ISR3702 ASSIGNMENT 2 FOR 2ND SEM 2025 - DUE 15 SEPTEMBER 2025

IA




ISR3702 ASSIGNMENT 2
FOR SEMESTER 2 2025
DUE: 15 SEPTEMBER 2025




FEND TUTORIALS

, 1. Life Policies Covered by National Health Insurance (2 marks)

 NHI covers health services, not traditional life insurance policies.
 Life policies such as death cover, disability benefits, or funeral cover are
not included under NHI.


✅ Conclusion: NHI does not cover life insurance policies; it only funds essential
healthcare services for citizens and permanent residents.

2. Five Life Insurance Policy Clauses Not Applicable to NHI (10 marks)

1. Death Benefit Clause

 Life insurance pays a lump sum on the death of the insured.
 NHI does not offer any payout upon death.

2. Beneficiary Clause

 Life insurance requires naming a beneficiary to receive benefits.
 NHI does not involve beneficiaries, as no money is paid out to individuals.

3. Premium Payment Clause

 Life insurance requires monthly/annual premiums.
 NHI is tax-funded, and citizens do not pay premiums.

4. Grace Period Clause

 Life insurance policies allow a grace period for missed payments.
 NHI has no such clause, since there are no premiums or lapses.

5. Policy Surrender or Maturity Clause

 Life insurance can have cash value or mature after a term.
 NHI is not a savings/investment product, and has no maturity value.


1|Page