Important Points for IC 22 - Life Insurance Underwriting Exam
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A predominant reason to purchase life insurance on the life of a key person is to indemnify the company against the loss of the key person whose skills and contribution is critical to the company.
In the case of partnership insurance, the amount of cover on each partner?s life will depend on the amount of purchase money required to be paid to the heirs in the event of the death of any partner.
An HUF consists of a Karta, coparceners and members.
Under the MWP Act, the beneficiary of an insurance policy can be : Wife alone; or One or more children (both natural and adopted); or Wife and one or more children jointly
Basic financial document requirements for all cases include completely filled proposal form, agent?s confidential report, financial questionnaire etc.
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