CBSE | DEPARTMENT OF SKIL EDUCATION

CURRICULUM FOR SESSION 2024-2025

INSURANCE (SUBJECT CODE 814)
JOB ROLE: Sales Executive
CLASS–XI & XII

COURSE OVERVIEW:

Insurance as a financial intermediary, it is a commercial enterprise and a major part of

the financial services industry, but individual entities can also self-insure through
saving money for possible Insurance is a means of protection from financial loss. It is a
form of risk management, primarily used to hedge against the risk of a contingent or
uncertain loss. An entity which provides insurance is known as an insurer, insurance
company, insurance carrier or underwriter, future losses.

This course provides an introduction to insurance services and financial institutions;

students also compare the operations of different private institution product. Students
examine the principles of insurance and the various services of LIC and GIC

OBJECTIVES OF THE COURSE:

In this course, the students will be introduced to the fundamentals concepts of insurance
and features and principles of various general insurance products available in our
country. This course prepare the students to take up various positions in the insurance
industry .The course is also a stepping stone for students aspiring to undertake higher
education in Commerce, Insurance, Management, etc.

Following are the main objectives of this course.

 To acquaint the learners with basic principles underlying the provisions of tax laws
 To familiarize the students regarding various functions and concepts of general
Insurance and career opportunities available in these fields.
 To develop practical understanding among the students associated to
procedure oftaking up of policy and claim settlement procedure, organizing
through classroom discussion/ participation and projects.
 To provide brief insight about the structure of IRDA in our country and how it
work on different parameters.

814-Insurance-Class XI-XII-2024-25
  To provide knowledge to students in concise and understandable format so that
students could learn and apply these concepts in their career for the growth.
 To develop skills in students which are required for insurance career
 Customer Dealings
 People with patience
 People good with numbers and accounting
 Good Analytical Skills

SALIENT FEATURES:

In this modern time, money and its necessity is very important. A developed financial
system of the country ensures to attain development. To attain development there
should be a good developed financial system to support not only the economic but
also the society. So, a bank plays a vital role in the socio economic matters of the
country.

The important role of banks/insurance Company

 It promotes saving habit of people
 Capital formation and promote industry.
 Generates employment opportunities
 Facilitating Trade and Commerce Industry.
 Applying of monitory policy

LIST OF EQUIPMENT AND MATERIALS:

The list given below is suggestive and exhaustive list should be prepared by the
vocational teacher. Only basic tools, equipment and accessories should be procured by
the institution so that the routine tasks can be performed by the students regularly for
acquiring adequate practical experience.

Teaching/Training Aids:
 Computer
 Different forms available for taking policy
 Different forms available for claim settlement
 Broachers of different companies.
 Computer
 LCD Projector
 Projection Screen
 White/Black Board
 Chart papers
814 – Insurance - Class XI & XII - 2024-2025
CAREER OPPORTUNITIES:
 Actuary. Actuaries assess risk so they can set premiums
 Claims Adjuster
 Claims Examiner
 Insurance Claims and Policy Processing Clerk
 Insurance Investigator
 Insurance Sales Agent
 Insurance Underwriter

VERTICAL MOBILITY:

After 12th grade in commerce, a student can opt for graduation in commerce and
takeinsurance as specialization, following career options are available in field.

 Diploma courses
 Certificate courses
 B.Com. in Banking and Insurance
 B.Voc in Insurance
 Master’s Degree courses specialization in insurance
 Master in Insurance & Risk Management.
 Master in Quantitative Finance and Insurance.
 MSc in Econometrics, Operations Research, and Actuarial Studies. .
 Master in finance, accounting and insurance. .
 MSc in Finance and Risk Management.
 MSc Insurance and Risk Management.
 PhD programs

CURRICULUM:

This course is a planned sequence of instructions consisting of Units meant for developing
employability and Skills competencies of students of Class XI and XII opting for Skills subject
along with other subjects.

