MODULE II – INTRODUCTION TO INSURANCE BUSINESS

MODULE II – INTRODUCTION TO INSURANCE BUSINESS-

Unit 1: Definition of insurance – Characteristics of insurance – Principles of contract of insurance – General Concepts of Insurance – Insurance and hedging – Types of insurance – Insurance intermediaries.

Unit 2 : Life Insurance Business – Fundamental principles of life insurance – Basic features of life insurance contracts – Life insurance products – Traditional and unitlinked policies – Individual and group policies – With and without profit policies – Types of life insurance policies – Term insurance – Whole life insurance and its variants – Endowment insurance and its variants – Annuities – Policies for children and females – Policies for handicapped lives – Pension plans – Health insurance – Claims settlement.

Unit 3 : General Insurance Business – Fundamental principles of general insurance – Fire insurance – Marine insurance – Motor insurance – Personal accident insurance – Liability insurance –Miscellaneous insurance – Claims settlement.