Life Insurance, 15th Ed.

Review Life Insurance, 15th Ed.


Life Insurance, 15th Ed.


This book is published on the 100th anniversary of Life Insurance, 1st ed. Initially published in 1915, the book discusses various aspects of insurance to the common readers. It covers many topics, such as mortality risks, longevity risks, and morbidity risks.

The book focuses on the finance and economic fundamentals that support the theory and practice of insurance. It involves the latest application of insurance in various ways. It demonstrates how it is priced, what the products are, and how it can be beneficial to individuals, families, and businesses alike. 

This book delves into a clear explanation of the many aspects of life insurance. It discusses the products, pricing, and even benefits. It explains how insurance works and why it is essential. 

The book emphasizes the economic and financial factors that affect the theory and practice of insurance and explains this well to the readers. It also notes the most updated innovations in insurance and provides enough informational background on each insurance aspect to give the reader well-rounded learning. 

About the Author

KENNETH BLACK JR. founded the Department of Risk Management and Insurance Department at Georgie State University in 1959. He earned Regent’s Professor Emeritus and Dean Emeritus in the Robinson College of Business at the said university. The Kenneth Black Jr. Chair of Insurance was founded in his honor. He passed away in 2005. 

HAROLD D. SKIPPER is Professor Emeritus in Risk Management and Insurance at Georgia State University. He earned a bachelor’s degree from the University of Pennsylvania and authored four books and dozens of articles.

KENNETH BLACK III graduated from the University of North Carolina and received his Juris Doctorate from the University of Georgia School of Law. He worked in various spectrums of insurance and provided financial services.

Table of Contents


Introduction to Life Insurance Life and Health Insurance in Personal Financial Planning 

Life and Health Insurance Fundamentals

The History, Role, and Importance of Life and Health Insurance

Types of Life Insurance Products

Introduction to Life Insurance Products and Their Environment

Whole Life Insurance Policies 

Flexible-Premium Life Insurance Policies 

Annuity and Special-Purpose Policies and Benefits 

Aspects of Life Insurance Evaluation 

The Life Insurance Contract: I 

The Life Insurance Contract: II 

Life Insurance and Annuity Cost Analysis and Disclosure 

Insurance Advisor and Company Evaluation 

Uses of Life Insurance in Personal Financial Planning

Life Insurance Planning 

Life Insurance and Annuity Taxation in the United States 

Life Insurance in Estate and Retirement Planning 

Business Uses of Life Insurance 

The Uses, Types, and Evaluation of Health Insurance Individual Health Insurance: I 

Individual Health Insurance: II 

The Mathematics of Life and Health Insurance 

Fundamentals of Life Insurance Mathematics 

Net Premiums 

Life Insurance Reserves and Cash Values 

Gross Premium Rate Structures and Nonguaranteed Policy Elements 

The Mathematics of Health Insurance  

Selection and Classification in Life and Health Insurance 

Life and Health Insurance Underwriting: I 

Life and Health Insurance Underwriting: II 

Employee Benefit Plans 

Social Insurance 

Group Insurance 

Health Care Plans

Retirement Plans 

Organization, Management, and Regulation of Life and Health Insurance Companies 

Life Insurance Company Organization and Management 

Life Insurer Financial Management 

Life Insurer Investment Management 

Life Insurer Financial Reporting 

Marketing Life and Health Insurance 

Regulation and Taxation of Life Insurance in the U.S. 


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