Insurance & Risk Management - NMIMS

 

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 Insurance & Risk Management

1. Anil has recently started working with a renowned MNC after passing out of a premier B-School. A senior colleague has suggested him to start investing early, if he wants to build a large retirement corpus. He also suggested Anil to take adequate life insurance cover. Anil is however, unable to properly understand the utility of a life insurance cover. You are required to provide Anil with an understanding of the importance of Life Insurance cover, and the various types of Life Insurance Products that are available. (10 Marks)

SOLUTION:

Introduction:

Life insurance is a contract between an individual and an insurance company. Under this contract, the insurance company agrees to pay the beneficiaries a lumpsum amount known as the sum insured on the insured's death. This amount is paid in exchange for the premium amounts paid by the insurer.

 

 

per his requirements.

2. The global market for private health insurance is being disrupted at the same time growing rapidly. Keeping in view with the current scenario of health insurance in India. Discuss the future aspects of Health Insurance market in India. (10 Marks)

SOLUTION:

 

Introduction:

Health insurance is insurance for the health of the person. It typically covers the medical, surgical, and prescriptive drug expenses incurred by the individual. Health insurance is a benefit that needs to be availed of by all individuals. It is because the costs incurred can be reimbursed by the health insurance company. Most of the organizations have health insurance for their employees and the families of employees.

In India, the amount paid as

 

3.a. John is forty years old, and works in the Private Sector. He feels it is still too early to worry about old age, and does not have a systematic investment plan. His focus is very much on the quality of life at present. As his financial planner, discuss the types of risks he is likely to face post retirement. (5 Marks)

Introduction:

Retirement planning or saving or investing for retirement is still not adapted by many people. They keep saying that it is along the way to go for their retirement and delay the decision.

Having a retirement plan or fund should get started at the early stage of work life. The earlier it gets started, the less is the burden of the investment amount. By starting early, you can also retire early.

 

Concept:

Types of risk faced post-retirement if money is saved at early working age:

1. Loss of choice or options

If you don't plan your retirement early, then you won't be able to choose the way you want to live your life post-retirement. As your age, your demands increase, but you may not have many options to meet the needs as you

 

 

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