Important Points for IC 26 - Life Insurance Finance Exam
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The life insurance fund is the sum of the reserve held on all the policies in the books of an Insurer.
The paid-up value may be considered the deferred payment of the surrender value and the surrender value as the discounted value of the paid-up amount.
In India, Life insurance business commenced in 1818, with the establishment of Oriental life insurance company in Calcutta.
Life insurance is a contract between an insurer and a policyholder, in which the insurer promises to pay a certain amount of predetermined money to the insured or his beneficiary, if a certain event occurs.
One important difference between Life Insurance and other forms of insurance is with respect to the
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