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ISR3702 Assignment 2 Semester 2 2024
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ISR3702 Assignment 2 Semester 2 2024 COMPLETE ANSWERS
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ISR3702 Assignment2 Semester 2 2024
[Company address]
, ISR3702 Assignment 2 Semester 2 2024
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)
To assist you with this question, I would need to know more details about the specific
life insurance applications mentioned in January 2024. Without that, I can provide an
overview of common life insurance policies and when they are typically applicable. You
can then match the appropriate policy with the application based on the applicant's
needs.
Here are common types of life insurance policies:
1. Term Life Insurance
o Appropriate for: Individuals looking for affordable coverage over a
specific period (e.g., 10, 20, 30 years).
o Purpose: This policy provides coverage for a set number of years and
pays out a death benefit if the insured dies within the term. Ideal for young
families or individuals with temporary financial obligations like mortgage
payments.
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