ISR3702 Assignment 2 Semester 2 2024 | Due September 2024

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ISR3702 Assignment 2 Semester 2 2024 | Due September 2024. All questions answered.

Question 1
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.

Question 2 (24 marks)
In the State of the Nation Address, the President of South Africa informed the country that the National Health Insurance (NHI) programme will be implemented.
2.1 Explain the purpose of the NHI programme. (4)
2.2 Describe any two perils covered by NHI (4)
2.3 Describe two advantages of the programme. (6)
2.4 Describe two disadvantages of the programme. (6)
2.5 Explain what form of insurance the NHI programme will be. (4)