Report in Delta Life Insurance Company

Executive Summary The development of a country depends up on the consolidate development of all infrastructures like-agricultural sector, industrial sector, financial sector, technological sector etc. But developing all these structures is not easy. A lot of troubles and threats always hinder and make difficulties to success. The most difficult problem is financial risk. So if it is feasible to provide financial protection then most of the structural development will be achievable with minimal efforts. And the most well known practical method for handling financial risk is insurance.Delta Life Insurance Company Limited was incorporated in November 10, 1986 and is mainly engaged in Ordinary Life (OL), Group Insurance (GI), Health Insurance (HI) business and non-traditional micro insurance business under the name of Gono-Grameen Bima (GN-GRB). The Company is a publicly traded Company and its shares are listed on the Dhaka Stock Exchange and Chittagong Stock Exchange. However, we have p repared this report on Delta Life Insurance Co. Ltd, which is one of the growing and prospective insurance companies in the insurance industry.The company is providing protection and financial security to the nation, whilst adding shareholders value thought customer service excellence. By the way of examining and evaluation the functions and performance of Delta Life Insurance Co. Ltd, we tried to illustrate a true scenario of insurance industry of Bangladesh. Our report topic is ? Overall Activities Delta Life Insurance Co. Lid?. So, to get an accurate realization about Delta Life Insurance Co. Ltd. Basically, we emphasize on underwriting process & claim settlement issues of Delta Life Insurance Company. 1. Introduction: 1. Origin: As we are the student of business administration we have been authorized by our guide teacher to prepare a report on the activities of Delta Life Insurance Company given to the customers and their underwriting process and claim settlement. 1. 2 Objective s of the report: 1. 2. 1: Broad Objectives: A broad objective is to find out the overall activities of Delta Life Insurance Company ltd and the procedure of underwriting processes and claim settlement issues 1. 2. 2: Specific Objectives: 1. To have a brief idea about insurance industry and their policy and procedures 2.To find out their services. 3. To find out the different products. 4. To find out the different types rates. 5. To find out the different types condition 1. 3 Scope: To find out the overall activities & accounts department of Delta Life Insurance Company ltd we have visited Motijheel Branch of Delta life insurance compny. 1. 4: Methodology: * Primary Data: Primary data was collected with the help of information given by M. Mosharaof Hossain, Assistant vice president, Delta life insurance company * Secondary Data: Secondary data was collected form the following sources: * Websites Books regarding insurance * Articles on insurance policies 1. 5: Limitations: In this sho rt time, we have tried to give our maximum effort to provide the information about the total activities of Delta Life Insurance Company ltd. Several drawbacks that appeared at the time of preparing the report and hindered the total work process are as under: Time limitation: The limitation of this study involved limited time frame that was available for completing such an in-depth report. Our semester consists of four month.Within this time most of the teachers give the assignment or report after mid term exam and we are required to prepare and submit assignment or report within this short time. As a result we had to divide time for preparing report for our courses. As a partial fulfillment of our course we also required to prepare this report within short time. So it was hard to complete tis assignment covering all important matters . Other limitations: * One of the main barriers of the report was the confidentiality of the data * Not able to collect information from the source. It was difficult to include all the information to prepare a proper report Company Background Name, Address, Established date & some words Delta Life Insurance Co. Ltd. established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector. A brief explanation as to the growth of life insurance business in Bangladesh is in order here.Bangladesh declared independence from the Pakistani rules on March 26, 1971 following which she had to witness a bloody liberation struggle with the occupation forces lasting for 9 months before they were defeated. Insurance business which was exclusively carried on in private sector before independence was nationalized after liberation in 1972 primarily to address the emer ging situation of eroding public confidence in the industry that was left staggeringly short of resources in the face of huge losses caused by the war of liberation.After a series of experimentation, a state-owned body, namely Jiban Bima Corporation (JBC), established in May, 1973 for transacting