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Insurance & Risk Management
Jun 2025 Examination
PLEASE NOTE: This assignment is application based, you have to apply what you have learnt in this subject into real life scenario. You will find most of the information through internet search and the remaining from your common sense. None of the answers appear directly in the textbook chapters but are based on the content in the chapter
Q1. Mr. Rajiv, a married man with two children, recently underwent surgery, prompting him to reflect on his family’s financial security in his absence. Concerned about his dependents’ future, he decided to consult his friend, an insurance advisor, to gain insights into life insurance policies and their associated benefits. Explain to Mr. Rajiv the concept of life insurance, its significance, and the need for securing his family’s financial well-being. (10 Marks)
Q2. Ravi, a 35-year-old marketing professional with a demanding job that involves frequent travel, has never prioritized health insurance. However, when his close friend was hospitalized due to a sudden medical emergency, Ravi witnessed firsthand the financial burden of high hospital bills. This experience made him question his own financial preparedness for unexpected medical expense. As a financial consultant, evaluate Ravi’s current situation and assess the significance of having a health insurance policy and Assess the key benefits of health insurance, such as hospitalization coverage, cashless treatment, tax advantages, and protection against rising medical costs. (10 Marks)
Q3. Amit works at a private investment firm. Unlike his parents, who were employed in government jobs with secure retirement benefits, Amit does not have the same financial safety net. As he approaches mid-career, he becomes increasingly concerned about his financial security post-retirement. Without a structured pension plan, he worries about managing his expenses, healthcare, and maintaining his lifestyle in his later years.
- As a financial advisor, identify and explain the key risks Amit should consider while planning for his retirement. (5 Marks)
- With respect to the above scenario Outline the step-by-step process involved in creating a comprehensive retirement plan to ensure financial stability in his post- retirement years. (5 Marks)
Dear Students,
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