Introduction to the Course

 This course intends to provide a basic understanding of the insurance mechanism. It explains the concept of insurance and how it is used to cover risk. How insurance is transacted as a business and how the insurance market operates is also explained. The relationship between insurers and their customers and the importance of insurance contracts are discussed. Some commonly used insurance terms are also listed out. The course broadly deals with: Introduction to insurance, Life & Non-life Insurance, Term Insurance and Permanent Life Insurance, Supplementary Benefits, Life Insurance Policy Provisions, Group Insurance, IRDA Guidelines, Management of insurance.

Course Objectives

1. To enable the student to understand life & non- life insurance and its concepts.
   
2. To gain understanding about Insurance products, Premium calculations policies and  regulatory framework
3. To help the student get an understanding of the regulations and management of the insurance products.