COURSE OUTLINE INSURANCE OF PERSONS


Chapter 1 - INTRODUCTION
A - THE FLAT-RATE NATURE OF INSURANCE OF PERSONS
1 - The principle of the lump sum
2 - The exception: personal indemnity insurance
B - THE FINANCIAL PURPOSE OF LIFE INSURANCE
C - THE NOTION AND DEFINITION OF RISK
Part 1 - LIFE INSURANCE
Chapter 2 - BASIC PRINCIPLES OF LIFE INSURANCE
A - RISK POOLING
B - THE LAW OF LARGE NUMBERS
C - PRINCIPLE OF UTMOST FAITH
D - INSURABLE INTEREST

Chapter 3 - GUARANTEED RISKS IN LIFE INSURANCE
A - LIFE INSURANCE
1 - Deferred capital insurance
2 - Life annuity insurance
B - INSURANCE IN THE EVENT OF DEATH
1 - "Whole life" death insurance
2 - Term-death insurance
3 - Survival insurance
C - MIXED INSURANCE
1 - Ordinary mixed insurance
2 - Fixed-term mixed insurance
3 - Combined insurance
D - COMPLEMENTARY INSURANCE
 
Chapter 4 –TYPES OF LIFE INSURANCE POLICIES
A – TERM LIFE OR TERM INSURANCE POLICY
1 – Straight term insurance
2 –renewable term insurance
3 – Convertible term Insurance
4 – Decreasing term insurance
B – WHOLE LIFE ASSURANCE
C – ENDOWMENT POLICIES
1 – Pure endowment policies
2 – Ordinary endowment policies
3 – Joint life Endowment policy
4 – Children educational plan
D – GROUP INSURANCE

Chapter 5–UNDERWRITING OF LIFE INSURANCE CONTRACTS
A - REQUIREMENTS FOR INSURANCE CONTRACT
1 - Basic Requirements
2 - Information
3 - Acceptance
4 - Consideration
5- Competent Parties
5 - Option of waiver of the subscriber
B - PROTECTION OF THE INCAPABLE SUBSCRIBER
D - THE SELECTION OF RISKS IN INSURANCE IN THE EVENT OF DEATH
1 - Purpose of the selection
2 - Methods of selection
a) Medical questionnaire
b) Medical examination

Chapter 6 - CALCULATION OF THE PREMIUM IN LIFE INSURANCE
MORTALITY TABLES AND LIFE TABLES
A - MORTALITY TABLES
B - TYPES OF MORTALITY TABLES
C - LIFE TABLES

Chapter 7 - THE PAYMENT OF THE PREMIUM IN LIFE INSURANCE
A - PAYMENT OF THE LIFE INSURANCE PREMIUM
B - THE CONSEQUENCES OF NON-PAYMENT OF THE PREMIUM

Chapter 8 -THE RIGHTS OF THE INSURED ON THE MATHEMATICAL PROVISION
A - THE REDUCTION
B – REDEMPTION
C - ADVANCE ON POLICE
D - POLICE PLEDGE

Chapter 9 - THE BENEFICIARY OF THE INSURANCE IN THE EVENT OF DEATH
A - THE NOMINATION OF THE BENEFICIARY
1 - The terms of designation of the beneficiary
2 - Determination of the beneficiary
B - REVOCATION OF THE DESIGNATION
1 - The holders of the right of revocation
2 - The consequences of revocation
C - THE CASE OF ABSENCE OF A VALID DESIGNATION
D - THE SEARCH FOR BENEFICIARIES

Chapter 10 - THE SETTLEMENT OF CLAIM IN LIFE INSURANCE
A - GENERAL INSURANCE CLAIMS
1 - Preliminary procedure
a) Notice of Loss
b) Procedural issues
c) Claim Forms
2 - Investigation and assessment
3 - Claims Documents
4 - Arbitration
5 – Settlement
B - CLAIMS PROCEDURE IN RESPECT OF A LIFE INSURANCE POLICY
C - DETERMINATION OF PROFITS
D - THE DISTRIBUTION OF PROFITS AMONG THE INSURED
E – PARTICULARS OF LOSS
F – FRAUDULENT CLAIMS


Part 2 - BODILY INJURY INSURANCE: INSURANCE AGAINST BODILY ACCIDENTS AND COMPLEMENTARY HEALTH INSURANCE

Chapter 11 - RISKS IN BODILY ACCIDENT INSURANCE
A - GUARANTEED RISKS
1 - The notion of bodily injury
2 - Coverage of bodily accident contracts
B - RISK EXCLUSIONS
C - THE PREMIUM IN THE ACCIDENT INSURANCE OF PERSONS