the life insurance business, took over the assets and liabilities under life portfolios of all erstwhile private insurance companies and started business in its own name. However, things did not improve; rather, in many respects became more exacerbating and the Government then thought it better to allow private sector participation in insurance business.Since inception, Delta Life set before itself a high standard of all round performance coextensive with professional soundness and proficiency. It soon made a mark in the life insurance arena by not only being the leader among the private sector indigenous companies, but by undertaking and successfully implementing innovative and welfare ori ented life insurance schemes. It introduced an array of conventional life and group insurance products – many of which were the first in Bangladesh. For the first time, health insurance products were also introduced by Delta Life.But more importantly, in fulfilment of the avowed commitment towards social development, Delta Life for the first time not only in Bangladesh but probably in the World, devised and introduced micro-life insurance-cum-savings products specially suited to the needs and pockets of poor people of the country who constitute more than 80% of the people of Bangladesh Two projects of the company namely Grameen Bima for the rural people and Gono Bima for the poor and marginal savers of the urban areas were initiated to devote themslave exclusively to marketing and management of these innovative products.We are happy to report that we have achieved a good measure of success although there is a long way to go. These schemes that we have introduced have created great stir and enthusiasm among the general mass who, before these projects started functioning, could not even dream of owning a policy that provides the much needed life insurance coverage along with facility of regular savings on a long-term basis. At a later stage i. e. in the year 2002, the projects were merged into a division of Delta Life, namely, Gono Grameen Bima Division.The GNGRB Division has been growing at a first rate of more than 25% p. a. for the last couple of the years and is poised to maintain this growth rate at least in the next five years or so. Vision To be a market leader in providing integrated total security clients service, to be an innovative, profitable, customer friendly with a global focus. Mission: Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and pension plans.Objectives of Delta life Insurance company: To serve the humanity for its well being in the present and the world hereafter by pro viding financial and moral gains through utmost good faith, good conduct, mutual trust, sincerity, integrity and personalized services. Address of Main Branch: * Delta Life Insurance Co. Ltd * Gouse Pak Building (5th Floor) * 28/G/1, Toyebee Circuler Road * Motijheel C/A, Dhaka Ph: +88 02 9560407 Branches Branches /offices/service center/zone| Address |Dhaka Service Center| * Gouse Pak Building (5th Floor) * 28/G/1, Toyebee Circuler Road * Motijheel C/A, Dhaka * Ph: +88 02 9560407| Comilla Service Center| * Gani Bhuiyan Mansion (3rd Floor) * Monohorpur, Comilla * Ph: +88 081 68796| Rajshahi Service Center| * C & B More * Kajihata, Rajshahi * Ph: +88 0721 770693| Chittagong Service Center| * Ajmol Arcade (4th Floor) * 1806, Sheikh Mujib Road * Agrabad C/A, Chittagong * Ph: +88 031 713059| Barisal Service Center| * Ahsan Plaza (2nd Floor) * Bot Tola * Nobogram Road, Barisal * Ph: +88 0431 64306| Dhaka Metro ZOC| * Baitul Abed Tower (10th Floor) * 53, Purana Paltan * Dhaka * Ph: +88 02 9570324| Chittagong ZOC| * 119/120, Mirzapur * Muradpur, Chittagong * Ph: +88 031 656333| Barisal ZOC| * Shahida Villa (3rd Floor) * Bogra Road, Barisal * Ph: +88 0431 62943| There are so many branches existing in Bangladesh. We don’t want to include those. Board of Directors Chairman Mr. Monzurur Rahman Directors: * Mr. Aziz Ahmed * Mr. Kazi Fazlur Rahman * Mr. Borhanuddin Ahmed * Ms. Anika Rahman * Mrs. Adeeba Rahman * Mr. Zeyad Rahman * Mr. Md. Mujibur Rahman * Mr. Md. Abdul Wahab * Mr. Arif Ahmed * Mr. Md. Nurul Islam * Mr. Golam Sarwar * Mrs. Syeda Soyeli Ahmed * Ms. Saika Rahman 2. 1 Committees of the Board Audit Committee Chairman * Mr. Aziz AhmedMember * Mr. Borhanuddin Ahmed * Mr. Md. Mujibur Rahman * Mr. Zeyad Rahma ————————————————- Delta life Insurance Co. Ltd Organogram of Delta Life Insurance Company Ltd Chapter-02 Performance Analysis General Account s (Provisional and Unaudited) `(Amount In Crore Tk. ) General: Particulars| 2010| 2009| 2008| 2007| 2006| First Year Premium| 120. 51| 107. 40| 95. 32| 82. 30| 85. 40| Renewal Premium| 342. 91| 302. 83| 266. 79| 245. 00| 207. 60| Group Insurance Premium| 21. 28| 19. 94| 16. 17| 10. 60| 8. 32| Health Insurance Premium| 14. 42| 10. 68| 5. 22| 3. 29| 2. 66| Gross Premium| 499. 12| 440. 85| 383. 50| 341. 9| 303. 44| Growth over Previous Year| 13. 22 %| 14. 95 %| 12. 40 %| 12. 44 %| 17. 84 %| Investment Income| 298. 95| 180. 99| 127. 