Skip to main content
It looks like you're using Internet Explorer 11 or older. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. If you continue with this browser, you may see unexpected results.
This subject guide provides access to the Library's key resources relevant to the modules RSK3702: Risk Financing and Long Term Insurance
Explore the different resources and contact Leanne at firstname.lastname@example.org if you need any assistance.
In accordance with the Unisa Policy for Copyright Infringement & Plagiarism, you are personally accountable for respecting copyright and licensing requirements. Violation of any of these restrictions could result not only in the loss of your own access to the information resources, but in the loss of access for the entire Unisa community. Disciplinary action may also be taken in terms of any applicable policy or disciplinary code.
Due to contractual and licencing agreements, access to some content may be restricted to the Unisa community.
Inclusion in this LibGuide does not imply University or Library endorsement of the ideas expressed.
Module RSK3702: Introduction
The aim of this module is to enable students to study the principles and nature of life insurance, the structure and regulation of the life insurance industry from a risk management perspective and the principles of self-funding and alternative risk financing arrangements.
Difference Between Long Term And Short Term Insurance:
Insurance can be divided into two basic categories: Short term and long term insurance
Long term insurance is insurance that covers life-changing events in life, such as death, retirement and disability.
- The purpose of long term insurance is to provide you with an income in the long term (retirement), or a lump sum of money in the event that you become permanently disabled or pass away.
- Long term insurance policies include life insurance, funeral insurance, retirement annuities and endowment policies.
Short-term insurance, on the other hand, is insurance that you take out on your possessions.
- The purpose of short term insurance is to protect you against losses that you may suffer as a result of unforeseen events such as accidents, crime, floods, fires or illness.
- Often, short term insurance policies tend to cover the smaller claims or those things that you may be changing a lot, for example vehicles, household etc.
Simply put, when a life (or anything related to a human being) is insured it is considered to be long term insurance. When it is any other item (ie not related to a human being) it is considered to be short term insurance.
South African Insurance Association (SAIA)
View this introductory video on the library!