保险学15.pptVIP

endowment Low-cost endowment a combination of term assurance and savings. The savings portion assumes a growth rate that, if achieved, will reach the initial sum assured when the endowment period is over Low-start where premiums start at a low level but increase as time passes ( to compensate for the initial shortfall) Convertible allows the client, after a period of time, to change from an endowment policy to a whole life policy Minimum investment providing minimal ( unit-linked) life cover, these ten year endowment policies allow a choice of investment fund in which to invest. Matching life products with age groupings 18 to 25 25 to 40 40 to 60 Over 60 CASE Jim (24) and Rosie (22) live in rented accommodation near to Rosie’s mother. Jim, who is a bricklayer to trade, gets most of his work from local building contractors. He does not yet have enough work experience to register as self-employed with the tax authorities, so employment is often sporadic. Rosie has never been in full-time employment. The couple already have a two-year old daughter, Emma, and another child on the way. Jim would like to provide financial protection for his family but doesn’t know where to start. However, he freely admits that money is tight so premiums would have to be kept ‘fairly light’. Recently Jim’s aunt Jenny died, and he has been appointed in her will as her Executor. He has been examining her papers and has found a ‘Whole of Life Policy’. He knows that it has something to do with Life Assurance but does not understand the clauses in the contract. Now as an insurance consultant, Jim want to get some ideas from you about: (a) recommend a suitable life policy, given his family circumstances (b) explain the main features of the recommended policy and (c) state your reasons for the recommendation Parts of a life assurance contract 1.Proposal form Such a document is not necessary in law but, on the whole, it makes life a bit easier. The proposal is used for