Page 42 - Life Insurance Today January 2018

Glossary & Poll

Life Insurance Glossary Poll of the Month

Do you think Pradhan Mantri Health Schemes
Irrevocable Trust: are losing steam
A trust that cannot be revoked or amended by the party who
establishes it. This type of trust is often established when " Can’t Say
life insurance is purchased to protect an estate. Yes No

Issue Date: Results of Poll in our December 2017 Issue
The actual date an insurance policy is issued. This may also Do you think IRDA should expedite the hearing
be the effective date of the policy.
against Insurance Companies and Intermediar-
ies and announce its verdict within a reason-
Juvenile Insurance:
Life insurance issued on the life of a child. This type of life able period
insurance policy is typically whole life insurance.
Yes- 100 % No- 00 % Can’t Say- 00 %
Key Person Insurance:
You may send your views to :
An insurance policy placed on the life of an important per-
Poll Contest
son within a company. The policy proceeds are used to off- Life Insurance Today.
set the loss experienced by the company due to the person's 25, Baranashi Ghosh Street, Kolkata-7, India
death. Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
Lapse: Appearing in Licentiate Examination
The termination of an insurance policy due to non-payment (As per New Syllabus)
of premium.
Presenting for the first time in India a reliable and tested
Lapse Notice: coaching solution from the house of The Insurance Times, a
renowned name in the field of insurance education. After
The notice provided in writing to the policy owner that the
policy has lapsed. closely studying the needs of students appearing for the
examinations of Insurance Institute of India our research
Level Premium: team has prepared this excellent set of guide materials. This
book will cover objective type questions and answers as per
A premium that remains the same throughout the period
current syllabus and shall include questions of last 10
specified in the insurance policy.
previous terms (only objective questions)
Level Term Insurance: Subjects :
A type of term life insurance policy where the face value Life Insurance General Insurance
remains the same throughout the period specified in the 01 Principles of Insurance 01 Principles of Insurance
insurance policy. 02 Practice of Life Assurance 11 Practice of General Insurance
14 Regulations on Insurance 14 Regulations on Insurance
Life Expectancy: Cost: `` `` ` 650 each book including delivery charges
The average number of years of life remaining for persons Licentiate Exam Mock Test
of a given age according to a particular mortality table.
Insurance Training Centre, wing of The Insurance Times is
Life Insurance: pleased to announce the launch of online Mock Tests for
Licentiate exams. Each course contains mock test for each
Coverage placed on the life of an individual whereas an in-
chapter followed by a final Mock Test covering all the
surance company issues a policy and pays a stated death
chapters. After completing this online you can assess your
benefit in the event of the insured's death.
level of preparedness and if required you can brush up
Life Insurance Trust: again in order to score good marks. `` `` `300/- each paper.
A type of life insurance policy where a trust company is Combo Offer : 3 Books plus Online Mock Test for 3
named as the beneficiary and distributes the proceeds of the papers worth `` `` `900/- total value `` `` `2850/- :
policy under the terms of the trust agreement. Pay only `` `` `1420/-

42 January 2018 Life Insurance Today

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