Life Insurance · advanced
Advanced Life Insurance Concepts
Further life insurance concepts: human life value, estate planning, how ULIPs and mutual funds differ, life insurance for businesses, reinsurance, actuarial basics, buying online, and recent legal changes in India.
- 01Human Life Value (HLV) — How the Estimate Is Worked OutWhat Human Life Value measures, how the estimate is built from income, tax, personal consumption and a discount rate, how it differs from a needs-based calculation, and how insurers test a proposed sum assured against income.
- 02Insurance & Estate Planning — Will, Trust & SuccessionWhere life insurance sits in estate planning: how property passes with and without a will, what a nomination under section 39 of the Insurance Act does and does not do, and how a policy under section 6 of the Married Women's Property Act, 1874 is held in trust.
- 03ULIP and Mutual Fund — How the Two Structures DifferA side-by-side description of two different structures: the unit-linked insurance plan, a life insurance product regulated by IRDAI, and the mutual fund, an investment product regulated by SEBI. It covers what each contains, how costs are recovered, the lock-in and the tax conditions.
- 04Life Insurance for Business — Buy-Sell Agreements & Business SuccessionHow businesses use life insurance: keyman cover, funding a buy-sell agreement among owners, cover assigned to a lender, what the Indian Partnership Act says about a partner's death, and the income-tax treatment of premiums and proceeds.
- 05Reinsurance in Life Insurance — How Risk is SharedWhat reinsurance is and why life insurers use it, the meaning of retention and cession, how proportional and non-proportional arrangements share premiums and claims, the follow-the-fortunes principle, and where the policyholder stands.
- 06Actuarial Basics — Mortality Tables, Life Expectancy & Premium PricingWhat actuaries do in a life insurer, how a mortality table is read and used to work out expected claims, why a level premium builds a reserve, what adverse selection is, and the role of the Appointed Actuary.
- 07Digital Life Insurance — Online Sales, Automated Tools & Instant IssueHow life insurance is bought and serviced online, what automated tools and rule-based underwriting do, and why the buyer's duties and protections, including disclosure, the 30-day free-look period and the complaint route, are the same as in any other channel.
- 08Indian Life Insurance — Recent Legal Changes, Government Schemes & Embedded CoverRecent changes that shape Indian life insurance: the 2025 amendments to the insurance laws and the 100% foreign investment limit, nil GST on individual life premiums, the PMJJBY government scheme, embedded cover sold with other products, and how to read market statistics.