Module Description Form

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COLLEGE OF BUSINESS AND ECONOMICS – UNIVERSITY OF
RWANDA
DEPARTMENT OF BANKING AND INSURANCE- SCHOOL OF
BUSINESS
INS 4232 LIFE ASSURANCE AND PENSION BUSINESS
Module Description
1. Module Code: INS 4234
2. Module Title: - Life Assurance and Pension Business
3. a. Year : 4 b. Semester: 2
4. Credits: 20
5. First year of presentation: 2016/ 2017
6. Administering School: Business
7. Administering Department: Banking and Insurance
8. Pre-requisite or co-requisite modules, excluded combinations:
INS 2135 Principles and Practice of Insurance
9. Allocation of study and teaching hours
Total student hours 200
Student Hours Staff hors
Lectures
75 70
Seminars/workshops
20 20
Practical classes/laboratory
--
Structured exercises
20
Guest Speakers 6
Set reading etc.
44
Self-directed study
10
Assignments – preparation and writing
10
Examination – revision and attendance
20
Other: Marking, monitoring and
evaluation
-

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Total
200 90
10. BRIEF DESCRIPTION OF AIMS
The objective of this module is to develop in the students:
 A knowledge and understanding of the principles and procedures applicable to
life and pension business;
 A knowledge and understanding of life assurance products and their features;
 A knowledge of the factors of the factors affecting the acceptance and
underwriting of life assurance business;
 Aknowledge of the factors affecting the administration of life assurance and
pension business, and the claims environment.
11. Learning out comes
11.1 Knowledge and understanding
Having successfully completed this module, students should be able to demonstrate
knowledge and understanding of:
i. The role of life insurance
ii. Legal principles of life assurance
iii. Life assurance products
iv. Uses of life assurance products
11.2 Cognitive/intellectual skills/ICT/Application of knowledge
At the end of this module students should be able to:
v. Recognize role of life assurance to the individual community, and the nation;
vi. Illustrate the sales cycle.
vii. State the legal principles that govern life assurance policies;
viii. Identify characteristics and scope of the main classes of life assurance;
ix. Explain the meaning and scope of superannuation business;
x. of underwriting retirement products, including annuities;
xi. Describe the general features of procedures for payment of premiums;
xii. Explain the principles of assignments.
xiii. Describe the procedures and documents used in the payment of life claims and
surrenders.
11.3 Communication/ICT/ Analytic Techniques/Practical Skills

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Having successfully completed the module, students should be able to:
xiv. Differentiate between the covers provided by life insurers
xv. Classifying life assurance needs;
xvi. Calculate tax relief
11.4 General Transferrable skills
Having successfully completed the module, students should be able to:
xvii. Advice prospective insured’s on the most suitable policies for them
xviii. Underwrite life business
xix. Process renewal documents
xx. Process life and pension claims
12. Indicative content:
a. The role of life assurance to the individual community, and the nation;
b. Classifying life assurance needs;
c. The importance of the sales cycle.
d. Legal principles that govern life assurance policies;
e. Characteristics and scope of the main classes of life assurance;
f. The applications of the main classes of life assurance
g. Usage and contents of proposal forms, acceptance letters and policy
documents;
h. Basic principles of underwriting individual life assurance business;
i. The factors affecting the calculation of premiums;
j. General features of procedures for payment of premiums;
k. Principles of assignments.
l. The reasons for amending or converting life policies and explain the
procedures used;
m. Procedures and documents used in the payment of life claims and
surrenders.
n. The meaning and scope of superannuation business;
o. Usage and contents of the various documents relating to superannuation
business;
p. The requirements for group premium quotation;
q. Renewal procedure;
r. General procedures for payment of premiums and claims;
s. Procedures and documentation commonly used in the payment of benefits.
t. Policy provisions and policy conditions;
u. Provisions and conditions that apply to life insurance policies;
v. Effects of tax on buying decisions;
w. Reassurance
x. Tax relief available on:
i. Life insurance premiums,

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ii. Contributions to retirement benefit schemes,
iii. Annuity premiums.
y. Statutory schemes;
z. Benefits provided under statutory schemes;
aa. Legislation governing statutory schemes.
13. LEARNING AND TEACHING STRATEGY
 Lectures
 Self –directed study
 Presentations
 Exercises
 Supervised exercises
 Expert speakers
 Industry visits
 Lecturers attendance
 Prescribed teaching
 Revision and examination
 Group discussions
14. Assessment strategy
The Assessment can take many forms such as group discussions, Assignments, Quizzes,
objective questions, Continuous Assessment Tests, Practical Exercises, Presentations, to
name a few. The Assessment differs from Module to module and is dependent on the
module and its learning outcomes. The Module team headed by the Module Leader, come
together and prepare a Module Handbook detailing the module, its learning outcomes,
indicative content, the type of Assessments and its weightage, before the start of the
module.
15. Assessment pattern
Component Weighting
(%)
Learning objectives covered

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In-Course Assessment: 50%  Refer the Learning outcomes
from number 1 to 7
Final Assessment:
Final exam
(Structured exercises,
problem solving, business
case examples etc., as per
programme sheet available
from module team.)
50%
 Refer the Learning outcomes
from the number 8 to 20
16 Strategy for feedback and student support during module
Feedback on Quiz papers, assignments, case study analysis will be given.
The teaching team will be available to students for consultation. Office hours for
students’ consultations will appear on the door to each office of the teaching team
members.
17. INDICATIVE RESOURCES
a. Core Text
Anthony Steuer (2010), Questions and Answers on Life Insurance: The Life Insurance
Toolbook, Life Insurance Sage Press, ISBN-10: 0984508104;
b. Background Texts
Robert I.Mehr (1987), Life Insurance: Theory and Practice 4th Edition, ISBN-13: 978-
025603707
c. Journals

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 LIFE INSURANCE JOURNAL IN INDIA-LIFE INSURANCE TODAY, MONTHLY JOURNAL
ON LIFE INSURANCE: JUNE 2011
 Associate of the chartered insurance institute (ACII-UK), Monthly insurance
journals
 The journal of the Insurance institute of India
 Insurance journal
 Chartered Insurance Institute of Nigeria journals
18. Teaching team
 Module leader : HAVUGIMANA Dieudonne
 Module Team: Visiting Lecturer