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Principles of Insurance: The Backbone of Coverage (课程)

Understanding the Fundamental Principles That Govern All Insurance Types

所有级别 • 18 讲座 • 终身无限畅学
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Principles of Insurance: The Backbone of Coverage
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你将学到什么

1. What are the seven basic principles of Insurance?
2. What are the main elements of a life insurance contact?
3. Life insurance is not a contract of indemnity. Discuss.
4. Whether insurable interest in case of life insurance must be present both at the inception and maturity of the policy? Discuss.
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课程内容

9 部分 • 18 讲座 • 06:09:22 总长度

Introduction

30:54

Insurance is like a safety net. It helps protect you from financial losses caused by unexpected events. Imagine your car gets into an accident.


This course will teach you about the rules and types of insurance. We'll start by explaining what insurance is and how it works. Then, we'll talk about the important rules that everyone should know. These rules make sure that insurance contracts are fair and honest.


We will explore the different types of insurance. Life insurance helps your loved ones financially if something happens to you. We will discuss how life insurance works and why it is important. Health insurance covers medical expenses, and home insurance protects your property from damage. With car insurance, you can get repairs or a replacement without spending a lot of money out of pocket.


Insurance works by having you pay a small amount of money each month, called a premium. In exchange, the insurance company promises to pay you a certain amount of money if you experience a covered loss.


Insurance can be customized to fit your specific needs. Whether you need protection for your home, car, or health, there's an insurance policy out there for you.


It's important to understand the terms and conditions of your insurance policy. This will help you know what is covered and what isn't. You should also make sure you have enough coverage to meet your needs.

Meaning and Importance of Insurance

19:42

What is meant by insurance?


What type of compensation insurance provides?


What is the importance of insurance?


What will happen if any risk happens?


Between whom does insurance contract take place?

Seven Principles of Insurance

22:19

What are the seven principles of insurance?

Principle of Utmost Good Faith

27:58

Insurance contract is a contract of uberrimae fidei. What does it mean?

What is fundamental difference between insurance contract and most other commercial contracts?

Whether principle of utmost good faith is applicable to all types of insurance?

What is meant by material fact? Give example.

What are the consequences if insured breaches utmost good faith?

If the insurer fails to uphold the principle of utmost good faith, what are the potential repercussions?

Principle of Insurable Interest

27:58

When a person is said to have an ‘insurable interest’ in something?

Whether a creditor has an insurable interest in the life of a debtor?

When should insurable interest be established in an insurance contract: at the inception of the policy, at the time of a claim, or both?

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No skills, experience or equipment required. You will learn everything you need to know.

目标受众

Students who are interested to learn about Principles of Insurance and types of Insurance

关于本课程

What is meant by insurance?

What type of compensation insurance provides?

What is the importance of insurance?

What will happen if any risk happens?

Between whom does insurance contract take place?

What are the seven principles of insurance?

Insurance contract is a contract of uberrimae fidei. What does it mean?

What is fundamental difference between insurance contract and most other commercial contracts?

Whether principle of utmost good faith is applicable to all types of insurance?

What is meant by material fact? Give example.

What are the consequences if insured breaches utmost good faith?

If the insurer fails to uphold the principle of utmost good faith, what are the potential repercussions?

When a person is said to have an ‘insurable interest’ in something?

Whether a creditor has an insurable interest in the life of a debtor?

When should insurable interest be established in an insurance contract: at the inception of the policy, at the time of a claim, or both?

What is meant by principle of indemnity?

Whether principle of indemnity is applicable to life insurance?

What are the various factors which affect indemnity in insurance?

What is meant by principle of proximate cause?

What is the meaning of proximate cause?

When is an insurance company liable for a loss that is the result of multiple causes?

Determination of proximate cause is often a complex legal question. Discuss.

What are the various challenges in determining Proximate Cause?

What is meant by concurrent causes?

What is meant by intervening cause?

Do large claims increase the likelihood of insurers denying liability for claim?

What happens if there is a dispute between insurer and insured with regard to proximate cause of loss?

What is meant by the principle of subrogation?

What is the purpose of subrogation?

What is meant by principle of contribution?

How is liability apportioned among multiple insurers covering the same loss?

How the principle of contribution prevents the insured from profiting from the loss?

Whether the principle of contribution is applicable to all types of insurances?

What is meant by principle of loss minimization?

What are the various benefits of loss minimization?

What are the various functions of insurance?

How the insurance improves the efficiency of the organization?

Insurance helps in capital formation. Discuss.

What are the various types of insurance? Discuss.

What is meant by life insurance?

Whether the policy holder pays the life insurance premium in lumpsum?

What are the various benefits of life insurance?

What if the principle of insurable interest were not applied to life insurance?

Whether the claim is payable if the insured dies by suicide?

The life insurance contract must have all the essentials of a valid contract. What are those essentials?

What are the unique elements of a life insurance contract?

What is meant by material facts?

Life insurance is not a contract of indemnity. Discuss.

What key factors should be considered when choosing a life insurance policy?

What are the various factors which affect life insurance premium?

What are the various types of life insurance policies?

Write a few lines on whole life policy?

What do you know about joint life policy?

For whom are annuity policies a suitable financial investment?

In children's endowment policies, is the life insurance coverage primarily for the child or the parent?

What are the primary benefits and features offered by money-back insurance plans?

Who typically purchases group insurance plans?

What is meant by term insurance?

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