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LIFE INSURANCE ( IC-33 )
 
    INTRODUCTION TO INSURANCE
   
  1. What is insurance
  2. Purpose and need of insurance
  3. Classification of risks
  4. The human asset
  5. Insurance as a social security tool
  6. Role of Insurance in economic development

    PRINCIPLES OF LIFE ASSURANCE
   
  1. Life insurance contracts
  2. Principle of utmost good faith
  3. Insurable Interest
  4. Principle of Indemnity

    PREMIUMS AND BONUS
   
  1. What is Premium
  2. Premium calculation
  3. Life fund
  4. Actuarial valuation
  5. Bonus

    LIFE INSURANCE PRODUCTS
   
  1. Basic Elements
  2. Some popular plans
  3. Variable Insurance plans
  4. Salary Savings Schemes
  5. Riders
  6. Annuities
  7. Group Insurance

    UNDERWRITING
   
  1. Introduction
  2. Classification of risk
  3. Financial underwriting
  4. Assessing risks
  5. Adverse selection
  6. Non-medical underwriting
  7. Recent Trends

    INSURANCE DOCUMENTS
   
  1. Proposal form and Personal statement
  2. First / Renewal Premium Receipt
  3. Policy Document
  4. Endorsements
  5. Prospectus

    POLICY CONDITIONS
   
  1. Age , Days of grace
  2. Lapse and Non – forfeiture
  3. Paid up value
  4.  Revival
  5. Assignment , Nomination
  6. Surrenders and loan
  7. Foreclosure
  8. Alterations
  9. Married Women’s Property Act policy

    CLAIMS
   
  1. Maturity claims
  2. Survival benefit payments
  3. Death claims
  4. Accident and disability benefits
  5. Claims Concession

    LINKED LIFE INSURANCE PRODUCTS
   
  1. What is a Linked Policy
  2. Option of Funds
  3. Net Asset Value (NAV)
  4. Flexibility
  5. Lock-In
  6. Charges
  7. ULIP and traditional insurance
  8. Annuities and pensions

    INSURANCE AGENCY
   
  1. Definition of an agent
  2. Agents’ Regulations
  3. Procedure for becoming an agent
  4. Methods of remunerating agents
  5. Functions of agents
  6. Agency as a profession
  7. Responsibilities of an agent
  8. Prerequisites for success
  9. Ethical behavior

    LAW AND REGULATIONS
   
  1. Insurance Act 1938
  2. LIC Act, 1956
  3. IRDA Act 1999
  4. Consumer Protection Act, 1986.(COPA)
  5. Ombudsman
  6. Income tax Act
  7. MWP Act
  8. Rural and social sectors
  9. Micro Insurance

    ANNEXURES
   
  1. IRDA Licensing of Insurance Agents Regulation 2000
  2. IRDA Licensing of corporate Agents Regulation 2002
  3. Financial Market, Capital Market, Stock Technicals etc

   

   

   

   

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