Subject Title: Practice of Life Insurance
Prepared by: Sameena Begum
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Year: IV Semester
Updated on: 08-02-2020
Unit - I: Introduction to Life Insurance and Types of Life Insurance Policies and Premium Calculation:
- Define life insurance. Explain its evolution?
- Describe the features and importance of life insurance.
- Explain various principles of life insurance.
- Discuss briefly about the different life insurance organizations or companies operating in India.
- Explain briefly about the IRDA Act. And discuss its powers, duties and functions.
- Explain various recommendations of Malhotra committee.
- Explain different types of life insurance policies or plans.
- Write briefly about with or without profit.
- Explain ULIPs plans.
- Explain how a customer evaluate the insurance policy.
- Explain in detail about policy evaluation.
- What is Group Insurance? Discuss its features and benefits to both employer and employees.
- What are Annuities? Explain types of Annuities
- Define premium. What are different types of premium?
- What do you mean by rebates, modes of rebates and large sum assured rebates.
- What is surrender value? Explain the bases for calculating surrender values.
- Explain in detail about paid up value. Give example.
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Unit - II: Settlement of Claims Risk & Underwritings and Financial Planning & Tax Savings:
- What is claim settlement? Discuss its types. And explain in detail about procedure for claim settlement for life insurance policies.
- What is underwriting? Discuss the needs and importance of underwriting in the insurance markets.
- What are the various guiding principles of underwriting?
- Discuss the factors affecting insurability of the insured.
- What is financial planning? Explain the role of life insurance policies in financial planning.
- Explain about Taxation and Tax saving through insurance.
- What is Mutual Fund? Explain the different types of Mutual Funds.
- Explain differences between Mutual Funds and Insurance.
- Explain implications IT of life insurance company.
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