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Marketing of Financial Services
September 2021 Examination
1. Develop a Public Relations campaign for IRDA to help create awareness about Life Insurance sector and to educate policy holders about their rights. (10Marks)
Ans 1.
Introduction:
A contract between an insurer and a policyholder is known as a life insurance policy. In exchange for the premiums paid by the policyholder throughout their lifetime, a life insurance policy guarantees that the insurer will pay a certain sum of money to the policyholder’s designated beneficiaries when the policyholder dies. A contract for life insurance is a legally enforceable agreement. To ensure
2. Sanjay Bhat, (age 34 years) works with a pharmaceutical company and has not yet started to invest for his retirement. Sanjay is married to Pooja (age 30 years) and they have one son aged 2 years. Sanjay wants you to prepare a plan for him to retire latest by age 60. (You can make any assumptions to further build up your case.) (10 Marks)
Ans 2.
Introduction:
An annuity is a type of financial investment that pays out regularly for a certain amount of time. Depending on the options selected by the investor, an allowance will generate either fixed or variable returns. If you purchase an annuity, the insurance agent receives a flat sum of money and spends it, less any premiums levied. If the lender agrees to this, the lender may receive a specific quantity of money at regular intervals for a specified period. In annuity contracts, the terms “present value” and “future value” are frequently used to describe the worth of the
3. You are a Financial Planner. Your client Sumit Raghani aged 35 years and works with an IT company earning Rs 15 lakhs per year. His wife Priti, aged 32 years, is a homemaker. They have one daughter Rimmi aged 5 years. The couple requires your help to make some financial decisions. (You can make any assumptions to further build up your case.)
a. Sumit wants to buy a Pure Risk Life Insurance cover of Rs 1.5 crore. He is confused about whether he should buy a ULIP or a Term Plan. Recommend the product best suited for his requirement. (5Marks)
Ans 3a.
Introduction:
Pure risk is a type of risk that cannot be controlled and has only two conceivable outcomes: a total loss or no loss at all. If there is no possibility for profit or profit, there is no profit in a risky situation. Natural disasters, explosions, and deaths are all instances of cases in which there is a high level of risk to everyone’s life. These incidents are wholly unanticipated and have no
b. Sumit and Priti want your help to invest for Rimmi’s higher education which they estimate would be required after 15 years. (5 Marks)
Ans 3b.
Introduction:
People must act quickly and stop procrastinating if they wish to save for their children’s education. This is a significant increase over the general rate of inflation in the education sector. As a result, it is vital to make investments in real estate that will generate inflationary returns. Creates an estimate of the inflation-adjusted cost of your child’s lifetime well in advance of the
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