Page 41 - Life Insurance Today April 2018

Glossary & Poll

Life Insurance Glossary Poll of the Month

Have the scathing remarks by Securities
Payor: Appellate Tribunal on order of IRDAI has
The person making premium payments on a policy. tarnished the image of IRDAI

Permanent Life Insurance: "
The type of life insurance that may provide coverage for the Yes No Can’t Say
insured's entire lifetime. Permanent life insurance policies
may include cash value accounts, policy loans, surrender Results of Poll in our March 2018 Issue
options/fees, etc. Examples are Whole Life Insurance and
Universal Life Insurance. Most term life insurance policies Do you think new health care scheme would
can be converted to permanent life insurance policies. be a game changer

Policy: Yes- 100 % No- 00 % Can’t Say- 00 %
The written document issued by an insurance company to a
policy owner. The policy represents the insurance contract You may send your views to :
Poll Contest
between the insurance company and the policy owner.
Life Insurance Today.
Policy Anniversary: 25, Baranashi Ghosh Street, Kolkata-7, India
The anniversary of the date of issue as shown in the policy. Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
Appearing in Licentiate Examination
Policy Date:
The date the insurance policy becomes effective. (As per New Syllabus)
Presenting for the first time in India a reliable and tested
Policy Fee: coaching solution from the house of The Insurance Times, a
renowned name in the field of insurance education. After
A charge for policy administration expenses incurred by the
closely studying the needs of students appearing for the
insurance company. The policy fee is usually included in the
examinations of Insurance Institute of India our research
premium.
team has prepared this excellent set of guide materials. This
book will cover objective type questions and answers as per
Policy Loan: current syllabus and shall include questions of last 10
A loan from the insurance company to the policy owner previous terms (only objective questions)
secured by the policy's cash value.
Subjects :
Life Insurance General Insurance
Policy Owner:
01 Principles of Insurance 01 Principles of Insurance
The individual who owns an insurance policy and who has
02 Practice of Life Assurance 11 Practice of General Insurance
all contractual rights related to the insurance policy. The 14 Regulations on Insurance 14 Regulations on Insurance
policy owner may or may not be the same person as the Cost: `` `` ` 650 each book including delivery charges
insured, payor or beneficiary.
Licentiate Exam Mock Test
Pool: Insurance Training Centre, wing of The Insurance Times is
A method of distributing insurance risk in which the indi- pleased to announce the launch of online Mock Tests for
vidual participants share overall risk with the other partici- Licentiate exams. Each course contains mock test for each
pants. chapter followed by a final Mock Test covering all the
chapters. After completing this online you can assess your
Pre-Authorized Check (PAC): level of preparedness and if required you can brush up
again in order to score good marks. `` `` `300/- each paper.
A premium-payment arrangement in which the policy owner
authorizes the insurer to withdraw the premium payments Combo Offer : 3 Books plus Online Mock Test for 3
from a bank account. This arrangement is usually required papers worth `` `` `900/- total value `` `` `2850/- :
for the monthly payment mode. Pay only `` `` `1420/-

Life Insurance Today April 2018 41