ISR3702 Assignment 2
Semester 2 2024
[Company address]
, ISR3702 Assignment 2 Semester 2 2024
Question 1 (46 marks)
Latu Life Insurance Company provides financial services in the Republic of South Africa.
In January 2024 the company received the following applications:
1.1 Indicate an appropriate life policy or policies for each application and substantiate
your answer. (22)
1.2 Classify each of the applications into an underwriting class and substantiate your
answer. (22)
1.3 Name one variable that is missing from the applications but that could be used to
answer question 1.2 above. (2)
1.1 Indicate an appropriate life policy or policies for each application and
substantiate your answer. (22 marks)
For each application, the choice of a life insurance policy depends on the applicant's
financial goals, personal situation, and risk factors. Below are the types of life insurance
policies commonly available and the rationale for choosing each:
1. Term Life Insurance:
o Description: Provides coverage for a specified period (e.g., 10, 20, or 30
years). The death benefit is paid out only if the insured dies within the
term.
Semester 2 2024
[Company address]
, ISR3702 Assignment 2 Semester 2 2024
Question 1 (46 marks)
Latu Life Insurance Company provides financial services in the Republic of South Africa.
In January 2024 the company received the following applications:
1.1 Indicate an appropriate life policy or policies for each application and substantiate
your answer. (22)
1.2 Classify each of the applications into an underwriting class and substantiate your
answer. (22)
1.3 Name one variable that is missing from the applications but that could be used to
answer question 1.2 above. (2)
1.1 Indicate an appropriate life policy or policies for each application and
substantiate your answer. (22 marks)
For each application, the choice of a life insurance policy depends on the applicant's
financial goals, personal situation, and risk factors. Below are the types of life insurance
policies commonly available and the rationale for choosing each:
1. Term Life Insurance:
o Description: Provides coverage for a specified period (e.g., 10, 20, or 30
years). The death benefit is paid out only if the insured dies within the
term.
