Important Points for IC 26 - Life Insurance Finance Exam
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Total of loans disbursed and collected are posted in General ledger control accounts by accountants in case of loans against insurance policies.
Maturity claims are payments made to the surviving policyholders on the expiry of the terms of the policies.
If Fund value of units is higher than sum assured the death claim payment will be made only from unit fund only and non -unit fund will not be touched.
In domiciliary treatment benefit, claim payment under hospitalisation, is made out of unit fund only.
Loan against policies are shown as assets in the Balance Sheet of Insurance Company.
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