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

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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?

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

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Q. What is the importance of considering the health status and cover of siblings and parents while insuring the life of a child?

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Q. What is the main purpose of child insurance plans?

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Q. What is the 'waiver of premium' built-in rider in most child plans?

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