Important Points for IC 22 - Life Insurance Underwriting Exam
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The human life value method of calculating insurance cover takes into account the present value of the future earning potential of an individual.
The needs analysis method of calculating insurance takes into account the value of financial liabilities and responsibilities of an individual.
The income multiple method of calculating insurance takes into account the age and income of the individual.
It is difficult to arrive at the insurable value where the services of are not compensated financially (e.g. housewives).
Insurance on minors is mostly taken keeping in mind their future development.
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