Course: Life Insurance

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Course title Life Insurance
Course code UMKM/PZPO
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter
Number of ECTS credits 5
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Linda Bohdan, doc. RNDr. CSc.
  • Brebera David, Mgr.
  • Papoušková Monika, Ing.
Course content
Characteristic of insurance. Hazards, criteria of hazards insurability. Classification of insurance, basic terms of commercial insurance, forms of insurance. Structure of the system of insurance. Bankinsurance, management of commercial insurance company, solvency. Mortality tables. Basic characteristic of life insurance, principles of calculation in life insurance, netto and brutto premium. Insurance-technical reserves of life insurance company. Marketing in life insurance. Organization of life insurance company. Insurance intermediaries, supplementary pension insurance, perspectives of the Czech Republic life insurance development, actual issues of life insurance development.

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Methods of individual activities
Learning outcomes
The aim of the course is to master basic products of the life insurance, its specifics and possibilities of its use. The basis creates the application of statistic-mathematic methods in calculation of netto and brutto premium in dependence on the character of insurance benefit. The attention is paid to creation of reserves in connection with paid premium and course of insurance benefit. The course also presents the system of supplementary pension insurance as an alternative. Furthermore, the course focuses on basic types of allowances, its conception and calculation.
Students will be well informed about the system of life insurance.

Assessment methods and criteria
Oral examination, Written examination, Student performance assessment, Discussion

The assignment is granted upon passing the final test. The exam cosists of wtitten, oral and practical part.
Recommended literature
  • Cipra, Tomáš. Finanční a pojistné vzorce. Praha: Grada, 2006. ISBN 80-247-1633-X.
  • Cipra, Tomáš. Pojistná matematika : teorie a praxe. Praha: Ekopress, 2006. ISBN 80-86929-11-6.
  • DAŇHEL, J. a kol.: . Pojistná teorie. . Praha: Professional Publishing, 2005. ISBN 80-86419-84-3 .
  • Dickson, David C. M. Actuarial mathematics for life contingent risks. Cambridge: Cambridge University Press, 2009. ISBN 978-0-521-11825-5.
  • DUCHÁČKOVÁ, E.:. Principy pojištění a pojišťovnictví. Praha: Ekopress, 2003.
  • SAKÁLOVÁ, K.: . Aktuárske analýzy. . Bratislava: Vydavatelství EKONOM, 2006.
  • SAKÁLOVÁ, K.: . Oceňovanie produktov v životnom poistení. . Bratislava: Vydavatelství EKONOM, 2001.

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Economics and Administration Insurance Engineering (2014) Economy 1 Winter
Faculty of Economics and Administration Insurance Engineering (2014) Economy 1 Winter
Faculty of Economics and Administration Insurance Engineering (2013) Economy 1 Winter