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Practice of Life Insurance-IC 02

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Practice of Life Insurance-IC 02

The Practice of Life Insurance-IC 02 module provide knowledge on the core principles, and operations of life insurance and is from the Insurance Institute of India . It covers types of life insurance policies, policy underwriting, claims settlement, regulatory frameworks, and customer servicing. It is the basis for knowing the life insurance business.

Certification in "Practice of Life Insurance-IC 02"  helps you prepare for the Practice of Life Insurance-IC 02 module test by assessing you in life insurance principles, practices, and regulations.

Why is Practice of Life Insurance-IC 02 certification important?

  • Demonstrates a solid understanding of life insurance principles and practices.
  • Boosts career opportunities in the insurance and financial services sectors.
  • Validates knowledge of underwriting, policy management, and claims handling.
  • Enhances customer servicing skills in life insurance.
  • Complies with industry regulatory and professional standards.
  • Builds credibility as a trained insurance professional.
  • Helps meet qualification criteria for advanced insurance roles.

Who should take the Practice of Life Insurance-IC 02 Exam?

  • Insurance Advisors
  • Life Insurance Agents
  • Underwriters
  • Claims Managers
  • Actuarial Analysts
  • Customer Service Representatives in Insurance
  • Insurance Trainers and Educators
  • Insurance Operations Managers

Practice of Life Insurance-IC 02 Certification Course Outline
The course outline for Practice of Life Insurance-IC 02 certification is as below -

 

  • Domain 1: Organisational Structure of a Life Insurance Company
  • Domain 2: Premiums and Bonuses
  • Domain 3: Plans of Life insurance
  • Domain 4: Annuities
  • Domain 5: Group Insurance
  • Domain 6: Unit- Linked Life Insurance Products
  • Domain 7: Applications and Acceptance
  • Domain 8: Policy Document
  • Domain 9: Payment Of Premium, Surrender, Lapsed Policy and Revival
  • Domain 10: Assignment, Nomination, Loan and Fore-closure under a policy
  • Domain 11: Policy Claims

    • Practice of Life Insurance-IC 02 FAQs

    You will be required to re-register and appear for the Practice of Life Insurance-IC 02 certification exam. There is no limit on exam retake.

    It opens opportunities for roles like insurance advisor, underwriter, and claims manager, and builds expertise in the field.

    There are usually no strict prerequisites, but a basic understanding of insurance concepts is helpful.

    Topics include life insurance products, underwriting, claims settlement, regulations, and customer servicing.

    Insurance advisors, underwriters, claims managers, and customer service representatives can benefit from this certification.

    It is a certification that validates knowledge and expertise in life insurance principles and practices.

    It enhances career prospects in the life insurance industry and builds professional credibility.