Gain practical skills, sharpen strategic insights, leverage AI, and supercharge career growth
- Comprehensive introduction to the principles and practices of life insurance from product design to claim settlement.
- Covers both theoretical foundations and practical procedures crucial for all life insurance operations.
- Prepares students for careers in the insurance industry by imparting deep knowledge of key concepts, regulations, and industry practice.
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Program
Highlights
Future-Ready Skills
Professional Growth
Accredited Certification
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Skill Enhancement
Career in Finance
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Principles and Practice of Life Insurance
Discover How We Efficiently Cover Every Detail?
Module 1: Introduction to Life Insurance
- Concept of risk and insurance
- History and evolution of life insurance
- Basic principles: pooling, indemnity, insurable interest, utmost good faith
- Life insurance vs. general insurance
- Role of life insurance in financial planning
Module 2: Types of Life Insurance Products
- Term, Whole Life, Endowment, Money-Back policies, Group Life
- Unit-linked insurance plans (ULIPs)
- Children’s and pension plans
- Riders and supplementary benefits
Module 3: Policy Structure and Operations
- Key components of a life insurance contract
- Proposal forms and policy issuance
- Policy terms: sum assured, premium, tenure, maturity
Module 4: Policy Servicing and Claims
- Premium collection, lapse, and revival
- Surrender and loan against policy
- Death and maturity claim process
- Early claims and fraud detection basics
Module 5: Distribution and Marketing of Life Insurance
- Agency model and agent training
- Bancassurance, brokers, direct and online sales
- Digital transformation and Insurtech in life insurance
- Marketing ethics and customer-centric selling
Module 6: Legal and Regulatory Framework
- IRDAI regulations relevant to life insurance
- Licensing and code of conduct
- Insurance Act and policyholder protection
- Grievance redressal mechanisms
Practical Knowledge from Industry Professionals
Our faculty’s extensive industry experience is the cornerstone of our exceptional insurance training