The objective of this unit is to develop in the candidate a detailed knowledge and understanding of the long-term insurance market.
Today’s long-term insurance market reflects the complexity of most people’s lives as a result of more choice, greater affluence and changed social attitudes.
In addition to traditional ‘life assurance’, which pays out the sum assured to the dependants when a policyholder unfortunately dies, a whole range of other long-term insurance products are now available and including critical illness insurance, income protection and long-term care insurance.
This study text provides knowledge and understanding of the long-term business market, contracts, risk assessment, claims administration, reassurance and consumer protection as well as taxation considerations.
This unit has now been withdrawn
Please note that unit P63 has now been withdrawn. Qualifications and credits achieved via P63 will be valid post unit withdrawal.