DELIVERY OF LIC DEED/BOND

After underwriting on the proposal from the policy is either issued or declined.

Policy bond being a legal document and property of the the policy holder is ought to be dispatched to the policy holder by regd. post at the address in record.

Insurance companies to better the rapport and to give personal touch send the policy bond( containing first premium receipt) by hand thru agent alone or accompanied by employee of the company e.g agency manager/sales manager/branch manager etc. and are supposed to obtain a written receipt of the policy bond and submit it to the company.Company obtains signature of the person in register ,who has collected policy bond for delivery to the customer. 

Some companies have written in the agency agreement as a role of the agent that he /she shall deliver and collect documents except cash.

The company maintains a portal in which all records mode of dispatch,date of delivery is mentioned.The agent or employee of company can access and print it.  

The free look period of 15 days shall start from the date of delivery.

Policy holder should transact all business with company by letter under acknowledgment.

If the policy bond is not received within reasonable period say 15 days client should report to company preferably in writing under acknowledgment.The company shall inquire   and  revert about where abouts of the policy bond.

Client should discreetly inquire about find out who has collected the policy bond.