ISR3702 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us..
ISR3702 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us..
ISR3702 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us..
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Life Insurance
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, ISR3702 Assignment 2 (COMPLETE ANSWERS) Semester
2 2024 - DUE September 2024 ; 100% TRUSTED Complete,
trusted solutions and explanations.
Question 1 (46 marks) Latu Life Insurance Company provides
financial services in the Republic of South Africa. In January
2024 the company received the following applications: 1.1
Indicate an appropriate life policy or policies for each
application and substantiate your answer. (22) 1.2 Classify each
of the applications into an underwriting class and substantiate
your answer. (22) 1.3 Name one variable that is missing from
the applications but that could be used to answer question 1.2
above. (2) No. Name Age Gender Occupation Medical condition
Net worth Number of dependants 1 Presh 24 Female
Construction worker Not stipulated (R560 000) 2 2 Premita 36
Male Lawyer Not stipulated (R330 000) 1 3 Kgabu 48 Male
Medical doctor Heart attack R1 million 0 4 Tshivhase 56 Male
Teacher Diabetes R203 000 0 5 Malerato 27 Female Judge
Epilepsy R402 000 3 6 Grace 33 Female Self-employed Not
stipulated R809 000 2 ISR3702 Page 2 of 2
Question 1 (46 marks)
1.1 Appropriate Life Policy for Each Application (22 marks)
No. 1: Presh, 24, Female, Construction worker
• Appropriate Policy: Term Life Insurance
• Substantiation: At 24, Presh is relatively young with a
low-risk occupation. A term life insurance policy would be
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