Modh 1: Bunait Teirigeach Beatha

### Module 1: Foundations of Life Insurance

• Single Premium Policy: A policy requiring only one premium payment.
• Policy Fee: A fixed amount added to a premium, regardless of the policy size.
• Premium Calculation: Agents need applicant's age, chosen plan, and desired face amount to calculate premiums.
• Premium Payment Methods: Annual premiums are divided by the desired number of payments, or multiplied by a conversion factor for the intended payment method.
• Insured, Insurer, Beneficiary: In a life insurance contract, a father entering a contract on behalf of a child is the insured or applicant-owner. The company is the insurer. The child is the beneficiary.

Module 2: Basic Plans

• Convertible Term Insurance: Allows changing to a permanent policy without evidence of insurability.
• Dividends: Dividends paid in previous years are not guaranteed and their relation to the policy cost needs to be disclosed.

Module 3: Riders

• Waiver of Premium Rider: Stops premium payments when the policyholder becomes disabled.
• Accidental Death and Dismemberment Rider: Associated with death or disability in an accident.
• Disability Benefits: Not paid for self-inflicted injuries or if disability results from sickness.

Module 4: Risk Selection

• Rated Policies: Policies with higher premiums due to increased risk.
• Risk Factors of Premium: Age, occupation, and income influence insurance premiums.
• Anti-Selection: Occurs when the insurance company accepts a disproportionately large number of high-risk applicants.

Module 5: Policy Provisions

• Legal Contract: For a contract to be valid, parties must be legally competent.
• Insurable Interest: For life insurance coverage, insurable interest between the insured and policyholder must exist throughout the policy's entire life.
• Insurance Obligations: The insurance company is bound by the terms of the policy when a premium is paid and the insured meets the required criteria.

Module 6: Group Insurance

• Employee Enrollment: Employees fill out an enrollment card for group insurance.
• Policy Changes: Group policy changes can transition to individual policies.

Module 7: Health Insurance

• Health Insurance Coverage: Covers accidental death and dismemberment, expense reimbursements, and disability income benefits.
• Disability Benefits: Not typically paid for self-inflicted injuries, policy loans, or if the disability arises from sickness.

Module 8: Annuities

• Annuities: A plan offering life income via a series of regular payments made by the insurance company.
• Purchase of An Annuity: The person who purchases the annuity is called the owner.

Module 9: IC Rules and Ethics

• Insurance Income Sources: Life insurance companies primarily earn revenue through premium income and investments.
• Stock vs. Mutual Companies: Stock companies are owned by shareholders; mutual companies are owned by the policyholders.
• Ethical Advertising and Agent Disclosure: Advertisers are restricted from revealing their company whilst advertising.