Ombudsman’s Advice

18
Jul

DOs AND The DONTs: DO Ask Questions (if any)

Proposal forms are therefore very important. So read them carefully and do not sign them unless you know and clearly understand what is stated in the proposal form and you agree with the Answers to the Questions in the form.

18
Jul

DOs AND The DONTs: DO Disclose All Required Information

All insurance contracts are governed by a principle called “utmost good faith” It comes from a Latin term ‘uberrimae fidei'. Many who insure do know this term or understand this legal principle. Normal contracts are not governed by such a requirement. For example, when you buy a loaf of bread or a motor car or a house you can inspect ...

18
Jul

DOs AND The DONTs: DO Read the Proposal Before Signing

There are now nineteen companies engaged in Insurance business in Sri Lanka . They are all private companies. They all use Agents to sell their policies. It is normally the Agent who brings the proposal form to you when you want to insure. He also helps you to fill up the form. Sometimes the Agent himself fills up the form ...

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