814 – Insurance - Class XI & XII - 2024-2025

 INSURANCE XI (SUBJECT CODE 814)
Session-2024-25
Total Marks: 100 (Theory-60 + Practical-40)

NO. OF HOURS MAX. MARKS

UNITS for Theory and for Theory and
Practical Practical

Employability Skills

Unit 1 : Communication Skills-III 13 2

Unit 2 : Self-Management Skills-III 07 2

Part A

Unit 3 : ICT Skills-III 13 2

Unit 4 : Entrepreneurial Skills-III 10 2

Unit 5 : Green Skills-III 07 2

Total 50 10

Subject Specific Skills

Unit 1: Introduction 30 10
Part B

Unit 2: Life Insurance 50 20

Unit 3: Annuities and Unit Linked Policies 45 10

Unit 4: Post - Issue Matters 25 10

Practical Work 150 50

Project 10
Part C

Viva 05
60
Practical File 15
Demonstration of skill competency via Lab
Activities 10

Total 60 40

GRAND TOTAL 260 100

NOTE: The detailed Curriculum/ Topics to be covered under Part A: Employability Skills
can be downloaded from CBSE website.

814 – Insurance - Class XI & XII - 2024-2025

 DETAILED CURRICULUM/TOPICS:

Part-A: EMPLOYABILITY SKILLS

S. No. Units Duration in

Hours
1. Unit 1: Communication Skills-III 13
2. Unit 2: Self-Management Skills-III 07
3. Unit 3: ICT Skills-III 13
4. Unit 4: Entrepreneurial Skills-III 10
5. Unit 5: Green Skills-III 07
TOTAL DURATION 50

Detailed Curriculum/ Topics to be covered under Part A: Employability Skills can be

downloaded from CBSE website.

Part-B – SUBJECT SPECIFIC SKILLS (Class XI)

S. No. Units Duration in

Hours
1. Unit 1: Introduction 30
2. Unit 2: Life Insurance 50
3. Unit 3: Annuities and Unit Linked Policies 45
4. Unit 4: Post - Issue Matters 25
Total 150

S. No. Unit Sessions

1. Introduction  Risk
 Financial Implications of Risk
 Insurance—Mechanism of Covering Risk
 Need for Insurance
 History of Insurance in India
 Nationalization of Insurance Sector
 Liberalization in Insurance Sector

814 – Insurance - Class XI & XII - 2024-2025

  Regulatory Body for Insurance Sector

2. Life Insurance  Organizational Set Up

 Selling Life Insurance through Agents & Banks
 Objectives of Life Insurance
 Advantages of Life Insurance
 Types of Life Insurance Policies
 Principle of Insurable Interest and Utmost Faith
 Suicide Clause
 Procedure of taking Life Insurance Policy
 Nomination

3. Annuities and Unit  Annuities—Meaning

Linked Policies
 How does Annuity Work
 Types of Annuities
 ULIP—Concept
 Comparison between ULIP and Traditional Insurance
Plans
 Mechanism of ULIP
 Deductions/ Charges of Fund Manager
 Factors for Selecting ULIP

4. Post - Issue Matters  Lapse of Policy

 Revival of Lapsed Policy
 Surrender Value of Policy
 Assignment of Life Insurance Policies
 Procedure of Settling Claims

814 – Insurance - Class XI & XII - 2024-2025

 INSURANCE XII (SUBJECT CODE 814)
Session-2024-25
Total Marks: 100 (Theory-60 + Practical-40)

NO. OF
MAX. MARKS
HOURS
UNITS for Theory
for Theory
and Practical
and Practical
Employability Skills
Unit 1 : Communication Skills-IV 13 2
Unit 2 : Self-Management Skills- IV 07 2
Part A

Unit 3 : ICT Skills- IV 13 2

Unit 4 : Entrepreneurial Skills- IV 10 2
Unit 5 : Green Skills- IV 07 2
Total 50 10
Subject Specific Skills
Unit 1: General Insurance 25 10
Unit 2: Fire Insurance 25 08
Unit 3: Marine Insurance 30 08
Part B

Unit 4: Motor Vehicle Insurance 20 08

Unit 5: Medi-Claim and Accident Insurance 25 08
Unit 6: Burglary and Theft Insurance 25 08
Total 150 50
Practical Work
Project
10
Viva 05
Part C