99| 112. 00| 89. 66| Income from Other Sources| 5. 89| 4. 87| 4. 83| 2. 61| 1. 41| Management Expense Particulars| 2010| 2009| 2008| 2007| 2006| Commission Expense| 91. 16| 80. 36| 69. 35| 62. 67| 63. 67| Admin Expense| 68. 69| 62. 34| 56. 40| 50. 26| 44. 45| Management Expense (as % of gross premium)| 32. 03| 32. 37| 32. 79| 33. 10| 35. 63| Claims Particulars| 2010| 2009| 2008| 2007| 2006| Number of Claims| 149051| 156444| 214301| 151523| 59567| Amount of C laims| 223. 54| 204. 80| 243. 40| 175. 81| 89. 85| OthersParticulars| 2010| 2009| 2008| 2007| 2006| Assets| 2,180. 23| 1,755. 61| 1,473. 62| 1,325. 25| 1,129. 92| Life Fund| 2,034. 95| 1,619. 00| 1,347. 01| 1,206. 07| 1041. 44| Chapter-03 Number of policies 1. Ordinary Life Insurance 2. Gono Grameen Bima 3. Group Life Insurance 4. Health Insurance Chapter-04 Under – writing process & claim settlement process: 4. 1: Ordinary Life Insurance Delta Life offers a wide variety of ordinary life product/plans ranging from the most common endowment type to more modern and sophisticated plans like endowment with open term, pension plan with built in provision for increasing pension, increasing protection with provision for premium refund etc.The plans have been designed keeping in view the diverse and multifaceted needs of the insuring public belonging to different strata of the society. Some of the popular plans are briefly described below. 4. 1. 1: Endowment plan with and without pro fits: The most common and widely popular, this plan provides for a fixed sum at end of a particular term or at earlier death of the assured. The plan is available under both options i. e. with profit and without profit. This is a straightforward coverage allowing a person to plan his future needs for security and projected savings through means of insurance. eds for security and projected savings through means of insurance. 4. 1. 2: One-two-three endowment plan with profitsThis plan provides for high security at earlier death of the assured before expiry of term (10 & 20 years) or the sum assured at expiry of the term. The plan provides for double the sum assured at premature death due to illness or treble the sum assured if death occurs directly as the result of an accident along with accrued bonuses till death or maturity as the case may be. 4. 1. 3: Installment payment plans with or without profit: a) Three payments plan Given for terms like 12, 15, 18, 21 years with or without p rofits this plan provides for one fourth of the sum assured upon expiry of each one third of the term and on death at anytime within the term the full sum assured – payment of one or all the installments notwithstanding.In case of survival to the end of the term remaining portion of the sum assured along with profits is paid after deducting the installments already paid. b) Bi-annual payment plan is given for 10, 15 & 20 years' term and provides for payment of a portion of sum assured bi-annually after expiry of the 4th year of the policy, if the policyholder is then living. The amount of installment and when payable is shown in the table below: Policy Term| Amount of Installment| When Payable| Sum Assured Payable on Maturity| 10 Years| 20%| Upon expiry of 4th, 6th, 8th years| 40%| 15 Years| 15%| Upon expiry of 4th, 6th, 8th, 10th 12th years| 25%| 20 Years| 10%| Upon expiry of 4th, 6th, 8th, 10th, 12th, 14th, 16th ; 18th years| 25%|Notwithstanding the payment of any number of installments, the policyholder remains covered for full risk and on death occurring before maturity, full sum assured is payable. * The higher numbered table refers to without profit premium rates. 4. 1. 4: Premium back term Insurance Plan without Profits These are comparatively low cost plans. These plans provide for payment of sum assured in case of premature death within the term or refund of all premiums paid at end of term. Under Table-59(A), sum assured keeps on increasing at 8% p. a. on each successive policy anniversary and such increased sum is paid at death during the term. On survival up to the end of term, all premium paid during the term is paid.Under Table-65(A) a guaranteed profit equal to 10% of sum assured is paid along with full premium at end of term as survival benefit. On death before maturity, the sum assured is payable. 4. 1. 5: Pension Plan (Table-72A, 72D) without profits. Under plan pensions are provided at quarterly intervals from an age designated by the policyholder for life, guaranteed for a minimum period of 10 years i. e. if the pensioner dies anytime within 10 years his designated nominee will get pension for remaining term of 10 years. Before pension starts, if the assured policyholder dies, 10 times the annual pension is paid as a lump-sum to his nominee and the policy is terminated upon such payment.There is another plan that while providing for full protection against premature death as described above, provides for pension from a designated age as elected by the policyholder at an increasing rate i. e. pension will increase at 10% at intervals of two years. Payment of pension is guaranteed for at least ten years and thereafter as long as the pensioner lives. Both these pension plans provide for waiver of premium in case of permanent and total disability due to accident before commencement of pension. 