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Introduction to Life Insurance
Types of Life Insurance

These Study Notes have been prepared to correspond with the various Chapters in the Syllabus for the Long Term Insurance Examination. The Examination will be based upon these Notes. A few representative examination questions are included at the end of each Chapter to provide you with further guidance.

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Immediately following the descriptions of some aspects of the practice of long term insurance, you will find actual cases of long term insurance claims, which are there mainly to facilitate your understanding of the subject and to make your learning more interesting. The decisions you will find in those cases were based on their particular facts, including the 
actual wording used in the insurance policies in question. They being decided cases of the Insurance Claims Complaints Bureau (ICCB), it is worth noting that the Insurance Claims Complaints Panel of the ICCB is empowered by the Articles of Association of the ICCB to look beyond the strict interpretation of policy terms in making a ruling. In addition, as far as good insurance practice is concerned, the Insurance Claims Complaints Panel relies heavily on the expected standards set out in The Code of Conduct for Insurers, with particular reference to “Part III: Claims”. 
It should be noted, however, that these Study Notes will not make you a fully qualified underwriter or other insurance specialist. It is intended to give a preliminary introduction to the subject of Long Term Insurance, as a Quality Assurance exercise for Insurance Intermediaries. 
We hope that the Study Notes can serve as reliable reference materials for candidates preparing for the Examination. While every care has been taken in the preparation of the Study Notes, errors or omissions may still be inevitable. You may therefore wish to make reference to the relevant legislation or seek professional advice if necessary. As further editions will be published from time to time to update and improve the contents of these Study Notes, we would appreciate your feedback, which will be taken into consideration when we prepare the next edition of the Study Notes.