Principles of Life Insurance — DU B.A. (V.S.) Insurance Management Previous Year Question Papers

1. Critically examine the major reforms in the Indian insurance sector. How have these reforms transformed the structure, competition, and growth of the life insurance industry in India ? 2. Discuss the changing role and relevance of life insurance in the modern economy. In light of rising financial awareness and evolving risks, how should individuals plan their insurance coverage ? - 3. Describe the contents of a typical life insurance. policy document. Why is each -component important for both the insurer and the insured ? 4. Define a life insurance contract and explain its special features. How do these features distinguish it from general contracts under law ? Discuss their importance in business continuity and the financial protection of partners. 6. Differentiate between Single Premium Policies and Regular Premium Policies. Discuss their advantages and disadvantages from the perspective of affordability, risk coverage, and investment discipline. Explain the concept and structure of Unit Linked Insurance Policies (ULIPs). Discuss their key features and critically evaluate their advantages and limitations in comparison to traditional life insurance products. 8: Write short notes on any three: Difterentiate between UPs and traditional life insurance plans (b) Variable Life Insurance Policies (c) Types of life insurance contracts = (d) Revival of lapsed policy (e) Human Life: Value (HILV). (a) "Raf →a d yes (Variable Life Insurance Policies) (8) * i go yee a 9u (Revival of Lapsed Policy)