- Purchase the insurance policy only from the company registered with the SECP. The list of such companies is available on the SECP’s website and is regularly updated;
- Discuss your needs and preferences with the representatives or agents of more than one insurance company and make prudent choice after comparing the ideas and benefits offered by them;
- Read all the terms and conditions of the insurance policy carefully to know and understand the benefits and limitations of the policy and to know what is covered and what is not;
- Always ask the insurance company about exclusions and limitations under the insurance policy;
- Fill the insurance proposal form carefully and completely. Mark all empty spaces as not applicable or void;
- Keep a copy of the insurance proposal form for your record;
- Ask the insurance company to clearly explain the claim process, documentation requirements, and inform your family members about it;
- Ask everything you would like to know about the insurance policy as it is always your right to know the product you are paying for;
- Pay the insurance premium only after insurance company accepts your proposal.
- Do not let someone else fill your insurance proposal form. If you do so, carefully check and question what they have filled;
- Do not make any false declarations about anything. Remember, insurance is based on the principle of ‘utmost good faith’ and the claim may be denied on the basis of misstatement;
- Do not rely on anything verbally communicated by the insurance company’s representative or agent unless provided to you in writing, on a legitimate stationary of the insurance company.