FUNDAMENTALS OF LIFE INSURANCE: THEORIES AND APPLICATIONS, SECOND EDITION

Awareness of the basic features and categories of insurance is important in today’s life insurance market where all companies are offering a number of innovative products with multiple features. Divided into three parts, this book incorporates the basics of life insurance, risk management, and health and micro-insurance, in detail. Part I (Concepts, Principles and Processes) systematically defines life insurance, its legal contract and characteristics, marketing and distribution processes involved, and the future trends. Part II (Risk Management, Underwriting, Reinsurance and Claims) explicates the importance of risk management, the process of underwriting, and the types and concepts of reinsurance and claims. Part III (Employee Benefits, Pensions, Annuities, Micro-insurance and Health Insurance) covers allied topics, such as pension products, micro-insurance and health insurance which are increasingly becoming important for the industry for both the social and commercial perspectives.

Besides, it also explains various methods to calculate the extra premium charged for policyholders, with a higher than average risk of death, disease or accident.

KEY FEATURES

• Comprises real-life case studies relevant to various topics

• Includes review questions to judge student’s aptitude on the subject

• Incorporates figures, tables, boxes and appendices to illustrate the concepts and theories

• PowerPoint presentations available online at www.phindia.com/kaninikamishra

NEW TO THE EDITION

The second edition updates sections related to bancassurance, health insurance and pension reflecting the changes in the regulatory guidelines in the last four years.

Primarily intended for the students of MBA (Insurance) and BA (Banking and Insurance), this book will also be beneficial for the postgraduate students of commerce who opt for a course in insurance. The book will also be useful for professionals in the field.