Introduction
History
Mathematics
The actuary
Mortality factor
Level premium system
Underwriters
Selection
Benefits to policyholders
Benefits to the community
Investment-linked contracts
Life assurance contracts
Legal requirements
offer and acceptance
consideration
utmost good faith and the declaration
insurable interest
capacity to contract
Policy
Assignment
Paid-up policy, surrender and loan
Term:
suitable for protection of dependants
Whole of life:
suitable for lifetime protection of dependants
Endowment:
suitable for long term investment (with an element of guarantee)
Annuities
Critical illness & long term care:
suitable for protection for dependents and self
Permanent health insurance:
suitable for income protection
ISA's
New form of pension arrangements
ISA (Individual Savings Account)
PEPS post 1999
Example
Conclusion
Mutual offices
Proprietary offices
Lloyd's of London
Industrial life assurance
Friendly societies
Association of british insurers
Specified investments under the act
Investments which constitute investment business
Obtaining authorisation
Financial services authority
Personal investment authority
Insurance ombudsman bureau
Pensions ombudsman
PIA ombudsman
Selling life assurance
Life companies
Appointed representatives
Independent intermediaries (or IFA's)
Banks and building societies
Information