Who is the proposer of an insurance or a n ULIP?

By | January 14, 2009

A proposer is a person who actualy pays for the policy. This is an important point while taking an insurance policy, either tradiotional insurance or ULIP.

If a person is capable and pays for himself, the proposer and life assured are same( here the concept of proposer dosen’t come) 

If a person  pays  the premium for others (dependents), he is called proposer and the life insured is the one on whose behalf the premium is paid.

A perosn can  only pay for their unearned wife/husband  and their children.   

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