Module Code - Title:
IN4014
-
LIFE INSURANCE
Year Last Offered:
2025/6
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
IN4003
Rationale and Purpose of the Module:
The module provided the student with an understanding of the principles of life insurance and the history and importance of life insurance in both the Irish market and on a global level.
Syllabus:
The module includes an analysis of term insurance, whole of life insurance and endowment insurance. The health insurance market in Ireland is studied, as is the Irish social insurance system with specific focus on the retirement and pensions market. The module covers the nature and purpose of a variety of life insurance contracts and students gain knowledge of life insurance underwriting. With regard to life insurance underwriting, particular attention is paid to underwriting of a variety of diseases that affect human anatomy, theories of mortality and morbidity risk, formulation of mortality tables, and the calculation of premium for term, whole life, endowment and annuity.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On completion of this module, students should be able to:
* Discuss the various types of life insurance policies available on the Irish market and their popularity in the global marketplace.
*Identify several health based life insurance products.
*Evaluate the Irish medical expenses insurance market.
*Apply knowledge gained on the underwriting process to the calculation of premium for a wide variety of life insurance products.
*Critically discuss several topics of interest surrounding the current life insurance market such as the use of genetic testing, the impact of changing longevity and certain social trends on the life insurance market, investment and the life insurance industry.
* Analyse contemporary and seminal literature relative to the wider financial security industry
* Conceptualise, research and analyse a broad range of disciplines as part of in-term assignment.
Affective (Attitudes and Values)
*Consider the ethical dilemma of insurers right to know versus a clients right to privacy.
*Appreciate intercultural and socio-economic characteristics involved in the consumption of Life, Health and Pension products
Psychomotor (Physical Skills)
n/a
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module is taught as a series of two lectures and one tutorial per week. Reading material is provided for discussion during tutorials and students are encouraged to have read the material prior to each associated tutorial.
Students will be asked to collaborate with their classmates and articulate research findings in groups discussions.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Black and Skipper (2000)
Life and Health Insurance
,
Vaughan and Vaughan (2008)
Fundamentals of Risk and Insurance
,
Other Relevant Texts:
Programme(s) in which this Module is Offered:
BAIIESUFA - International Insurance and European Studies
BAINBUUFA - INTERNATIONAL BUSINESS
BBBUSTUFA - BUSINESS STUDIES
BBBSFRUFA - FRENCH
BBBSGEUFA - GERMAN
BBBSJAUFA - JAPANESE
Semester(s) Module is Offered:
Spring
Module Leader:
Eamon.Leonard@ul.ie