Practical File 60 15
Demonstration of skill competency via Lab
10
Activities
Total 60 40
GRAND TOTAL 260 100

814 – Insurance - Class XI & XII - 2024-2025

 DETAILED CURRICULUM/TOPICS:

Part-A: EMPLOYABILITY SKILLS

S. No. Units Duration in

Hours
1. Unit 1: Communication Skills-IV 13
2. Unit 2: Self-management Skills-IV 07
3. Unit 3: Information and Communication Technology Skills-IV 13
4. Unit 4: Entrepreneurial Skills-IV 10
5. Unit 5: Green Skills-IV 07
TOTAL DURATION 50

The detailed Curriculum/ Topics to be covered under Part A: Employability Skills

can be downloaded from CBSE website.

Part-B – SUBJECT SPECIFIC SKILLS

S. No. Units Duration in

Hours
1. Unit 1: General Insurance 25
2. Unit 2: Fire Insurance 25
3. Unit 3: Marine Insurance 30
4. Unit 4: Motor Vehicle Insurance 20
5. Unit 5: Medi-Claim and Accident Insurance 25
6. Unit 6: Burglary and Theft Insurance 25
TOTAL DURATION 150

814 – Insurance - Class XI & XII - 2024-2025

 S. No. Unit Sessions
1. General Insurance  Meaning and importance of General Importance.
 Different types of General Insurance.
 Fire Insurance.
 Marine Insurance.
 Motor Vehicle Insurance.
 Medi-Claim Insurance.
 Accident Insurance.
 Burglary and Theft Insurance.
 Present Organizational set up of General
Insurance companies in India - GICI - its
subsidiaries, Private Companies.
 Principles of General Insurance - Insurable Interest,
Indemnity, subrogation, good faith.
2. Fire Insurance  Types of Fire insurance Polices - Their main
features and clauses.
 Meaning & Significance of Average Clause.
 Procedure for taking Fire Insurance Policies and
settlement of claims.
3. Marine Insurance  Three types of Marine insurance - Cargo
Insurance, Hull Insurance and Freight Insurance.
 Types of Policies.
 Clauses of a Marine Insurance Policy.
 Marine losses. Topics in
study material are-
 Sale Contract
 History of Marine insurance
4. Motor Vehicle  Types of Polices and Risks Covered therein.
Insurance  Procedure for obtaining motor Insurance Policy.
 Settlement of claims. Topics in study material are-
 Liability to pay compensation in certain cases
on the principle of no fault
 Forms of Motor Vehicle Insurance Policies
5. Medi-Claim and  Important conditions of such Polices and
Accident Benefits available therein, Procedure for claims.
Insurance
6. Burglary and Need for such Insurance.
Theft Insurance  Information to be furnished and procedure to be follow.
 Recovering the claims.
Topics in study material are-
 Exclusions from the Policy
 Procedure of Claim under Theft or Burglary Policy
 Format of Theft and Burglary Policy
814 – Insurance - Class XI & XII - 2024-2025
 PRACTICAL GUIDELINES FOR CLASS XI

Assessment of performance:

The two internal examiners, assigned for the conduct and assessment of Practical Examinations
each in Senior Secondary School Curriculum (Under NSQF). Question for the viva examinations
should be conducted by both the examiners. Question to be more of General nature, project work or
the curriculum. Investigatory Project especially those that show considerable amount of effort and
originality, on the part of the student, should get suitable high marks, while project of a routine or
stereotyped nature should only receive MEDIOCRE marks.
Procedure for Record of Marks in the Practical answer-books:

The examiner will indicate separately marks of practical examination on the title page of the answer-
books under the following heads:-
Project -10 marks

Projects for the final practical is given below .Student may be assigned

Viva based on Project -05 marks

The teacher conducting the final practical examination may ask verbal questions related to the
project, if any, done by the student. Alternatively, if no project has been assigned to the students,
viva may be based on questions of practical nature from the field of subject as per the Curriculum
Practical File -15 Marks
Students to make a power point presentation / assignment / practical file / report. Instructor shall
assign them any outlet to study the elements in retailing.

