INSURANCE

Class XI / Subject Code - 814
Insurance as a financial intermediary is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible Insurance is a means of protection from financial loss.
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Course Objective:

In this course, the students will be introduced to the fundamentals concepts of insurance and features and principles of various general insurance products available in our country. This course prepare the students to take up various positions in the insurance industry .The course is also a stepping stone for students aspiring to undertake higher education in Commerce, Insurance, Management, etc.

Course Features:

In this modern time, money and its necessity is very important. A developed financial system of the country ensures to attain development. To attain development there should be a good developed financial system to support not only the economic but also the society. So, a bank plays a vital role in the socio economic matters of the country.
Instructor

This course provides an introduction to insurance services and financial institutions;
students also compare the operations of different private institution products. Students examine the principles of insurance and the various services of LIC and GIC.

  • E-learning & Onsite classes
  • A 'Workshop' class
  • Industrial Visit
  • Certificate of Completion

Course Content

Session 1: Risk
Session 2: Financial Implications of Risk
Session 3: Insurance—Mechanism of Covering Risk
Session 4: Need for Insurance
Session 5: History of Insurance in India
Session 6: Nationalization of the Insurance Sector
Session 7: Liberalization in Insurance Sector
Session 8: Regulatory Body for Insurance Sector
Session 1: Organizational Set-Up
Session 2: Selling Life Insurance through Agents & Banks
Session 3: Objectives of Life Insurance
Session 4: Advantages of Life Insurance
Session 5: Types of Life Insurance Policies
Session 6: Principle of Insurable Interest and Utmost Faith
Session 7: Suicide Clause
Session 8: The procedure of taking a Life Insurance Policyv
Session 9: Nomination
Session 1: Annuities—Meaning
Session 2: How does Annuity Work
Session 3: Types of Annuities.
Session 4: ULIP‐‐ Concept
Session 5: Comparison between ULIP and Traditional Insurance Plans
Session 6: Mechanism of ULIP
Session 7: Deductions/ Charges of Fund Manager
Session 8: Factors for Selecting ULIP
Session 1: Lapse of Policy
Session 2: Revival of Lapsed Policy
Session 3: Surrender Value of Policy.
Session 4: Assignment of Life Insurance Policies
Session 5: The procedure of Settling Claims