Finance and Treasury

Life Assurance Products and Policy Administration

Life business is a promise held for decades, administered by systems and people who will change many times before it is honoured, which makes record integrity as important as pricing. This course covers the product and the administration together. Delegates work through the main contract types, term assurance, whole life, endowment and investment linked, and what each promises the policyholder. Premium structure, charges and the way a policy accumulates value follow. Underwriting at proposal stage is covered, including medical evidence, non disclosure and the consequences at claim. Policy servicing is addressed: alterations, paid up status, surrender, loans and reinstatement. Lapse behaviour and its financial effect are covered. Claims handling for death, disability and maturity follows, including the documentation required and the delays that damage reputation. Unclaimed benefits and tracing beneficiaries are addressed. The course closes on data quality, on regulatory conduct expectations and on communicating clearly with policyholders.