Licentiate Exam - IC 02 Practice of Life Insurance Exam - Important Points
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Cashless Facility - a facility extended by the insurer to the insured where the payments of the costs of treatment undergone by the insured are directly made to the network provider by the insurer.
A rider is an additional clause or condition added to the base policy that gives additional (add-on) benefit to the buyer.
Industrial life insurance refers to a low cost insurance plan for low income groups working in industries.
Key man Insurance - It can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business
Annuity is a contract between an individual and the insurance company, in which the individual pays a lump-sum amount or regular payments to the insurance company and at the end of a specified period, the insurance company provides regular income to the individual.
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