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Unlocking the World of Insurance: A Comprehensive Guide 

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What I will learn?

  • You will grasp the basic meaning, types and benefits of insurance. You will learn about the foundational principles that govern insurance contracts, such as utmost good faith, insurable interest, proximate cause, and indemnity. You will also understand the meaning of life insurance and its benefits. You will learn that life insurance is not a contract of indemnity. You will become aware of dangers of life insurance without insurable interest. You will be equipped with the knowledge to make informed decisions about insurance coverage, considering your personal and financial circumstances.

Course Curriculum

Introduction

  • Introduction
    30:54

Understanding Insurance: Meaning and Principles
The students will understand the meaning of insurance. They will learn about the principles that govern insurance.

The Two Pillars of Insurance: Utmost Good Faith and Insurable Interest
The students will understand that all parties involved in an insurance contract must act honestly and disclose all material facts. They will recognize the consequences of non-disclosure and misrepresentation in insurance contracts. They will also learn about a requirement that a person must have a financial stake in the property or life being insured to avoid moral hazard.

Insurance Compensation: Principles of Indemnity and Proximate Cause
This course will cover the principle of indemnity and proximate cause in insurance. Students will understand that the insurer will pay the insured the actual loss suffered, up to the policy limit. They will understand how to determine the proximate cause of a loss and its impact on insurance claims.

Insurance Recovery and Mitigation: Principles of Contribution, Subrogation, and Loss Minimization
The students will learn about proportional claim payments in case of multiple policies covering same subject matter, insurer recovery rights, and the insured’s duty to prevent losses.

Insurance: Exploring Benefits and Types
The students will learn what are the various benefits of insurance. They will also gain knowledge about the various types of insurances available in the market.

Importance of Life Insurance and Consequences of Ignoring Insurable Interest
The students will have a thorough understanding of importance of life insurance, including its importance, the benefits it offers, the critical role of insurable interest.

Life Insurance: Key elements and Assurance vs. Indemnity
The students will learn about key components of life insurance and why life insurance is considered a contract of assurance rather than indemnity.

Life Insurance: Key factors and Types
The students will understand factors to consider when choosing a life insurance policy. They will also gain knowledge of various life insurance policies.

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₹4,299.00 ₹4,599.00
  • Level
    Intermediate
  • Duration
    6 hours 36 minutes
  • Last Updated
    October 7, 2024

Material Includes

  • A comprehensive series of engaging video lectures (approx. 7 hours), divided into engaging and informative modules, covering meaning of insurance, principles that govern insurance, benefits of insurance, types of insurance, meaning and importance of life insurance, dangers of life insurance without insurable interest, essential elements of life insurance, types of life insurance, life insurance not a contract of indemnity etc.

Requirements

  • Watch all video lectures to gain a thorough understanding of insurance concepts, principles and practices. Try to apply the knowledge you gain from the course to real-world situations. This will help you solidify your understanding and see how insurance principles work in practice.

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Target Audience

  • Individuals interested in learning about insurance, Potential insurance buyers, Students, Business owners and entrepreneurs who want to understand the role of insurance in their business operations.
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