Topic: Common Insurance Terminologies
Instructional Objectives – At the end of the lesson, the students should be able to:
1 Explain the following concepts as used in insurance: (i) subject matter of insurance; (ii) subject matter of contract. (SSCE 2018 Q2a)
2 Explain the following terms as used in insurance business: (a) Surrender value (b) Days of grace (c) Ex-gratia payment (d) Endorsement (e) Disclosure. (SSCE 2016 Q3)
3 Explain What is a “discharge voucher”? (SSCE 2016 Q4a)
4 State three duties each of the following in insurance claims: (i) insured; (ii) underwriter. (SSCE 2016 Q4b)
Learn so well from SS1 Insurance 1st Term Online Classes.
5 List seven contents of a certificate of insurance. (SSCE 2015 Q6a)
6 State four characteristics of a cover note. (SSCE 2015 Q6b)