LOMA 280 – PRINCIPLES OF INSURANCE COURSE

LOMA 280 int roduces the principles of insurance, the process of becoming insured, and the policy owner’s contractual rights. The course includes information on the features of individual and group life insurance, health insurance, and annuity products.

Upon completion of the course, trainees will be expected to:
• Understand the Basic Principles of Insurance.
• Understand the Individual Life Insurance.
• Understand Individual Life Insurance Policy Provisions and Ownership Rights.
• Understand the Annuities Individual Retirement Arrangements, and Health Insurance.
• Outline Group Life Insurance and Group Retirement Plans.

• Introduction to Risk and Insurance
• The Life and Health Insurance Industry and Its Regulation
• Life Insurance Policies as Contracts
• Financial Design of Life Insurance Products
• Meeting Customer Needs
• Term Life Insurance
• Cash Value Life Insurance
• Supplemental Benets
• Individual Life Insurance Policy Provisions
• Life Insurance Policy Ownership Rights
• Annuities
• Principles of Group Insurance
• Group Life Insurance
• Group Retirement Plans
• Health Insurance Overview

The course is assessed via an online examination after course completion where trainees need to complete a set of questions. Trainees who score higher than 70 and above out of 100 will be awarded a certificate of completion from LOMA.

All employees who are working in the Insurance, Banking & other Financial Services.

30 Training Hours

Trainees should have:
• Basic understanding of Insurance principles.
• Good command of the English language.