IAI SA4 study guide
IAI SA4 · Work through your exam, one topic at a time.
IAI SA4 is one of the Specialist Advanced (SA) subjects in the actuarial examination system administered by the Institute of Actuaries of India (IAI), a statutory body established under The Actuaries Act 2006 (35 of 2006). SA4 is the specialist subject covering general insurance, life insurance, health and care insurance, and pensions and other benefits, each contributing an equal share of the syllabus. It is intended for candidates who have completed the earlier Core Technical, Core Applications, and Specialist Technical stages and now wish to demonstrate advanced, practice-oriented expertise in insurance and benefits. The exam tests the ability to apply actuarial principles to real-world problems: product design, pricing, reserving, capital management, risk mitigation, regulation, and professional judgement. The IAI SA4 study guide has 4 sections and about 1,365 words.
01General Insurance
SA4 General Insurance tests how you apply reserving, pricing, capital and reinsurance techniques to Indian non-life portfolios, and how IRDAI rules constrain those choices. Numerical reserving questions are common, often followed by a judgement on solvency or reinsurance structure.
342 words, about 2 min02Life Insurance
SA4 Life Insurance tests pricing, valuation and risk management for Indian life products - protection, savings, annuities and ULIPs - under IRDAI regulations and the Appointed Actuary regime. Expect a pricing or reserve calculation plus questions on assumptions and policyholder treatment.
327 words, about 2 min03Health and Care Insurance
SA4 Health and Care Insurance tests pricing, reserving and regulation for indemnity health, critical illness, hospital cash and group medical products. The exam expects you to handle morbidity and claims data, apply IRDAI health rules, and explain how provider and policyholder behaviour change results.
325 words, about 2 min04Pensions and Other Benefits
SA4 Pensions and Other Benefits tests the design, funding, accounting and regulation of retirement benefits: defined benefit and defined contribution schemes, gratuity, superannuation, NPS and annuities. Questions often mix a valuation calculation with accounting or funding judgements.
371 words, about 2 min