the information of the loss of the policy in the national daily newspaper at the expense of the insured. If no one receives the information within 35 days from the date of issuance of the notice, the company provides a copy of the policy to the insured. In this way, the company can charge a fixed fee for giving a copy.
What happens if you do not pay the insurance fee on time ?
If the insured does not pay the insurance fee within the stipulated time or delays in paying it, the policy can also become inactive. Therefore, the insured has to pay attention to this.
The insured has to pay the insurance fee regularly at the time mentioned in the policy. If the insured does not pay the insurance fee within the stipulated time or delays, then the insurance company has extended the time by one month. At the extended time, the insured can pay the insurance fee without any penalty or regular fee. Even during such an extended period, if the insured does not pay the insurance fee, the insurance company does not risk the insured. After this, the policy becomes inactive. However, the insurance company can activate the insurance policy by paying the insurance fee or penalty within the stipulated time period.
Presentation : Bijaya Baskota
[‘इन्स्योरेन्स शिक्षा’ कार्यक्रम नेपाली बीमा क्षेत्रको बिकाशको लागि थालीएको एउटा नविनतम प्रयास हो, यदि तपाईहरु संग पनि इन्स्योरेन्स सम्बन्धि कुनै समाचार, लेख/रचना, बिस्लेषणहरु छन् भने हामीलाई सम्पर्क गर्नुहुन अनुरोध गर्दछौ, [email protected]]
