Practice of Life Insurance

Q7 Explain the process of lodge on insurance claims in case of the death of the person? 

What is underwriting? What are various constituents of underwriting data?

(a) What does retention mean in an insurance policy?

(b) How does reinsurance benefit the insurer?

Write short note on the following:

(a) Policy Document

Write short note on the following:-

(b) Surrender of a Policy

Write short note on the following:-

(c) Exclusion clauses

Write short note on the following:-

(d) Catastrophic Bonds

Write short note on the following:-

(e) Powers of Ombudsman

Discuss the individual and economic rationale for life insurance. State briefly availability of different insurance product in India.

Briefly explain the various risk class and risk assessment factors in individual and group life insurance underwriting.  

List the various insurance intermediaries. Briefly explain the role of Insurance Ombudsman in life insurance.

(b) Explain limitations on insurer's freedom with respect to collection,maintenance, use and disclosure of personally identifiable information.

What are the major features of Pension Plans available in India? Why they have become popular these days? 

Explain the sources of surplus generated by insurance companies and the methodology of distribution of profits by the insurance companies in India.

Differentiate between the following:

a) Retention and Reinsurance

Differentiate between the following:

b) Alterations and Surrender

Differentiate between the following:

c) Individual Insurance and Group insurance

Write short notes on the following:

a) Catastrophic Bonds

Write short notes on the following:

b) Declining of Proposals

Write short notes on the following:

c) Collateral Security 

Write short notes on the following:

d) Third Party administrators

Distinguish between the following:-

(c) insurance and assurance

02 "The concept of social security is the backbone for insurance business Comment

Q3 Distinguish between Individual & Group Insurance. How can group life Insurance schemes be made more popular?

Q4 Describe various parts of life insurance policy document and what information would usually be there in the enclosed schedule? 

Q5 What do you understand by Alternative Distribution channels' of life insurance and explain different types of such channels which are being used currently.

Write short note on:-

(a) Group Health Insurance

Write short note on:-

b) Exclusion clauses

Write short note on:-

c) Insurance Ombudsman

Write short note on:-

d) Acturial Consideration in life insurance

Distinguish between the following:-

a) Term assurance and whole life policy

Distinguish between the following:-

b) Nomination and assignment

a) What according to you is the role of Information Technology in claims settlement? Discuss how claims settlement would look like in future. 

Distinguish between the following:-

(d) Surrender and paid up values

Q1 How is term insurance different from endowment? Compare and elaborate in detail the characteristics and objectives of these coverages. 

(a) What is the role of life insurance in the betterment of society?Critically analyze. 

(b) What do you understand by "cost of insurance"?

(a) What do you mean by "surplus" in the life insurance context?

(b) What do you understand by the term "actuarial valuation"?

a) What are the objectives of group employees benefit schemes? What are the income benefits to the employers and employees flowing out the implementation of group schemes? 

(a) What are the guiding principles in underwriting life insurance?

Q1 Why do people need life insurance? Do these needs differ for different people? Give reasons.