HISTORY OF LIFE INSURANCE - MyCEisOnline：人寿保险- myceisonline History of.doc

THE LIFE INSURANCE COURSE TABLE OF CONTENTS CHAPTER ONE - HISTORY ELEMENTS OF LIFE INSURANCE 1 WHY LIFE INSURANCE 3 LAW OF LARGE NUMBERS 5 DETERMINING PREMIUM FOR LIFE INSURANCE 6 PRICING 7 YEARLY RENEWABLE TERM RATE CALCULATION 8 RESERVE CALCULATION 11 FLEXIBLE PREMIUM PLANS 11 THE SAVINGS ELEMENT IN LIFE INSURANCE 12 POLICIES THAT PARTICIPATE IN COMPANY EXPERIENCE – OR NOT 13 NON-PARTICIPATING POLICIES 13 PARTICIPATING POLICIES 14 DIVIDEND PAYMENT OPTIONS 14 Cash Dividend 14 Premium Reduction 14 CURRENT ASSUMPTION POLICIES 15 Chapter 1 16 CHAPTER TWO - THE INSURANCE CONTRACT 19 CHARACTERISTICS OF LIFE INSURANCE CONTRACTS 20 ELEMENTS OF A CONTRACT 21 EFFECTIVE DATE 22 CONSIDERATION 23 CONTRACT FOR LEGAL PURPOSES 23 INSURABLE INTEREST 23 THE APPLICATION 24 CONCEALMENT, MISREPRESENTATION, FRAUD 24 PRESUMPTION OF DEATH 25 INCONTESTABLE CLAUSE 26 SUICIDE CLAUSE 26 GRACE PERIOD 27 DELAY PROVISION 27 EXCLUSIONS 28 AVIATION 28 WAR EXCLUSION 28 BENEFICIARY PROVISION 28 BENEFICIARY DESIGNATIONS 29 PRIMARY BENEFICIARY 29 CONTINGENT BENEFICIARY 29 REVOCABLE BENEFICIARY DESIGNATION 29 IRREVOCABLE BENEFICIARY DESIGNATION 29 NAMING THE BENEFICIARY 30 PER CAPITA 30 PER STIRPES 30 MINORS, TRUSTS AND ESTATES 31 Uniform Simultaneous Death Act 31 Common Disaster Provision 32 NONFORFEITURE PROVISION 32 NONFORFEITURE OPTIONS 33 CASH SURRENDER 33 PAID-UP INSURANCE 33 EXTENDED TERM INSURANCE 34 Chapter 2 34 CHAPTER THREE – THE INSURANCE CONTRACT II 38 SETTLEMENT OPTIONS 38 LUMP SUM 38 INTEREST ONLY 38 FIXED AMOUNT 39 FIXED PERIOD 39 LIFE INCOME 40 CASH/INSTALLMENT REFUND ANNUITY 40 LIFE INCOME OPTION WITH PERIOD CERTAIN 40 JOINT AND SURVIVORSHIP OPTION 41 OTHER OPTIONS 41 Educational Option 41 Flexible Spending Account 41 Individualized Options 41 ASSIGNMENTS 41 ABSOLUTE ASSIGNMENT 42 VIATICAL SETTLEMENTS 42 COLLATERAL ASSIGNMENT 43 POLICY LOANS 43 COLLATERAL 43 INTEREST 44 DIRECT RECOGNITION 44 INTEREST PAID ON BORROWED VALUES 45 LO