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

View solution

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

View solution

Q. What is the needs analysis method based on?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. Why is it important to understand who the beneficiary of the insurance policy is for non-working women?

View solution

Q. What is the potential risk when an illiterate woman with little or no earned income asks for a term plan with a high sum assured?

View solution

Q. Why do parents apply for insurance on the lives of their children?

View solution