814 – Insurance - Class XI & XII - 2024-2025

 Suggested list of Practical –

1. Visit the websites of five different Insurance companies offering Life Insurance. Make a
Project detail of various policies offered by them.

2. Prepare a comprehensive report for each of these companies covering the following:

a) Insurance products best suited for the different life stages- take 5 examples like child
below 10 years, 20 year old young boy, Married woman, 30 year old unmarried lady, a
retired person etc.

b) Recommend the best suited Life insurance policy to different category of individuals.

c) List of documents to be submitted for applying each type of insurance policy. Also
paste sample application forms.

d) Explain the claim procedure along with the required document at the time ofoccurrence
of insured event.

3. Prepare a comprehensive report for each of these companies covering the following:

a) Insurance products best suited for the different life stages- take 5 examples like child
below 10 years, 20 year old young boy, Married woman, 30 year old unmarried lady, a
retired person etc.

b) Recommend the best suited Life insurance policy to different category of individuals.

c) List of documents to be submitted for applying each type of insurance policy. Also
paste sample application forms.

d) Explain the claim procedure along with the required document at the time of
occurrence of insured event.

Demonstration of skill competency in Lab Activities - 10 marks

Guidelines for Project Preparation:

The final project work should encompass chapters on:

a) Introduction,

b) Identification of core and advance issues,

c) Learning and understanding and

d) Observation during the project period.

814 – Insurance - Class XI & XII - 2024-2025

 PRACTICAL GUIDELINES FOR CLASS XII

Assessment of performance:

Two examiners, assigned for the conduct and assessment of Practical Examinations each in
Senior Secondary School Curriculum (Under NSQF) of which one Examiner Is EXTERNAL
appointed by CBSE and the other Examiner should be from the home school. Question to
be more of General nature, project work or the curriculum. Investigatory Project especially
those that show considerable amount of effort and originality, on the part of the student,
should get suitable high marks, while project of a routine or stereotyped nature should only
receive MEDIOCRE marks.

Procedure for Record of Marks in the Practical answer-books:

The examiner will indicate separately marks of practical examination on the title page of the
answer-books under the following heads:-

Project - 10 marks

Projects for the final practical is given below .Student may be assigned

Viva based on Project -05 marks

The teacher conducting the final practical examination may ask verbal questions related to
the project, if any, done by the student. Alternatively, if no project has been assigned to the
students, viva may be based on questions of practical nature from the field of subject as per
the Curriculum

Practical File -15 Marks

Students to make a power point presentation / assignment / practical file / report. Instructor
shall assign them any outlet to study the elements in retailing.

Suggested list of Practical –

1. Make a detailed profile of your neighbors and friends, in terms of their demographic,
riskappetite and insurance requirements.

814 – Insurance - Class XI & XII - 2024-2025

 2. Prepare a comprehensive report based on the above covering the following:

a) Insurance products best suited for their requirements and give the rationale for
the same.

b) Details of the regulatory aspects of each of the recommended types of

Insurancefrom investment and protection point of view.

c) List the documents to be submitted and fill few sample applications.

d) Explain the procedure along with the requirements for claiming insurance at the
time of occurrence of insured event.

3. Make a detailed profile of your friends, in terms of their demographic, risk appetite
andinsurance requirements.

4. Prepare a comprehensive report based on the above covering the following:

a) Insurance products best suited for their requirements and give the rationale for the
same.

b) Details of the regulatory aspects of each of the recommended types of

Insurancefrom investment and protection point of view.

c) List the documents to be submitted and fill few sample applications.

d) Explain the procedure along with the requirements for claiming insurance at the
time of occurrence of insured event.

Demonstration of skill competency in Lab Activities -10 marks

Guidelines for Project Preparation:

The final project work should encompass chapters on:

a. Introduction,

b. Identification of core and advance issues,

c. Learning and understanding and

d. Observation during the project period

814 – Insurance - Class XI & XII - 2024-2025