This document provides an insurance product suitability matrix to help assess suitable products for a customer. It outlines the insured's details including age, income, existing coverage, and recommended additional coverage. It also captures the proposer's details, investment horizon, objectives, risk profile, and premium to income ratio to determine suitability. Declarations are included for any cases where the recommended product is not suitable based on the assessment.
This document provides an insurance product suitability matrix to help assess suitable products for a customer. It outlines the insured's details including age, income, existing coverage, and recommended additional coverage. It also captures the proposer's details, investment horizon, objectives, risk profile, and premium to income ratio to determine suitability. Declarations are included for any cases where the recommended product is not suitable based on the assessment.
This document provides an insurance product suitability matrix to help assess suitable products for a customer. It outlines the insured's details including age, income, existing coverage, and recommended additional coverage. It also captures the proposer's details, investment horizon, objectives, risk profile, and premium to income ratio to determine suitability. Declarations are included for any cases where the recommended product is not suitable based on the assessment.
This document provides an insurance product suitability matrix to help assess suitable products for a customer. It outlines the insured's details including age, income, existing coverage, and recommended additional coverage. It also captures the proposer's details, investment horizon, objectives, risk profile, and premium to income ratio to determine suitability. Declarations are included for any cases where the recommended product is not suitable based on the assessment.
For Retired / Pensioner ? Please collect Declaration "D4".
Proposer's Investment Horizon:
Less Than 10 Years X 10 - 15 Years 15 years+
For Investment horizon less than 10 years, only Single Invest & Annuity is recommended.
In case of any other product, please collect Declaration “D1”
Proposer's Objective:
Pure Protection Retirement Planning Children's Marriage Children's Education
Asset Purchase One Time Surplus X Long Term Savings Income Replacement
Refer Table "X" to check if the product selected is recommended to meet that objective.
In case product is not recommended under that category, please collect Declaration “D1”
Proposer's Investment Risk Profile:
SECURE X MODERATE GROWTH
No risk on Capital & interest Take some risk on returns Take risk on both capital even if returns are moderate for higher yield and returns for higher return
Refer Table "Y" to check if the product selected is recommended for the Investment Risk profile. In case product is not recommended under that category, please collect Declaration "D1"
Proposer's Premium to Income Ratio:
Premium to Income Ratio : Total Premium across all policies (B) / Total Income (A) = 4
Refer Table "Z" to check if the premium to income ratio is in the range as recommended. In case it is higher than the same, please collect Declaration "D2"
Customer Declaration
I hereby confirm that the the above information has been filled by me, basis which the product suitability has been ascertained. KLI\PSM\302113
Customer Name: Customer Signature
Place: Date:
This is system generated document for customer signature refer submitted CDF.
For all deviation cases, the below declarations need to be collected from the client as applicable. Please tick whichever is applicable.
Declaration "D1" - Declaration for Investing in a Product not Suitable for the customer:
I hereby confirm that the product selected by me for investment is not recommended as per the product suitability matrix. However, I have completely understood the same and would like to proceed with this investment with complete cognizance of its features, benefits and risks associated with it.
Customer Name: Customer Signature:
Place: Date:
Declaration "D2" - Declaration for Premium to Income Ratio higher than Recommendation
Regular Premium - I declare that I have completely understood this plan and have to pay a premium of Rs.
each year for the next years. I hereby confirm that I have sufficient savings to take care of my mundane expenses and can ensure regular premium payments in this investment so that the policy does not lapse and I continue to enjoy the life cover and other features of the policy. I would like to go ahead with my chosen premium in this product.
Single Premium - I declare that I have completely understood this plan and have to pay a one-time premium of
Rs. . I hereby confirm that my current source of funds is (Savings/ MF or Equity Redemptions/ Sale of Property/Bonus/ Others, please specify). I would like to go ahead with my chosen premium in this product.
Customer Name: Customer Signature:
Place: Date:
Declaration "D3" - Declaration in case of Housewife
I declare that I have completely understood this plan and have to pay a premium of Rs. each year for the
next years.
I hereby confirm that I am making this investment from my own savings and adhoc income. My family earnings are enough to take care of my regular household expenses and I can continue to pay this premium from my end.
Customer Name: Customer Signature:
Place: Date:
Declaration "D4" - Declaration in case of Retired/Pensioner
I declare that I have completely understood this plan and have to pay a premium of Rs. each year for the next
years.
I hereby confirm that I shall be able to pay the future premiums of this investment from my future income/ accrued savings so that the policy does not lapse and I continue to enjoy the life cover and other features of the policy.
