Page 42 - Life Insurance Today May 2016
P. 42
Glossary & Poll
Life Insurance Glossary Poll of the Month
Premium Will the Terrorism Insurance benefit the citizens
The payment, or one of the periodic payments, a of India at large?
policyowner agrees to make for an insurance policy. Depend-
ing on the terms of the policy, the premium may be paid in Yes No Can’t Say
one payment or a series of regular payments, e.g., annually,
semi-annually, quarterly or monthly. The premium charged Results of Poll in our April 2016 Issue
reflects the expectation of loss, expenses and profit contin-
gencies. Will the Indian population embrace the
Travel Insurance Policy proficiently?
Rating
The basis for an additional charge to the standard premium Yes- 100 % No- 00 % Can’t Say- 00 %
because the person insured is classified as a greater than
normal risk usually resulting from impaired health or a haz- You may send your views to :
ardous occupation. Poll Contest
Reduced Paid-up Insurance Life Insurance Today.
A form of insurance available as a non-forfeiture option. It
provides for continuation of the original insurance plan, but 25, Baranashi Ghosh Street, Kolkata-7, India
for a reduced amount, without further premiums. Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
Reinstatement Appearing in Licentiate Examination
Restoring a lapsed policy to its original premium paying sta-
tus, upon payment by the policy owner, with interest, of all (As per New Syllabus)
unpaid premiums and policy loans, and presentation of sat-
isfactory evidence of insurability by the insured. Presenting for the first time in India a reliable and tested
coaching solution from the house of The Insurance Times, a
Rider renowned name in the field of insurance education. After
An endorsement to an insurance policy that modifies clauses closely studying the needs of students appearing for the
and provisions of the policy, including or excluding coverage. examinations of Insurance Institute of India our research
team has prepared this excellent set of guide materials. This
Risk Classification book will cover objective type questions and answers as per
The process by which a company decides how its premium current syllabus and shall include questions of last 10
rates for life insurance should differ according to the risk previous terms (only objective questions)
characteristics of individuals insured (e.g., age, occupation,
sex, state of health) and then applies the resulting rules to Subjects : General Insurance
individual applications. Life Insurance 01 Principles of Insurance
01 Principles of Insurance 11 Practice of General Insurance
Standard Risk 02 Practice of Life Assurance 14 Regulations on Insurance
The classification of a person applying for a life insurance 14 Regulations on Insurance
policy who fits the physical, occupational and other stan-
dards on which the normal premium rates are based. Cost: ` 650 each book including delivery charges
Substandard Risk Licentiate Exam Mock Test
The classification of a person applying for a life insurance
policy who does not meet the requirements set for the stan- Insurance Training Centre, wing of The Insurance Times is
dard risk. An additional premium is charged on substandard pleased to announce the launch of online Mock Tests for
risks to provide for the probability that such a person will Licentiate exams. Each course contains mock test for each
have a shorter life span than a standard risk. chapter followed by a final Mock Test covering all the
chapters. After completing this online you can assess your
level of preparedness and if required you can brush up
again in order to score good marks. `300/- each paper.
Combo Offer : 3 Books plus Online Mock Test for 3
papers worth `900/- total value `2250/- :
Pay only `1200/-
42 May 2016 Life Insurance Today
