Non-Traditional Life Insurance Plans

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Home - Products - Off-the-shelf Courses - Compliance and Technical - Non-Traditional Life Insurance Plans

Non-Traditional Life Insurance Plans

Overview

 Duration: 1 hour

Individuals who seek to invest their money in high-risk investments buy non-traditional insurance plans. For instance, unit linked insurance plans allows the insured to choose between equity, debt and mixed market investment vehicles.

Depending on the risks involved, the insurance plans will differ for every customer. The premiums for these plans also differ. You should be aware of this information before investing in these plans.

On the other hand, if you are an insurance agent, you will need to have in-depth product knowledge of various non-traditional insurance plans available in the market. This will help you position your product appropriately based on the specific needs of your customers and help them choose the best plan.

In this course, we will discuss the different aspects of non-traditional insurance plans and the benefits it offers to a variety of customers. An important aspect of this type of insurance is that the customer has to bear the investment risk. This aspect is covered in detail in this course.

This course is useful for insurance agents who sell insurance policies as well anyone who needs to understand the insurance basics and avail an insurance policy. It will help an insurance agent to educate his prospective buyers and also help individuals to make a profitable investment decision.

This course will help you to understand the different types and aspects of non-traditional life insurance plans as outlined below:
  •   Non-Traditional Life Insurance
    Products—Introduction
  •   Universal Life Plans
  •   Traditional and Variable Insurance Plans
  •   Unit Linked Insurance Plans (ULIP)
  •   ULIPs and Investment Risk
  •   Pension and Annuities

At the end of this module, you should be able to:

  •   Explain variable insurance plans.
  •   Describe unit linked insurance plan and its benefits.
  •   Explain pension schemes and their types.
  •   Describe annuities and their types.

This course is meant to benefit:

  •   Insurance agents who seek to influence prospective customers
  •   Entry-level sales personnel who aim to establish their career in the field of insurance
  •   Individuals who need to evaluate insurance plans to choose a right plan for themselves
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