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Chapter 9 Life Insurance

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Chapter 9 Life Insurance Content 1. Meaning of Life Insurance 2 Types of Life Insurance 3. Policy Features 4. Annuities 5. Permanent Health Insurance 6. – PowerPoint PPT presentation

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Title: Chapter 9 Life Insurance


1
Chapter 9 Life Insurance
2
Content
  • 1. Meaning of Life Insurance
  • 2 Types of Life Insurance
  • 3. Policy Features
  • 4. Annuities
  • 5. Permanent Health Insurance
  • 6. Group policies

3
1. Meaning of Life Insurance
Life insurance refers to an individual who
ensures his life or limb as the subject matter of
insurance.
4
2 Types of Life Insurance
Whole-Life Insurance
Endowment Insurances
Types
Pure Endowments
Term Insurance
5
3. Policy Features
Surrender Values
Paid-up Value
Features
Non-forfeiture
Suicide
Other Restrictions
6
4. Annuities
  • 4.1 Immediate Annuities
  • An immediate annuity is a contract when the first
    payment falls due either the moment the purchase
    price is paid in advance or after the regular
    interval prescribed in the policy in arrear. The
    frequency of payment is usually monthly,
    quarterly or half-yearly. As the benefits vest
    immediately the policy is secured by a single
    premium.

7
4. Annuities
  • 4.2 Deferred Annuities

Non-returnable
Returnable without Interest
Returnable with Interest
8
5. Permanent Health Insurance
Disability Insurance
Friendly Societies and Permanent Health Insurance
classification
Policy Conditions
9
The End of Chapter 9
Next Chapter
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