Page 42 - Life Insurance Today March 2016
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Glossary & Poll
Life Insurance Glossary Poll of the Month
Dividend Will the Crop Insurance policy launched by
A return of part of the premium on participating insurance
to reflect the difference between the premium charged and the government, help the needy farmers in
the combination of actual mortality, expense and investment
experience. Dividends are not considered to be taxable dis- the long run?
tributions because they are interpreted as a refund of a
portion of the premium paid. Yes No Can’t Say
Evidence of Insurability Results of Poll in our February 2016 Issue
A statement or proof of your health, finances or job, which
helps the insurer decide if you are an acceptable risk for life Do you think after the devastating flood affect-
insurance. ing South India, the insurers and regulatory
bodies will come up with more products and
services?
Yes- 100 % No- 00 % Can’t Say- 00 %
Expense You may send your views to :
Your policy's share of the company's operating costs-fees for Poll Contest
medical examinations and inspection reports, underwriting,
printing costs, commissions, advertising, agency expenses, Life Insurance Today.
premium taxes, salaries, rent, etc. Such costs are important
in determining dividends and premium rates. 25, Baranashi Ghosh Street, Kolkata-7, India
Tel : 2218-4184, Fax : 033-22736612 SMS : 9830171022
Face Amount
The amount stated on the face of the policy that will be paid Appearing in Licentiate Examination
in case of death or at the maturity of the policy. It does not
include additional amounts payable under accidental death (As per New Syllabus)
or other special provisions, or acquired through the appli-
cation of policy dividends. Presenting for the first time in India a reliable and tested
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days) to an insured in order to examine the insurance policy examinations of Insurance Institute of India our research
and if not satisfied, to return it to the company for a full team has prepared this excellent set of guide materials. This
refund. book will cover objective type questions and answers as per
current syllabus and shall include questions of last 10
Insurable Interest previous terms (only objective questions)
For persons related by blood, a substantial interest estab-
lished through love and affection, and for all other persons, Subjects : General Insurance
a lawful and substantial economic interest in having the life Life Insurance 01 Principles of Insurance
of the insured continue. An insurable interest is required 01 Principles of Insurance 11 Practice of General Insurance
when purchasing life insurance on another person. 02 Practice of Life Assurance 14 Regulations on Insurance
14 Regulations on Insurance
Lapse Rate
The rate at which life insurance policies terminate because Cost: ` 650 each book including delivery charges
of failure to pay the premiums. When policies are lapsed
before enough premium payments are made to cover early Licentiate Exam Mock Test
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42 March 2016 Life Insurance Today