4. 1. 6: Child Educational Protection Plan with Profits Multiple benefits in the form of scholarships, monthly annuities et c. in addition to sum assured are available under these plans.Under one plan sum assured or a part thereof is also payable to the policyholder in case the child dies prematurely. 4. 1. 7:. Tri-dimensional Policy Built-in benefits for payment of 50% sum assured immediately if critical illness is diagnosed. Premium and the sum assured will thereafter be halved and the policy continues. Under this plan, a spouse may also be covered for major disease benefits. 4. 1. 8: Moving Term Plan Policies under the plan are initially issued and is to be taken for a minimum term (6 to 10 years) as elected by policy holder. Any time within this minimum term if death occurs, full sum assured is payable. At the expiry of the minimum term, the policy may be surrendered for full refund of premiums paid.However, the policyholder need not terminate his policy at end of the minimum specified period. The policy will automatically continue till age 65 years of the policyholder unless he terminates it earlier . The survival benefit comprises of refund of all premiums paid along with bonuses. In case of premature death the nominee(s) is paid the sum assured plus all premiums paid till death, or all premiums paid with profit accrued till death whichever is greater. 4. 1. 9: Single Premium Multiple Security Plan It is a single Premium Policy offering multiple securities for five years term. It covers natural death, permanent and partial/total disability and seven major diseases.Premiums are based on the age of the proposer. This plan perfectly suits the needs of the executive class. Policy Conditions * Surrender Value: After payment of two full years' premium, the policy acquires cash surrender value which is quoted on request unless stated in the policy itself. * Loan: At any time after a cash surrender value is available under the policy and while the policy is in force, the policyholder may obtain, subject to the company's existing rules, a loan on the policy up to 90% of the cash surren der value. * Age Proof: Age of life assured as declared while applying for the policy has to be authenticated with an age proof document acceptable to the company.The company reserves the right to require proof of age of the life assured before paying any claim under the policy if not admitted earlier. * Settlement Option:Payee may elect to receive the proceeds of the policy in installments instead of in a single sum, in such a manner as may be agreed upon with the company. * Suicide: Should the life assured commit suicide, whether the assured be then sane or insane, within two years from the commencement date or from reinstatement of the policy, then the liability of the company shall be limited to the refund of all premiums paid under the policy less indebtedness, if any, at the time of such death. Bonus: Delta Life pays attractive bonuses to its with-profit policies.The present rate of policy bonuses are as following: a) A compound reversionary bonus @ 5% of paid up sum assured. This bonus is not paid on the installments withdrawn (under Table-03, 04) from the date of such withdrawal. b) A simple reversionary bonus ranging from Tk. 10 to Tk. 15 per thousand sum assured per year depending on term. c) A terminal bonus equal to 10% to 12% of sum assured at maturity of policy depending on terms if the policy would have been in force for at least 2/3rd of its term. Average Rate of Bonus On the basis of the three types of bonuses the Company now pays to its with profit policies, the average bonus earned by a Tk. ,00,000 sum assured endowment policy (except Table No. 03, 04) per thousand sum assured per year shall be as following: Term of Policy| Total Bonus at Maturity| Average Rate per Thousand per S. A. year| 10 Years| Tk. 52,000. 00| Tk. 52. 00| 15 Years| Tk. 81,000. 00| Tk. 54. 00| 20 Years| Tk. 1,15000. 00| Tk. 58. 00| | | | | | | | | | | | | 4. 2: Gono Grameen Bima Delta Life first launched Micro-insurance product in 1988 through its Grameen Bima Project(GR B) to cater to the necessity of economic protection against premature death and of disability as well as providing a way for regular savings for the poor and low income group of people living in villages.Later it started another project in 1994, namely, Gono Bima(GNB) for the urban poor and the low income class. These projects are now merged under the name of Gono-Grameen Bima Project(GN-GRB). The initial problems apart, the project started to yield impressive results right from the beginning by creating great interest among the target population who could not even perceive an institutional arrangement through which the ever present problems of insecurity of life could be addressed. To suit the needs and pockets of the target people, and for efficient management of these portfolios, some of the age-old traditional concepts of carrying on life insurance business had to be diluted and in some cases replaced by simple and straightforward practices.Yet, the results are so encouraging th at Delta Life is now regarded far and wide as the undisputed leader espousing the cause of welfare of teeming millions and its experiences are now used to advantage not only by indigenous companies but also other micro-savings organizations abroad. 