4

(Insurance Underwriting)

) 4.7 ) 4.1 )

4.2

) ,

4.3

) (HLV) 4.3 ) (Liens) 4.8 )

4.4 4.5

) 4.6 ) /

4.1

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4.1

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4.2

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2) (Income replacement method)

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35 .4,00,000 . , (), 4 . , .25,000 ( .3,00,000).

5% (.3,00,000) 5% .

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5%

. 3,00,000

35 25

. 1,43,18,129

( ) 8%

. 20,90,703

60 , . 1.43 . , , .

.1.43 . , 8% ( ), . 1.43 . 20,90,703 ( . 20.90 ).

, . 20.90 , 25 8% , . 1.43 .

, . 20.90 () . 20.90 .

2)

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. 25,000

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8% 3,00,000/8%

= 3,00,000/0.08 = 37,50,000

(-)

. 37,50,000

8% .37,50,000 , 37,50,000 * 0.08 = . 3 .

, 8% . 3 . , . 4,00,000 . 8% , .

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(Analysis)

1 : , 85% .

2 : , 90% .

3 : , 95% .

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4.3

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) (Pricing and calculating premium)

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1)

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(Mortality rates)

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(Loading)

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: (Flexible premium plan)

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4.3

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2)

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4.4

= *

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, 25 , . . 5,00,000.

, 36 . . . 8,00,000 .

, 48 . .40,00,000 .

, .

1: = 25 . = .5,00,000. = 0.0001

= . 50.

2: = 36 . = . 8,00,000. = 0.00081

= . 648.

3: = 48 . = . 40,00,000. = 0.00091

= . 3,640.

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2)

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4.1

1 .

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4.5

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2) (Add loadings)

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5% . . 25,000 . ,

25,000/12 1.05 = . 2,187.50

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4.4

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; .

)

. . .

(Simple revisionary bonus) (compound revisionary bonus) (Terminal bonus) .(Interim bonus)

1)

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. 1,000 5% , .50 . , .1,00,000 , .5,000 . , , .

2)

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.5,00,000 .

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5% . .5,00,000 , .25,000 . :

= .5,00,000 + .25,000 = .5,25,000.

= .5,00,000 + .25,000 = .5,25,000.

, 3% . :

= .5,25,000 + .15,000 = .5,40,000. (.15,000 .5,00,000 3%)

= .5,25,000 + .15,750 = .5,40,750. (.15,750 .5,25,000 3%)

: , .5,00,000 .

, .5,00,000 .5,00,000 . , .

3)

, - . - , 20, 25 30 , ,

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4)

(Valuation) . , (surplus) , . . , . ' ' , . 1938 112 .

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) / (Agents role in Underwriting)

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4.5

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4.1

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4.2 .

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4.3 , . , , . , , .

4.4 , .

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4.5 , . .

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1. ' ' ? 2. ' '

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1. , , , . 1938 112 .

2. , . , . .