Exam (elaborations)
ISR3702 Assignment 2 Semester 1 2024 (675553) - DUE 24 April 2024
- Course
- Institution
ISR3702 Assignment 2 Semester 1 2024 (675553) - DUE 24 April 2024 QUESTIONS AND ANSWERS
[Show more]
Seller
Follow
pablitoh11
Reviews received
Content preview
+254792947610ISR3702
Assignment 2
Semester 1
2024 (675553)
- DUE 24 April
2024
QUESTIONS WITH WELL OUTLINED ANSWERS
Musyokah11@gmail.com
[Date]
, ISR3702 Assignment 2 Semester 1 2024 (675553) - DUE 24
April 2024
Question 1 (50 marks)
Bantu Life Insurance Company received the following life insurance proposal from
Chief Mlaudzi, who indicated that, because he lacked the necessary knowledge about
life policies, the underwriter should select an appropriate policy for each person:
1.1 Indicate an appropriate life policy or policies for each person and substantiate your
answer. (24)
1.2 Classify each person into an underwriting class and substantiate your answer. (24)
1.3 Name one factor that is missing from the proposal but that could be used to
answer question 1.2 above. (2)
No. Name Age Gender Occupation Income Proposed sum assured Relationship to
Chief Mlaudzi 1 Florence 38 Female Community projects R0 R100 000 Spouse 2
Vimla 39 Female Community projects R0 R100 000 Spouse 3 Zimkane 28 Male
University student R0 R50 000 Child 4 Xoliswa 6 Female Still in school R0 R50 000
Child 5 Kgadu 13 Male Still in school R0 R50 000 Child 6 Vhonani 15 Male Still in
school R0 R60 000 Child
Bantu Life Insurance Recommendations (50 marks)
1.1 Appropriate Life Policy/Policies (24 marks)
Here are recommendations for appropriate life policies for each person, along with
justifications:
• Florence (38, Female, Spouse, R100,000):
o Term Life Insurance: This policy provides a death benefit to the
beneficiary (Chief Mlaudzi) in case of Florence's death during the policy
term. It's suitable because it offers a high death benefit at a relatively low
premium due to her younger age.
For exam pack with questions and answers, quality notes, assignments and
exam help:
email: musyokah11@gmail.com
WhatsApp: +254792947610
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller pablitoh11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.76. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52355 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now