Exam (elaborations)
ISR3702 Assignment 2 Semester 2 2024
- Course
- Life Insurance (ISR3702)
- Institution
- University Of South Africa
QUESTIONS WITH ANSWERS ISR3702 Assignment 2 Semester 2 2024
[Show more]
Content preview
[Company name]ISR3702
Assignment 2
Semester 2 2024
QUESTIONS AND ANSWERS
, 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 answer this question, each application scenario would need to be provided to
determine the appropriate life policy. If you can share the specific details for each
application, I can help identify the suitable life insurance policies and explain why they
are appropriate for each case.
In general, the following are some common life insurance policies:
1. Term Life Insurance: Provides coverage for a specified term (e.g., 10, 20, or 30
years) and pays a death benefit only if the insured dies during the term. It's
suitable for individuals who want to provide financial protection for their families
for a specific period.
2. Whole Life Insurance: Offers lifelong coverage and includes a cash value
component that grows over time. It's appropriate for those who want permanent
coverage with a savings element.
3. Endowment Policy: Pays out a lump sum after a specific term or upon death. It's
suitable for individuals who want to save towards a particular financial goal while
also having life insurance coverage.
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller omoka11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R46,60. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now