Consumer should check i for premium amount to be paid , what the lock in period is, return values, what would be implications of premium default, revival conditions of policy , what are the charges that would be deducted, would loan be available etc.

Settlement option means the facility made available to the policy holder to receive the maturity proceeds in a defined manner (the terms and conditions are specified in advance at the inception of the contract).

Medical reports depend on the age of entry, sum assured , type of policy, family medical history , special medical reports if required by insurance company .

The documents which are generally required are death certificate, claim form and policy bond, Other documents such as medical attendant's certificate, hospital certificate, employer's certificate, police inquest report, post mortem report etc could be called for, as applicable.

The term health insurance is a type of insurance that covers your medical expenses. A health insurance policy is a contract between an insurer and

IRDA is Insurance Regulatory Development Authority. Insurance Regulatory and Development Authority (IRDA) is an autonomous apex statutory body which regulates and develops the insurance industry in India.

Insurance Regulatory and Development Authority of India looks into complaints/grievances from policyholders. This Cell takes up the grievances with the respective insurance companies for redressal. Policyholders who have complaints against insurers are required to first approach the Complaints/Grievance Redressal Cell of the insurer concerned. If they do not receive a response from the insurer within a reasonable period of time or are dissatisfied with the response of the company, they may approach the Grievance Redressal Cell in the Consumer Affairs Department of the IRDAI.

This is the prescribed time limit for life insurance policy if consumer want to cancel or change the policy as per requirement .The free look period lasts for 15 days from the date of receipt of policy ( policies purchased through distance marketing have the free look period of 30 days). Within these 15 days, the buyer needs to scrutinize the policy document and in case of any mismatch between what was promised and what the customer receives, the latter can return the policy to the company. Please visit following link for the for more information on life insurance : http://www.policyholder.gov.in/Life_Handbook.aspx# Pls visit following link for the for more information on health insurance : http://www.policyholder.gov.in/Health_Handbook.aspx Pls visit following link for the for more information on motor insurance : http://www.policyholder.gov.in/Motor_Handbook.aspx