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1
Life Insurance
Book : Risk Management & Insurance : S Arunajatesan & T.R. Viswanathan
1) Define Insurance in your words. Social & Economic benefits of Insurance. Classify different
types of Risks.( Pg no 3, 12 & 17)
2) Define Risk Management & write down process involved in Risk Management (Pg no 15)
3) Write down basis for Life Insurance .Also write three basic principles forming the foundation
for the risk transfer mechanism of Insurance.(Pg no 19)
4) Life Insurance is not an Indemnity contract, Justify. (Pg no 21)
5) What is contract? Why Insurance is a special contract? And why its contract of uberrima
fides? (Pg no 27,28 & 29)
6) What do you understand by Material Fact? Which are the facts need not be disclosed?
(Pg no 30)
7) Differentiate between Representations, Warranties & Condition (Pg no 31)
8) Write a note on Section 45 - The indisputability clause. (Pg no 32)
9) Insurance – Is it a Wager? (Pg no 34 & 35)
10) What is insurable interest (Pg 35)
11) The case of the Hypochondiac (Pg no 40)
12) Define i) Sum Assured, ii) Death Benefit, iii) Survival or maturity benefit, iv) Premium, v)
Proposer, vi) Proposal, vii) Policy, viii) Life Assured & ix) Policy holder (Pg no 43)
13) Write briefly about five categories of Life Insurance products (pg no 44)
14) Chapter No 5 (Pg no 53 to 58)
15) What is annuaity and how it works? (Pg no 62,63 & 64)
16) What are the different types of rider benefits one can avail? (Pg no 67 & 68)
17) Write notes on Keyman & Partnership insurances. (69 & 70)
18) Distinguish between Individual insurance & group insurance. (Pg no 73)
19) Types of group insurance schemes offered. (Pg no 74 -78 onwards)
20) Chapter 9 (Pg no 114 to 119)
21) When claim arises what need to be verified? (Pg no 137 & 138)
22) Write note on diff types of claims. (138 – 146)
23) Read cases on Pg no 150 & 152)
24) Write down steps & skills involved in traditional way of selling (Pg no 167-170)
25) Personal financial planning & Life insurance (Pg no 173 & 174)
26) Eligibility criteria for becoming Agent. Also write code of conduct (Dos & Donts) provided
by IRDA for Agents. ( Pg no 177 & 178)
27) Who is Broker? Regulations for becoming Broker as per IRDA.(Pg no 180 & 181)
28) Write short notes on Bancassurance & Micro insurance Agents
29) Chpater 16 (Pg no 184 to 194)