The form number of LIC Agent Confidential Report is 380/3251 and it is used while filling the Proposal Form of New Business in LIC. This form is to be filled by the Agent of LIC.

Even if your Development Officer or Chief Life Insurance Advisor (CLIA) has explained the process of filling the 'Agent Confidential Report' to you, you may face some difficulties while filling this form in future. At the beginning of your Agency Career, you may find it inconvenient to visit your Development Officer or CLIA again and again for the same work.

This is why this information is very important for New LIC Agents. The information given here will always be available to you, so that you can benefit from it whenever you need it.

If you are an experienced LIC Agent, you may have many tasks related to New Business and old Policy Services, due to which you may feel short of time. In such a situation, many experienced agents hire associates to help them in their work. Every time you appoint new associates, it can be challenging for you to train them to fill the Agent Confidential Report.

If you are a Chief Life Insurance Advisor (CLIA) or work as a Development Officer in Life Insurance Corporation of India, then you also have to give information to your New Agents about filling the Agent Confidential Report.

Now suppose you train your New Agent or Associate to fill the Agent Confidential Report, then is it not possible that they do not get confused while filling this Report Again? In such a situation, our articles can prove to be very useful for training your Associates or New Agents. You can share the link of my article to inform them about the correct way to fill ACR, which will also save your valuable time.

LIC's Agent Confidential Report is abbreviated as ACR.

ACR form in LIC means "Agent Confidential Report". When an LIC Agent sells a New Insurance Policy, he has to fill this form. With the help of this form, the LIC agent provides confidential information about the Life Proposed for Insurance to the Corporation.

In Life Insurance Corporation of India, this form is very important for every sale by the Life Insurance Agent. Because the corporation decides to issue a Life Insurance Policy based on the confidential information presented in this form. Therefore, this form is called Agent Confidential Report or ACR.

Agent Confidential Report to be filled by Agent of Life Insurance Corporation of India.

LIC knows its customers through its Agents and agents play a vital role in this process. When an Agent proposes Insurance for an Individual, LIC uses the 'Agent Confidential Report' (ACR) to obtain confidential information about that individual. This information helps LIC to decide whether it is appropriate to sell a Policy to the proposed individual or not.

The ACR form is important because through this the agent provides important and confidential information about the customer to the Corporation, which helps in assessing the risk and taking policy issuance decisions.

If LIC agent enters wrong information in 'Agent Confidential Report' (ACR) and a policy is sold on that basis, it can have serious consequences in case of any claim in future. In such a case, the agency of the agent can be cancelled, and in special circumstances, LIC can also recover the loss from the agent.

Our website provides information related to Jeevan Bima Bazaar, LIC of India and other Life Insurance Industry and provides useful resources for Life Insurance Agents. We have given detailed information about filling LIC's Agent Confidential Report in one of our articles. The option to download the form is given in that article.

You can not only download the Agent Confidential Report from that article but can also download its sample file.

There are forms to be filled while buying a Life Insurance Policy from the Life Insurance Corporation of India (LIC). When a form is filled to buy a New Life Insurance Policy, such a form is called a Proposal Form. There are many types of Proposal Forms to buy a Life Insurance Policy from LIC of India. One of the Proposal Forms used to give the benefit of Life Insurance Policy to a life below 18 years of age is Form No. 360.

This is an important Form to Propose Life Insurance for a minor. Through this form, LIC asks for various types of information about the Proposed Life and the Proposer. So that, LIC can be facilitated in evaluating the risk and eligibility of the minor for insurance coverage. LIC's Form No. 360 includes details related to the Personal Information, Health Declarations and Financial Status of the Proposed Life and the Proposer.

LIC Form No. 360 is used especially when a Life Insurance Cover is to be provided to a Person who is below 18 years of age. In other words, LIC Form No. 360 is filled when a Life Insurance Policy is to be purchased on the life of a minor from the Life Insurance Corporation of India.

Although this form is to be filled at the time of purchasing the policy, it can be used anytime during the entire Policy Term. Since the Life Insurance Policy is issued based on the information and declarations given in this form, the corporation can use this form whenever a claim arises in the issued Insurance Policy.

LIC Form No. 360 is specifically used for proposing Life Insurance Policies for children between the ages of zero and 18 years. This form is filled by the parent or legal guardian of the minor child.

LIC Form No. 360 can be obtained from any branch office of LIC. This LIC Form is useful for those who want to buy a Life Insurance Policy from Life Insurance Corporation of India (LIC) for their minor children.

This Life Insurance Corporation of India form can also be downloaded through some reliable websites. Keeping your convenience in mind, we have given detailed information about How to Fill LIC Form No. 360 in an article. You can also download this form from that article.

Thus, you can obtain this form by using the official website of LIC, Branch Office, or reliable online Resources.

