AHSEC 1st Year Syllabus 2024-25 Insurance

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SYLLABUS FOR HIGHER SECONDARY FIRST YEARCOURSE
Introduction :
The increasing complexity of business organisation and the risk involved in the present day world
makes it obligatory for students choosing commerce as a career to be conversant with the principles and
practice of insurance. A study of these principles and practice will make the students aware of the function
of insurance in general and the purpose of its business in particular.
The present syllabus of insurance paper for Higher Secondary First Year and Second Year class is
framed in such a way that it covers the entire course of study within the prescribed time limit of the council.
The topics included in the course of study are expected to be helpful to the student who wish to pursue
higher studies in the subject and also provide opportunity to those who wish to choose careers in insur-
ance.
As such the major objectives of teaching insurance at Higher Secondary stage are as follows:
1. To acquire knowledge and understand various definitions, concepts, terms and insurance
principles.
2. To acquaint the students with practice and procedure of insurance business.
3. To create an awareness of the necessity of insurance in business as well as in the society.
4. To give fundamental knowledge regarding organisation and operation of insurance business.
5. To understand the importance of insurance and its scope in modem business.'

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SYLLABUS FOR HIGHER SECONDARY FIRST YEAR COURSE
One Paper Time : Three hours Marks : 100

Unitwise Distribution of Marks & Periods :

Unit Topics Marks Periods
FUNDAMENITALS
Unit-1 Concept of Risk and its Handling 05 10
Unit-2 Insurance and its Acts 10 20
Unit-3 Principles of Insurance and its Importance 10 20
LIFE INSURANCE
Unit-4 Life Insurance Act of 1956 and History 10 11
of Insurance Business in India
Unit-5 Definition, Importance, Fundamental 10 20
Principles and Policies
Unit-6 Procedure for effecting life insurance 15 30
and Insurance agent
Unit-7 Categories of Lives, Conditions and Claim 10 18
Unit-8 Application of Probability concept 10 18
Unit-9 Life fund and surplus 10 18
Unit-10 Annuity 10 15
Total : 100 180

Unitwise Distribution of Course contents:
FUNDAMENTALS
Unit-1 : Concept of Risk and its handling : Marks : 05
Risk : Definition, Type, Methods of handling Risks
Unit-2 : Insurance and its Acts : Marks : 10
Insurance Act of 1938- insurance regulatory and Development Authority Act 1999- IRDA (licensing
of insurance agent) Regulation 2000. Definition, Need, Functions. Insurance organizations and their
classification, Definition of terms used in insurance business.
Unit-3 : Principles of Insurance and its Importance : Marks : 10
Principles of Insurance - Utmost good faith, insurable interest, indemnity; Caupra maxima,
Subrogation and contribution, Double insurance and Re-insurance. Wager- distinction between
insurance and wager (gambling). Importance of insurance to individual, business and society.
LIFE INSURANCE

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Unit-4 : Life insurance Act of 1956 and History of Insurance Business in India. Marks : 10

Unit-5 : Definition, Importance, Fundamental Principles and Policies : Marks : 10
 Definition, importance, fundamental principle of Life Insurance Contract
 Distinction between Life Insurance and other forms of Insurance .
 Different policies issued by Life insurance companies
 Surrender value, Accident benefit, Policy loan.
Unit-6 : Procedure for effecting Life Insurance and role of Life Insurance Agent : Marks : 15
Procedure of effecting a policy- Insurance agent-appointment, role, functions, and code of conduct,
Proposal form, information contain therein, Agents report, and other additional information required,
Unit-7 : Categories of lives, conditions and claim : Marks : 10
Categories of Lives - standard, sub-standard, uninsurable lives, assignment, nomination, various
clauses of life insurance, Polity, Claims: Maturity and Death. Procedure of settlement of claim and
group insurance,
Unit-8 : Application of Probability concept : Marks : 10
Theory of probability as applied to life insurance, Mortality tables; methods of calculation of premium-
concession allowed on large sun assured and on mode of payment
Unit-9 : Life Fund and Surplus : Marks : 10
Life insurance fund - its creation, calculation and valuation. Investment policy of life fund.
Surplus- and its ascertainment and distribution
Bonus- Types and distribution
Unit-10 : Annuity : Marks : 10
Meaning, Types and distribution between life insurance and annuity.

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