Q. What is the purpose of financial underwriting in insurance?

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Q. How much is the insurable interest that a person can have in his own life?

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Q. What are the three methods of arriving at the amount of insurance cover that an individual should take?

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Q. What is the human life value method based on?

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Q. What are the factors taken into account while using the human life value method to arrive at the insurance cover amount?

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Q. What is the needs analysis method based on?

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Q. What is the needs analysis method of arriving at the insurance cover amount?

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Q. In the needs analysis method, what financial responsibilities of the insured are taken into account?

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Q. What are the assumptions considered while using the needs analysis method to arrive at the insurance cover amount?

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Q. What is the multiple of salary method used for?

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Q. What factors determine the multiple of salary in the multiple of salary method?

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Q. What is the recommended income multiple for an individual aged 18-35 in the multiple of salary method?

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Q. What are the advantages of using the multiple of salary method?

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Q. What are the disadvantages of using the multiple of salary method?

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Q. There are various methods used to calculate how much insurance cover an individual should take. In which method is the present value of future earning potential of an individual used as a yardstick to calculate how much insurance cover an individual should take?

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Q. What is the challenge that underwriters face when granting insurance to non-working women?

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Q. What approach can be adopted to arrive at the insurance cover for non-working women?

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Q. What is the recommended approach when granting small sums assured to non-working women?

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Q. What needs to be considered when granting moderate or large covers to non-working women?

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Q. What is important to understand when granting insurance to non-working women?

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