Need A Financial Product Forums Insurance Is the life insurance sales illustration a legal document, like a contract?

This topic contains 1 reply, has 2 voices, and was last updated by  Tushar Rai 2 years, 5 months ago.

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    Tushar Rai
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    Is the life insurance sales illustration a legal document, like a contract?

    #47705

    The sales illustration is not a legal document as the legal documents are given out inside the policy itself. The must read of the policy is signed up on the contract carefully in order to ensure that the pay holder understands as to what the exact nature of the policy is and what all are the risks and the limits or the clauses of exclusion and all that is very well known before the policy gets signed and just for that the sales illustration is necessary.

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