After submission of proposal of a life insurance policy, it generally takes about 15 days for the insurance company to send the policy bond.
Your free-look period starts only on the day you receive the policy documents.
If you do not get the policy within the stipulated time, you can contact the agent or the insurance company.
After submitting the proposal, you may be asked for additional documents, which may stretch the time between proposal submission, and receipt of policy documents.
It is therefore important that you submit all the following documents during proposal submission:
• Age proof
• Identity proof
• Address proof
• Income proof documents
You would need to fill the details based on certain medical tests, for term plans. The sooner you take the tests, earlier you get the proposal approved.
Your policy will be sent to you once the medical report is verified and the proposal is accepted.
You can confirm with your agent or the insurance company for the steps to be followed, and the respective time taken to get the life insurance policy.
Online life insurance policies reduce the application process time. The life insurance approval duration will vary with different life insurance companies.
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