III IC-11 study guide
III IC-11 · Work through your exam, one topic at a time.
IC-11 is a professional examination paper of the Insurance Institute of India (III), the Mumbai-based institute whose examinations cover licentiate, associateship and fellowship levels as well as specialised diplomas. Candidates searching for IC-11 are usually working in or entering the life insurance sector and want a structured, syllabus-based credential that tests both technical understanding and regulatory awareness. The paper is organised around four equal-weighted domains: Principles of Insurance, Practice of Life Insurance, Regulations of Insurance Business, and Life Insurance Finance. That spread means a candidate cannot pass on product knowledge alone - underwriting, proposal and policy documentation, claims, IRDAI-linked regulation, and the financial mechanics of life funds, reserves, valuation and surplus all carry weight. The III IC-11 study guide has 4 sections and about 1,508 words.
01Principles of Insurance
This domain tests the legal and conceptual foundations that decide whether a life insurance contract is valid and whether a claim is payable. Expect questions on risk pooling, insurable interest, utmost good faith, indemnity, proximate cause, subrogation and contribution - and on why life insurance departs from some of them.
417 words, about 2 min02Practice of Life Insurance
This domain tests the policy lifecycle from proposal to claim: underwriting, policy documents, premium payment, lapse and revival, nomination and assignment, surrenders, loans and death or maturity claims. Questions often turn on dates and on who receives the money.
377 words, about 2 min03Regulations of Insurance Business
This domain tests the legal framework within which Indian life insurers operate: the IRDAI Act, 1999, the Insurance Act, 1938, licensing, capital and solvency, conduct rules, commissions, grievance redressal and anti-money-laundering controls. Regulator: IRDAI was established under the IRDAI Act, 1999 to regulate, promote and ensure orderly growth of the insurance sector.
353 words, about 2 min04Life Insurance Finance
This domain tests how a life insurer is financed and valued: premium components, reserves, surplus, bonus, investments, reinsurance and taxation. Expect calculations and questions on who bears investment and mortality risk.
361 words, about 2 min