Application Form

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Definition:

The application form is the collection of all documents that are submitted by the proposer to the insurance company to issue a life insurance policy. These documents form the basis of the insurance contract.

Description:

Before applying for admission to your favourite college, the administration requested you to submit your high school certificates, father’s salary certificate, proof of your achievements, etc. The documents are for the verification of your background. These make for the basis of connection with the applicant. 

In insurance an application form is the document that contains all the details about the proposer. It is a request placed by the agent or the proposer to the insurance company for the issuance of the policy.

The application form is attached as the annexure to the policy which stands important for processing the claims. It is duly signed by the applicant (proposer/agent) to receive the insurance policy.  

Example:

Amit applied for a health plan through an agent. The agent provided him with a proposal form. Amit filled in all the information, and submitted the proposal with the application form to the insurer. After the evaluation of the proposer’s application form, the insurance company will choose to issue the policy. The application form will be a part of the policy given.

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