Page 43 - Life Insurance Today FEBRUARY 2016
P. 43
Glossary & Poll
Life Insurance Glossary Poll of the Month
Agent Do you think after the devastating flood
An insurance company representative licensed by the state affecting South India, the insurers and
who solicits and negotiates contracts of insurance, and regulatory bodies will come up with more
provides service to the policyholder for the insurer. An agent
can be independent agent who represents at least two products and services?
insurance companies or a direct writer who represents and
sells policies for one company only. Yes No Can’t Say
Results of Poll in our January 2016 Issue
Annuity Do you think that the insurance industry is still
A contract that provides a periodic income at regular intervals, poised for a strong growth as the domestic
usually for life. economy is expected to grow steadily?
Annuity Certain Yes- 100 % No- 00 % Can’t Say- 00 %
A contract that provides an income for a specified number of
years, regardless of life or death. You may send your views to :
Poll Contest
Application
A statement of information made by a person applying for Life Insurance Today.
life insurance. It helps the life insurance company assess the
acceptability of risk. Statement made in the application are 25, Baranashi Ghosh Street, Kolkata-7, India
used to decide on an applicant's underwriting classification Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
and premium rates.
Appearing in Licentiate Examination
Beneficiary
The person named in the policy to receive the insurance (As per New Syllabus)
proceeds at the death of the insured. Anyone can be named
as a beneficiary. Presenting for the first time in India a reliable and
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Bonus Rate Annuity Insurance Times, a renowned name in the field of
An extra percent of interest credited to an annuity during the insurance education. After closely studying the needs
first year that it is in force. The extra amount is above the of students appearing for the examinations of
interest rate to be credited beginning the second year and Insurance Institute of India our research team has
the remaining years that the annuity is in force. The extra prepared this excellent set of guide materials. This
rate is paid in the first year in an effort to attract new book will cover objective type questions and answers
policyholders. as per current syllabus and shall include questions of
last 10 previous terms (only objective questions)
Cash Surrender Value
The amount available in cash upon voluntary termination of Subjects : General Insurance
a policy by its owner before it becomes payable by death or Life Insurance 0 1 Principles of Insurance
maturity. The amount is the cash value stated in the policy 0 1 Principles of Insurance 1 1 Practice of General Insurance
minus a surrender charge and any outstanding loans and any 0 2 Practice of Life Assurance 1 4 Regulations on Insurance
interest thereon. 1 4 Regulations on Insurance
Direct Response Cost: `450 each book including delivery charges
Insurance sold directly to the insured by an insurance company
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42 February 2016 Life Insurance Today
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