CONTENTS

1.  History of life assurance

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Introduction

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History

2.  Actuaries and underwriters

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Mathematics

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The actuary

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Mortality factor

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Level premium system

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Underwriters

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Selection

3.  Investment

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Introduction

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Benefits to policyholders

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Benefits to the community

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Investment-linked contracts

4. Contract law

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Life assurance contracts

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Legal requirements
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offer and acceptance

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consideration

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utmost good faith and the declaration

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insurable interest

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capacity to contract

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Policy

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Assignment

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Paid-up policy, surrender and loan

5.  Types of plans

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Introduction

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Term:
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suitable for protection of dependants

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Whole of life:
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suitable for lifetime protection of dependants

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Endowment:
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suitable for long term investment (with an element of guarantee)

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Annuities

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Critical illness & long term care:
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suitable for protection for dependents and self

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Permanent health insurance:
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suitable for income protection

6.  Taxation now and in the future

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Introduction

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ISA's

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New form of pension arrangements
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ISA (Individual Savings Account)

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PEPS post 1999

7.  Trusts

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Introduction

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Example

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Conclusion

8.  The market

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Introduction

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Mutual offices

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Proprietary offices

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Lloyd's of London

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Industrial life assurance

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Friendly societies

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Association of british insurers

9.  Regulation

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Introduction

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Specified investments under the act

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Investments which constitute investment business

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Obtaining authorisation

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Financial services authority

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Personal investment authority

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Insurance ombudsman bureau

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Pensions ombudsman

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PIA ombudsman

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Selling life assurance

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Life companies

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Appointed representatives

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Independent intermediaries (or IFA's)

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Banks and building societies

10.  Training information:

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Information