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Abstract

This research is concerned with industrial life assurance as a kind of life assurance which is more suitable to the developing countries with low per-capita income level. However, the research aim of this study is to apply the theoretical basis of life assurance in designing an ideal industrial life policy, which suit the Egyptian market and other similar developing countries. In this study, two approaches to design the ideal policy are developed.

The first approach concerns the possibility of reducing the premiums of the policy to a minimum level which suit the per-capita income of Egypt and other developing countries. In this respect, the research constructed for the first time in the history of Egyptian insurance a mortality rate based on Egyptian experience.

The research also includes a complete set of monetary tables based on Egyptian mortality rates (policies and sums assured) and interest rates varying between 4% and 7%.

The loading rates are comprehensively analysed, and in order to reduce the cost of industrial life assurance, the researcher suggests that this branch should be charged only with direct expenses, while exempted from any share of indirect expenses. In this case, we may call the industrial life assurance "the social industrial life assurance".

The second approach concerns the benefits of the policy according to the circumstances of the Egyptian market. In this respect, the factors affecting and influencing the design of the ideal policy are discussed. Such factors are: the knowedge of insurance among the population, the per-capita income and its capacity to buy life assurance, the benefits of the social insurance system, and finally the salesmanship of the people working in the area of life assurance.

In view of the above mentioned factors, the researcher suggests the term insurance with a refund of the premiums in case of insured survival, as an ideal policy in view of the circumstances of the Egyptian market.

Finally, the complete calculation of the official premiums for the suggested policy are presented.

Publication Type:	Thesis (Doctoral)
Subjects:	H Social Sciences > HA Statistics H Social Sciences > HT Communities. Classes. Races Q Science > QA Mathematics
Departments:	Bayes Business School > Bayes Business School Doctoral Theses Bayes Business School > Faculty of Actuarial Science & Insurance Doctoral Theses

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