Page 42 - Life Insurance Today December 2017

Glossary & Poll

Life Insurance Glossary Poll of the Month

Do you think IRDA should expedite the hearing
Insurability: against Insurance Companies and Intermediar-
General acceptability by an insurance company of an appli- ies and announce its verdict within a reason-
cant for insurance based on underwriting review, which may " able period
include items such as the applicant's current health status, Yes No Can’t Say
medical history and driving record among others.
Results of Poll in our November 2017 Issue
Insurable Interest:
The existence of potential financial loss on the part of the Do you think recent IPO’s of insurance compa-
policy owner and/or beneficiary(s) in the event of the death nies would help to increase awareness about
of the insured. The policy owner and any beneficiaries must insurance companies
have an insurable interest.
Yes- 100 % No- 00 % Can’t Say- 00 %
Insurance: You may send your views to :
A system for reducing risk by transferring the risks of sev- Poll Contest
eral individual entities to one entity, such as an insurance Life Insurance Today.
company. Each individual entity contributes monetarily (pre- 25, Baranashi Ghosh Street, Kolkata-7, India
miums) to cover the risk assumed by the insurance company. Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
Appearing in Licentiate Examination
Insurance Company:
(As per New Syllabus)
A company that provides insurance coverage through the
Presenting for the first time in India a reliable and tested
issuance of insurance policies. This is also referred to as the coaching solution from the house of The Insurance Times, a
Insurer. renowned name in the field of insurance education. After
closely studying the needs of students appearing for the
Insurance Department: examinations of Insurance Institute of India our research
An area within each state's government that administers and team has prepared this excellent set of guide materials. This
book will cover objective type questions and answers as per
regulates the insurance industry within the state.
current syllabus and shall include questions of last 10
previous terms (only objective questions)
Insurance Needs Estimator:
Subjects :
A proprietary software program developed by QuickQuote
Life Insurance General Insurance
to estimate the amount of life insurance protection an indi- 01 Principles of Insurance 01 Principles of Insurance
vidual needs. 02 Practice of Life Assurance 11 Practice of General Insurance
14 Regulations on Insurance 14 Regulations on Insurance
Insurance Policy: Cost: `` `` ` 650 each book including delivery charges
The physical, written document issued by an insurance com- Licentiate Exam Mock Test
pany to the policy owner. The insurance policy represents
Insurance Training Centre, wing of The Insurance Times is
the written contract between the insurance company and
pleased to announce the launch of online Mock Tests for
the policy owner.
Licentiate exams. Each course contains mock test for each
chapter followed by a final Mock Test covering all the
Insured: chapters. After completing this online you can assess your
The individual covered by an insurance policy. level of preparedness and if required you can brush up
again in order to score good marks. `` `` `300/- each paper.
Irrevocable Beneficiary: Combo Offer : 3 Books plus Online Mock Test for 3
A type of beneficiary designation that cannot be changed papers worth `` `` `900/- total value `` `` `2850/- :
without the written consent of the beneficiary. Pay only `` `` `1420/-

42 December 2017 Life Insurance Today

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