4. 2. 1: Target Group and the Product In GN-GRB the formalities are minimum. Insurance Cover is given under Group Insurance concept. A person interested in a policy submits a simple two-page proposal form; it is signed or thumb imprinted by him or her. There is no need for medical check-up. The person needs to be between 18 and 45 years of age, have a monthly income of Tk. 5,000. 00 (US $100. 00) or less, be of good health and supply a Declaration of Good Health (DGH) at the time of submitting the Proposal form.Death through pregnancy complications within the first year of the policy and death through suicide in the first year of the policy are not covered under an â€Å"exclusion clause†. Simple endowment with profit policies are offered for 10 and 15 years term both with premium payment mode being weekly or monthly. Premium rate is the same irrespective of age at entry. Besides this plan, new plans like three-payment plan with 12 and 15 years term and double protection endowment plan have recently been introduced. 4. 2. 2: Policy Documents Upon acceptance of the proposal, a pass book is issued to the policyholder detailing all terms and conditions of the policy.The pass book serves as the purpose of recording of all payments made by him towards the policy. There is one group policy document for the policyholders of each Thana or Block. For individual policyholders the passbook serves as policy document. 4. 2. 3: Micro Investment (Loan) GN-GRB gives small project loans to its policyholders on a group liability basis. No collateral is required. There is 20% service charge on the loans, which is calculated at a flat rate and added to the principal amount. The loan, together with the service charge, is repayabl e in 12 equal monthly installments. The repayments are collected from door to door by the organizers. Recently a decision has been taken to establish small collection booths in the villages.A person must be a policyholder and pay premiums for atleast one year before being eligible for a loan. The maximum loan given is Tk. 5,000. 00 (US $100. 00) per policyholder. The loans are for income generating activities (IGA) only. Policyholders form a committee of 5 to 7 members. 3 policyholders selected by the committee are given the first loan. After recovery of 3 installments from each of the first three borrowers, the next 3 are given their loans and so on. As a general rule, 60% of the premium income of an area and 40% of the repaid loan of an area are available for loan in that area. Also 100% of premium collection of a committee is available for loan to that committee. 4. 3: Group Life Insurance Group Life InsuranceGroup Insurance is an instrument for providing life insurance coverage (protection) to a number of individuals under a single contract (policy) who are associated together for a common interest other than insurance. It is the most cost effective means to provide immediate financial support to an insured member and/or his family in case of devastating events like-death, disability, disease as well as retirement. Group Insurance has already established its importance as a component of â€Å"Employee Benefit Package† in Bangladesh. Exclusive features of Group Insurance are: * Insurance coverage to a number of individuals under a single contract * Simple insurable conditions * Easy administrative procedure * Prompt claim settlement Affordable premium * Tax exemption on premium Delta Life offers a host of Group-Life Insurance schemes from which an organization/ employer may choose for benefits of its members/employees, as may best serve their interest according to organizational setup. To be treated as a group, the following criteria need to be fulfi lled. * A â€Å"Group† Should comprise of at least 15 members * It should be a legitimately organized body Group clients of Delta Life Insurance Company Limited include: * Semi-Government organization, autonomous bodies * Private, Non-Government Organizations (NGO's) * Educational & Financial Institutions * Public Limited Companies Associations, Business organizations etc. Group Life Insurance Schemes offered by Delta Life are of two types: * Traditional Schemes: For insurance coverage of members/employees of a Group * Exclusive Schemes: For insurance coverage of clients of Financial Institutions 4. 3. 