Page 42 - Life Insurance Today February 2018

Glossary & Poll

Life Insurance Glossary Poll of the Month

Do you think merger of 3 PSU companies will
Living Benefit: help in consolidation and expanding reach.
A benefit that provides for the payment of a portion of the
death benefit prior to an insured's death should the insured "
be diagnosed as terminally ill. The specific requirements vary Yes No Can’t Say
by company. This is commonly called an Accelerated Death
Benefit. Results of Poll in our January 2018 Issue

Lump Sum: Do you think Pradhan Mantri Health Schemes
The primary method of the settlement of a life insurance are losing steam
policy. The policy proceeds are paid to the beneficiary(s) all
at once rather than in installment payments.
Yes- 100 % No- 00 % Can’t Say- 00 %
Material Misrepresentation:
A statement made by an applicant or proposed insured in You may send your views to :
the policy's application which is not factually correct. If the Poll Contest
truth had been disclosed, the insurance company would not Life Insurance Today.
have issued the policy, would have issued it differently, or 25, Baranashi Ghosh Street, Kolkata-7, India
would have issued it with limited benefits or a higher pre- Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
mium. Appearing in Licentiate Examination

Medical Examination: (As per New Syllabus)
An exam completed by a physician. The exam may be re- Presenting for the first time in India a reliable and tested
quired as a part of medical underwriting. coaching solution from the house of The Insurance Times, a
renowned name in the field of insurance education. After
Medical Information Bureau (MIB): closely studying the needs of students appearing for the
A service that compiles medical information and application examinations of Insurance Institute of India our research
history of individuals who have applied for insurance in the team has prepared this excellent set of guide materials. This
past. Most insurance companies check an applicant's MIB book will cover objective type questions and answers as per
report during underwriting. current syllabus and shall include questions of last 10
previous terms (only objective questions)
Mental Health/Behavioral Health: Subjects :
A condition or disease regardless of its cause, listed in the Life Insurance General Insurance
most recent edition of the American Psychiatric Association's 01 Principles of Insurance 01 Principles of Insurance
Diagnostic and Statistical Manual of Mental Disorders. 02 Practice of Life Assurance 11 Practice of General Insurance
14 Regulations on Insurance 14 Regulations on Insurance
Misrepresentation:
Cost: `` `` ` 650 each book including delivery charges
The act of making, issuing, circulating, or causing to be is-
sued or circulated any written or verbal statement that does Licentiate Exam Mock Test
not accurately represent the correct policy terms. Insurance Training Centre, wing of The Insurance Times is
pleased to announce the launch of online Mock Tests for
Mode: Licentiate exams. Each course contains mock test for each
The term of premium payments for an insurance policy. Typi- chapter followed by a final Mock Test covering all the
cal modes include monthly, quarterly, semi-annual and an- chapters. After completing this online you can assess your
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nual.
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Moral Hazard:
Combo Offer : 3 Books plus Online Mock Test for 3
A condition of morals or habits that could affect and papers worth `` `` `900/- total value `` `` `2850/- :
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42 February 2018 Life Insurance Today

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