Licentiate Exam - IC 02 Practice of Life Insurance Exam - Important Points

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  • videoBasic Insurance Concepts
  • An organisation is a legal entity which is created for some activity or to achieve some purpose.
  • In the case of life insurance, the insurer agrees to pay the insured or their heirs, a certain sum of money on death or on the happening of an event dependent upon human life, in consideration of premiums paid by the assured.
  • The primary objective of Life Insurance Companies is to spread life insurance widely and to maximise mobilisation of people's savings.
  • Mortality studies reflecting the experience of Indians are made by the Mortality and Morbidity Investigation Bureau (MMIB)

IC02 Practice of Life Insurance