Policy
Akopọ
When a claim is disputed, nobody argues over what was said across the counter. Everyone turns to one document: the policy. It is the black and white record of the bargain, and knowing how to read it is the difference between a candidate who guesses and one who can point to the exact clause that settles the matter.
This lesson opens the policy up and shows you what each part is for. You will learn why lawyers call the policy evidence of the contract rather than the contract itself, you will meet its seven parts in the order they appear, from the heading down to the signature, and you will learn who the parties to a policy are and what each of them stands to gain or lose.
Awọn Afojusun
- Define an insurance policy and explain its status as evidence of the contract
- Identify the component parts of a policy: heading, recital, operative clause, exceptions, conditions and schedule
- State the purpose of each component part
- Identify the parties to a policy and explain the interest of each
Àwòrán ọpọlọ
A ti ṣe àwòrán kókó yìí kí o lè rí bí àwọn èrò ṣe so pọ̀.
Káàdì ìrántí
Ìdánrawò kíákíá lórí ohun tí wọ́n ń dán wò nínú kókó yìí.
Akọ̀wé Ẹ̀kọ́
Forúkọsílẹ̀ láti Tẹ̀síwájú
Ṣẹda àkọọlẹ ọfẹ kan láti wọlé sí gbogbo àwọn oríṣìíríṣìí ìkànsí ikẹ́kọ̀ọ́, àwọn ìbéèrè ìdánwò, àti láti tọpa ìlọsíwájú rẹ.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Policy. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- The part of an insurance policy that states the actual cover granted by the insurer is the: A. Heading B. Operative clause C. Schedule D. Attestation Answer: B
- Which part of a policy carries the sum insured, the premium and the period of cover for a particular customer? A. Recital B. Exceptions C. Schedule D. Conditions Answer: C
- An insurance policy is best described as: A. The contract itself B. Evidence of the contract C. An offer to contract D. A proposal for insurance Answer: B
- Which of the following is NOT a component part of an insurance policy? A. Recital B. Operative clause C. Proposal form D. Schedule Answer: C
- The two principal parties to an insurance policy are the: A. Insurer and the broker B. Insurer and the insured C. Insured and the beneficiary D. Broker and the third party Answer: B
Forúkọsílẹ̀ láti Tẹ̀síwájú
Ṣẹda àkọọlẹ ọfẹ kan láti wọlé sí gbogbo àwọn oríṣìíríṣìí ìkànsí ikẹ́kọ̀ọ́, àwọn ìbéèrè ìdánwò, àti láti tọpa ìlọsíwájú rẹ.
Forúkọsílẹ̀ láti Tẹ̀síwájú
Ṣẹda àkọọlẹ ọfẹ kan láti wọlé sí gbogbo àwọn oríṣìíríṣìí ìkànsí ikẹ́kọ̀ọ́, àwọn ìbéèrè ìdánwò, àti láti tọpa ìlọsíwájú rẹ.
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ibeere Atunyewo
Ṣe o n ronu ohun ti awọn ibeere atijọ fun koko-ọrọ yii dabi? Eyi ni nọmba awọn ibeere nipa Policy lati awọn ọdun ti o kọja.
Ibeere 1 Ìròyìn
List and explain three types of endowment policy.
Awọn alaye Idahun
Three types of endowment policy
- Pure (ordinary) endowment policy: Under this policy the sum assured is paid on the death of the life assured within the term or on his survival to the end of the fixed term, whichever comes first. It combines protection with saving and is the basic form of endowment.
- With-profit (participating) endowment policy: This is an endowment under which, in addition to the guaranteed sum assured, the policyholder shares in the profits of the insurer through bonuses added to the policy. It pays a larger amount at maturity but attracts a higher premium.
- Without-profit (non-participating) endowment policy: Under this policy only the fixed sum assured is payable at death or maturity, with no share in the insurer's profits. Its premiums are lower than those of the with-profit type.
Other recognised forms include the joint-life endowment, taken on two lives (for example husband and wife) with the sum payable on the first death or at maturity, and the double endowment, which pays twice the sum assured on survival to maturity but the single sum on earlier death.
Forúkọsílẹ̀ láti Tẹ̀síwájú
Ṣẹda àkọọlẹ ọfẹ kan láti wọlé sí gbogbo àwọn oríṣìíríṣìí ìkànsí ikẹ́kọ̀ọ́, àwọn ìbéèrè ìdánwò, àti láti tọpa ìlọsíwájú rẹ.