BIA Diploma in Life Insurance study plan

Define the core mechanics of life insurance (risk pooling, mortality risk, insurable interest) in your own written words without notes

Distinguish life insurance from general insurance and from savings products by listing at least six differentiating features

Explain the roles of insurer, policyholder, life assured, beneficiary and intermediary in a single worked scenario

Build a one-page glossary of 25 foundational terms with correct definitions

Trace the life insurance sales and application workflow from first contact to policy issue

Compare the main distribution channels and state one regulatory or ethical risk specific to each

Summarise the purpose and typical contents of a financial needs analysis

Solve five practice calculations involving sum assured, premium and coverage adequacy

Classify the major product families (term, whole life, endowment, universal/variable, annuities) by duration, cash value and investment risk

Map each product family to at least two suitable client profiles and justify the match

Explain how riders modify a base policy and list four common rider types with their purpose

Interpret the standard policy provisions: grace period, reinstatement, incontestability, non-forfeiture and surrender

Explain the roles of dividends, bonuses and non-guaranteed elements in participating and non-participating products

Describe how premiums are constructed from mortality, interest and expense assumptions

List the main underwriting information sources and state what each reveals about risk

Identify the classes of risk that lead to standard, substandard, postponed or declined decisions

Apply the underwriting process to three written case profiles and recommend a decision with reasons

Explain the actuarial concepts of mortality tables, life expectancy and reserves at a conceptual level

Distinguish claims by type (death, maturity, surrender, disability, critical illness) and list the evidence each requires

Identify fraud indicators and describe the insurer's duty to investigate fairly

Outline the legal foundations of an insurance contract: offer, acceptance, consideration, legal capacity and insurable interest

Explain the duties of utmost good faith, disclosure and the consequences of misrepresentation and non-disclosure

Summarise the key regulatory requirements governing licensing, conduct, product disclosure and complaints handling

Apply a four-step ethical decision framework to two written dilemmas and defend each outcome

Complete a timed 60-question mixed mock exam under exam conditions

Score the mock by domain and rank your three weakest areas with evidence

Re-study each weak area and write corrected notes for every missed question

Practise 20 short-answer responses against model answer structures

Re-test the three weakest areas with 30 targeted questions and confirm improvement

Recite the 30 most examinable facts from memory in a single written recall session

Complete a second full timed mock and compare results with week 7

Consolidate one final one-page summary sheet per domain for last-minute review