MANAGEMENT

Detailed explanation-1: -A cover note is a temporary document issued by an insurance company that provides proof of insurance coverage until a final insurance policy can be issued.

Detailed explanation-2: -Insurance policy is a formal and legal document issued by the insurance company to the insured. It describes the terms and conditions relating to the particular policy. It includes details about the risks covered, duration of coverage, amount of premium, mode of payment of premium, etc.

Detailed explanation-3: -Definition: Proposal form is the most important and basic document required for life insurance contract between the insured and insurance company.

Detailed explanation-4: -The Certificate of Insurance is a legally required document in India, and it provides information on the policy coverage and details of the policyholder.

Detailed explanation-5: -When applying for insurance, a proposer has to fill out the proposal form of the life insurance company. The Insurance Proposal is an important document which provides the details of the proposer and the life assured and which is used as a basis to ascertain the insurability of an individual.