LIC Assistant study plan

Define and distinguish the core concepts of risk, peril, hazard, and uncertainty, and classify pure versus speculative risk with three original examples of each

Explain the seven principles of insurance (insurability, utmost good faith, indemnity, insurable interest, proximate cause, subrogation, contribution) and state which ones apply only to general insurance and why

Trace the historical development of life insurance in India from the earliest mutual assessment societies to the nationalisation of life insurance and the formation of LIC

Differentiate life insurance from general insurance on duration, subject matter, indemnity, and claim certainty, and describe the three broad classes of life insurance business (individual, group, micro)

Explain the legal nature of a life insurance contract and list the essential elements of a valid contract as applied to a proposal and acceptance

Describe the roles and duties of the insurer, agent, and policyholder in the formation of the contract, including the doctrine of disclosure and the consequences of non-disclosure and misrepresentation

Outline the structure of the Insurance Act, the IRDAI Act, and the regulations governing policyholders' interests, and identify which body makes which rule

Map the main LIC product families (endowment, whole life, term, money-back, annuity and pension, unit-linked) to the needs they serve, without memorising plan slogans

Calculate and compare premiums and maturity payouts for an endowment, a money-back, and a term plan at the same sum assured and term using simple arithmetic

Explain how bonuses are declared, the difference between simple reversionary bonus, final additional bonus, and interim bonus, and how each affects the maturity amount

Describe the purpose, eligibility conditions, and effect on claim payment of the major riders: accidental death and disability benefit, critical illness, and term rider

Explain the surrender value, paid-up value, and loan facility on a with-profit policy, and compute each for a worked example

Distinguish participating from non-participating products and state the pricing and disclosure implications

Explain the policy document itself: schedule, standard provisions, endorsements, and the meaning of free-look, grace period, and revival

Describe the nomination and assignment provisions, the difference between the two, and how each affects who receives the money

List the documents required for a death claim and for a maturity claim, and explain why each document is needed

Explain the claims process from intimation to settlement, including early claims, the investigation stage, and the role of the ombudsman in disputes

Describe the full policy servicing lifecycle: proposal, underwriting, issuance, premium payment, alterations, revival, and termination

Explain the common alterations (change of address, name, nominee, mode of payment, sum assured reduction) and which ones require underwriting

Summarise policyholder rights and grievance-redressal routes, including the IRDAI integrated grievance management system and the insurance ombudsman's jurisdiction and limits

Write a short, accurate customer explanation of lapse, revival, and surrender that avoids jargon and would be understood by a first-time buyer

Solve percentage, ratio, average, profit and loss, and simple and compound interest problems at speed, targeting under 60 seconds per question

Solve time-speed-distance, time and work, and mixture problems using one consistent method per type

Practise seating arrangement, blood relation, direction sense, and syllogism puzzles in timed sets of ten

Complete two English passages with questions on main idea, inference, and vocabulary, and log every wrong answer with its cause

Revise English grammar essentials: subject-verb agreement, tenses, articles, prepositions, and common Indian-English usage errors

Practise error spotting, sentence rearrangement, cloze test, and synonym-antonym items in timed sets

Revisit the weakest three concepts from weeks 1 and 2 using only your own notes and flashcards

Complete one full-length mock covering all four domains under exam conditions

Revise all domain notes using spaced repetition, covering each domain at least twice

Re-attempt every question logged as wrong in weeks 6 and 7 and confirm each is now answered correctly

Complete two final full-length mocks and compare scores with the week-7 baseline

Rehearse the customer service and claims explanations aloud to build fluency for any descriptive or interview stage