If a customer wants to buy a policy of Life Insurance Corporation of India (LIC) on the life of his minor child, then he needs LIC's Form No. 360. But, the corporation does not give this form directly to the customers. The work of selling Life Insurance Policy in LIC is mainly done by Agents, Development Officers and Chief Life Insurance Advisors (CLIA), so LIC gives this form to its Agents, Development Officers and CLIA only.

If you want to buy a Life Insurance Policy from LIC, then you have to contact a LIC Agent. So if you want to get this form of LIC, then you can get it from any LIC Agent. By the way, we have told in one of our articles How to fill LIC Form Number 360. You can also download this form from that article of ours.

LIC Form No. 360 is not available for purchase and sale. LIC provides this form to its Agents, Development Officers free of cost. So you do not need to pay any amount to get the form.

LIC Form No. 360 is used especially when buying an Insurance Policy on the Life of Minor Children. This form should be filled by the person who is proposing the Policy. In simple words, this form should be filled by the person who will pay the premium of the Proposed Policy. Such a person is called the Proposer in the child's Life Insurance Policy.

However, according to the rules, any Proposal Form of LIC should be filled by the Proposer only. But in practice it is often seen that most of the Proposal Forms are filled by the Agents of Life Insurance Corporation of India. Our suggestion to you would be that while buying any Policy of LIC, the Proposal Form should be filled by the Proposer or any of his close relatives.

As per Indian laws, a minor below the age of 18 cannot take important decisions for his life. Children of this age can do their own studies, sports and other activities. As per Indian laws, important decisions related to a child's life can be taken by their parents or legal guardians.

So, the decision to buy a Life Insurance Policy for a minor child can be taken by his parents or legal guardians. In the Life Insurance Industry, the person who proposes to buy a Life Insurance Policy is called a Proposer, so in LIC's Form No. 360, the parents of the minor child or his legal guardian can be the proposer.

Insurable Interest is a must for Life Insurance Policies. In simple terms, Insurable Interest can be understood as if the earning member of a family dies, the future of his family can be badly affected. Hence, the earning member has the Insurable Interest of his family hidden in him. Due to which the earning member can buy a Life Insurance Policy on his own life and can make any member of his family the nominee.

An unknown person has no Insurable Interest in the life of a minor. This is the reason why an unknown person cannot buy a Life Insurance Policy from LIC on the life of a minor.

In Indian society, every parent spends his entire life to make the future of his children better. Every parent wants that his child should study well in his life and when he grows up, he should get a respectable position in the society. At present, the education cost in India is very high, for a normal family, arranging the fees of the children and making other educational arrangements is a big deal.

This is the reason that in Indian society, most of the parents start saving for the better future of their child from the birth of their child. The problem becomes more serious when the child's mother or father or both die at an early age. So such people who think of giving a better future to their child in every situation buy LIC Policy.

On the other hand, it has been found many times that some children die at an early age. When this happens, the parents start having Financial Problems for their other children. So when the child has Life Insurance, it has double benefits. Firstly, if the proposer dies, the child gets the Life Insurance Benefit from his Life Insurance Policy. Second, if the child dies, the parents get the Insurance Benefit which they can use for their other children.

This is the reason that when the parents are the Proposers for a child's Life Insurance Policy, the corporation readily accepts such a policy. Whereas, if any other person is the Proposer on the Life of a minor, then a lot of investigation is done for him. This is the reason that in policies bought for children from Life Insurance Corporation of India, their parents are the proposers in most of the cases.

It is mandatory to fill LIC Form No. 360 to buy a Life Insurance Policy for a minor from LIC. If the Insurance Policy is Proposed for a Large Sum Assured, the corporation can also ask for the first premium to be deposited. Now even if you have filled and submitted this form and have also deposited the premium, it is not necessary that your Proposed Policy will be issued. Due to many reasons, the policy can be cancelled and the deposited premium is refunded.

After submitting Form No. 360 to LIC, the officials review the information and declarations given in the Proposal Form. If needed, they can ask for medical and other necessary formalities. In many cases, Life Insurance Policy is issued from the branch office of Life Insurance Corporation of India, but if the Proposed Life Insurance Policy is for a large Sum Assured, then the right to decide to issue the policy may lie with bigger offices (eg: Division Office, Zonal Office or Central Office).

This process of issuing the policy is called underwriting in the Life Insurance Business. During the underwriting process, the officers of the corporation check the Form Number 360 and other documents given by the Proposer. Along with this, they assess the medical report and other risks. Only after this, the Life Insurance Policy is issued. If the officer of the corporation does not feel that the Proposed Life Insurance is eligible, then the Proposed Policy can also be cancelled.

You should be very careful while filling the LIC Form No. 360. Because, based on the information and declarations given by you in Form No. 360, the corporation decides to issue the Insurance Policy and determines the Premium.

Now if you knowingly or unknowingly give wrong or incomplete answers to the questions asked in Form No. 360, then the corporation can completely reject any or all claims related to the policy. It even has the right to confiscate the premium deposited by you.

Therefore, our suggestion for you would be to give detailed and correct information to all the questions while filling this form, so that you do not have to face any kind of problem in future.