A complete insurance contract mainly consists of the following parts:

1. Insurance policy. The front of the insurance policy generally contains all the insurance information, such as policy number, product name, payment period, insurance period, identity information of the insured and beneficiary, etc. In addition, the insurance company’s customer service phone number, address, directors, etc. are generally included. Long signatures, etc. If there is a product with cash value on the back of the insurance policy (such as endowment insurance, annuity insurance, etc.), it will have a cash value; if it is a product without cash value (such as universal insurance, investment-linked insurance, etc.), it will generally be blank.

2. Insurance terms. Insurance clauses are generally the core content of the entire insurance contract. All insurance liabilities, liability exemptions, and a series of special explanations will be stated in the clauses. It can be understood as the theoretical basis for an insurance product. No matter who talks so much about the product, in the end it all comes down to the insurance terms, which are all very important! Here is an example. Many times when buying insurance products from banks, the marketers prefer to only give you an insurance policy in order to prevent you from being too clear about it. If you encounter this situation, you must ask the marketers for the terms.

3. Insurance-related documents. It mainly refers to the application form submitted when purchasing insurance, which is the document in which all personal insurance information, health notifications, risk warning statements and signatures are copied.

4. Legal and valid statements and other written agreements. This generally covers some service guides of insurance companies, such as matters related to insurance benefits, what information is required for claims settlement, etc. If there is a written agreement with the insurance company, it will be attached, if not, it will not.

Having been in the financial industry for 9 years, AFP certificate holder will provide you with the most down-to-earth financial knowledge.

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