Chapter 12 - LOSS IN BODILY ACCIDENT INSURANCE
A - IMPLEMENTATION OF THE GUARANTEE
B - THE NATURE OF THE BODILY ACCIDENT INSURANCE BENEFITS
C - PAYMENT OF BODILY ACCIDENT BENEFITS

LIFE AND HEALTH INSURANCE


Chapter 1 - INTRODUCTION
A - WHAT IS INSURANCE?
B - MAIN CHARACTERISTICS OF INSURANCE
1 Pooling and risk reduction
2 - Payment of accidental and unintentional losses
3 - Risk transfer
4 - Principle of indemnity
C - ESSENTIAL FEATURES OF AN INSURABLE RISK
D - INSURANCE AND WAGER
E-INSURANCE AND GAMBLING
F - TYPES AND CLASSIFICATION OF INSURANCE
G - CLASSIFICATION OF LIFE AND HEALTH INSURANCE
H - ECONOMIC BASIS OF LIFE AND HEALTH INSURANCE
I - DEMAND FOR AND SUPPLY OF LIFE AND HEALTH INSURANCE
J - THE PRODUCTION OF LIFE AND HEALTH INSURANCE
K - BENEFITS DERIVED BY SOCIETY THROUGH INSURANCE
1 - Reduces worry and fear
2- Makes available funds for investment
3 - Insurance enhances credit worthiness
4 - Invisible earnings
5 - Social benefits
K - COSTS OF INSURANCE TO SOCIETY
L - SCOPE OF COVERAGE OF RISKS
M - HOW MUCH INSURANCE DOES A MAN NEED?

Chapter 2 - THE FUNDAMENTAL PRINCIPLES OF LIFE
A - INTRODUCTION TO THE PRINCIPLES OF LIFE INSURANCE
1. Legal capacity
2. Mutual assent
3. Consideration clause
4. Legal purpose
B - DISTINGUISHING CHARACTERISTICS OF INSURANCE CONTRACTS
C - FUNDAMENTAL PRINCIPLES OF INSURANCE
1 - The Principle of Utmost good Faith
2 Representation
3. Implications of concealment, non-disclosure or misrepresentation by the insured
4. Implications of non-disclosure by the insurer
5. Waiver and estoppel
D - RULES OF CONTRACT CONSTRUCTION
E - OTHER RULES
1. Presumption of death and disappearance
2. Insuring agreement
3. Insurer’s liability for delay, improper rejection, or failure to act
4. The law as it pertains to the agent
F - ASSIGNMENT PROVISION
G - EXCLUSION AND HAZARD RESTRICTION CLAUSES

Chapter 3 - PRICING ELEMENTS
A - PRICING INDIVIDUAL LIFE AND HEALTH INSURANCE PRICING OBJECTIVES
1. Rate adequacy
2. Rate equity
3. Rates not excessive
C - PRICING ELEMENTS
1. The probability of the insured event occurring
2. The time value of money
3. Loading to cover expenses, taxes, profits, and contingencies
4. The benefits promised

Chapter 4 - LIFE INSURANCE PRODUCTS
A - TERM ASSURANCE PLANS
1 - Nature of term insurance
2 - Features
3 -Types of Term Life Insurance Policies
B - WHOLE LIFE INSURANCE POLICIES
1 - The nature of whole life insurance
2 -Whole life as endowment or term insurance
3 - Types of whole life insurance policies
C - UNIVERSAL LIFE [U.L.] INSURANCE
1 -Origin and growth
2 -Nature
4 - Uses of Universal Life Insurance
5 -Limitations
D - VARIABLE UNIVERSAL LIFE INSURANCE
1 - Nature of Variable Universal Life insurance
2 - Uses
3 - Dangers
D - OTHER FLEXIBLE PREMIUM POLICIES
1 Adjustable Life Insurance
2 -Flexible Enhanced Ordinary Life

Chapter 5 - HEALTH INSURANCE FRAMEWORK
A - HEALTH RISKS
B - IMPORTANCE OF HEALTH INSURANCE
1 – Definition
C - HEALTH INSURANCE POLICIES
1 - Disability Income insurance
2 - Medical Expense Insurance
3 - Long-term Care Insurance
4 - Major Medical Insurance
D - STUDY OF SOME HEALTH INSURANCE SYSTEM IN THE WORLD
1 - Australian system
2 - Canadian system
3 - French system
4 - German system
5 - Indian system
6 - Japanese system
7 – Netherland’s system
8 – Rwandan system
9 - United Kingdom system
10 - United States system