1: Traditional Scheme: These are the commonly offered â€Å"Group-Life Insurance† schemes and are also known as Basic Schemes: These are: Short Term Contract * Group Term Life Insurance Scheme (GT) * Group Term Life with Premium Refund Scheme (GTR) Long Term Contract * Group Endowment Life Insurance Scheme (GEN) * Group Pension Scheme (GP) There are several variants of B asic Schemes.Examples of two variants of GTR are * GTR-100/10: Group Term Life with 100% Premium Refund after 10 years * GTR-50/10 : Group Term Life with 50% Premium Refund after 10 years Salient features of the Basic Schemes: Group Term Life (GT) * Insurance coverage worldwide round the clock * Contract, Initially for three years and is Renewable * Simple Claim procedure * Prompt claim settlement upon death of an insured * Option to alter sum assured at any time * Exclusion & Inclusion of members under coverage at any time * Premium Rate- comparatively lowest among the basic schemes * Option for supplementary covers to enhance benefit * Profit Sharing options for large groups Group Term Life Insurance with Premium Refund (GTR) Insurance coverage worldwide round the clock * Contract, initially for ten/fifteen years * Simple Claim procedure * Prompt claim settlement upon death of an insured * Exclusion & Inclusion of members under coverage at any time * Reasonable Premium Rate, but h igher than GT Scheme * Refund of basic premium (full/partial) on completion of term or retirement * Payment of Surrender Value in case of Policy discontinuation & exclusion * Conversion Privilege to take Individual Life Insurance Policy in lieu * Option for supplementary covers to enhance benefit Group Endowment Life Insurance (GEN) * Insurance coverage worldwide round the clock Continuous Contract, unless terminated by either party * Simple Claim procedure * Prompt claim settlement upon death of an insured * Exclusion & Inclusion of members under coverage at any time * Premium rate-age dependant and variable * Payment of sum assured as per contract on retirement * Payment of Surrender Value in case of discontinuation * Conversion Privilege to take Individual Life Insurance Policy in lieu * Option for supplementary covers to enhance benefit Group Pension Scheme * Provides for quarterly/yearly pension based on last salary * Continuous Contract, unless terminated by either party * Sco pe for taking â€Å"Death in Service† benefit Scope of taking â€Å"Joint life last survivor pension† benefit * Scope for life pension with/without guaranteed payment period * Exclusion & Inclusion of members under coverage at any time * Premium rate- age dependant and variable * Payment of Surrender Value in case of discontinuation * Option for supplementary covers to enhance benefit | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Features&Benefits| Basic Schemes| | Group Term Life (GT)| Group Term Life with Premium Refund (GTR)| Group Endowment Scheme(GEN)| Age Limit for   Insurance Coverage| 18 years to 60 Years| 18 years to 60 Years| 18 yrs. to the age of  retirement (max. 60 yrs)| Duration of   Contract| 3 years in each spell| 10 years or 15 years in each spell| Continuous Contract, if not terminated| Scope for Inclusion & Exclusion| Yes| Yes| Yes|Scope for Inclusion& Exclusion| Yes| Yes| Yes| Scope for  Alteration of Sum Assured| Yes| Yes| Yes| Premium Rate| Single & Fixed (irrespective of age Low}| Single & Fixed (irrespective of age)| Variable; age dependant  premium rate| Benefits:| Death (payment of  Insured amount on death)| Yes| Yes| Yes| Maturity Benefit| None| None| Payment of Sum Assured as  per contract during retirement| Premium Refund| None| Refund of Premium as per contract on retirement or completion of term. Payment of surrender value in case of non completion of term| None| Profit Share| Provided to large groups only| None| None| On Payment of Additional Premium 1.Accidental Death Benefit (ADB) 2. Permanent Total Disability (PTD) 3. Permanent Partial Disability (PPT) 4. Dismemberment Benefit (DB) 5. Major Disease Benefit (MDB)| All or any one of those may be taken except DB which is offered only with ADB| All or any one of those may be taken except DB which is offered only with ADB| All or any one of those may be taken except DB which is offered only with ADB| | | | | S upplementary Covers: To provide insurance protection against few devastating conditions other than death, and to enhance insurance benefit in case of sudden accidental death, several Supplementary Covers are offered along with basic schemes.Supplementary covers include: * Accidental Death Benefit (ADB): Provides for double sum assured in case of accidental death. * Permanent and Total Disability Benefit (PTD): Provides for full sum assured on happening of defined risks. * Permanent & Partial Disability Benefit (PPD): Provides for certain percentage of the sum assured as per schedule on happening of the defined risks. * Dismemberment Benefit (DB): Provides for a certain percentage of Sum Assured as per schedule on happening of the defined risks. It is only offered with ADB. * Major Disease Benefit (MDB): Provides for 25% or 50% of S. A. upon diagnosis of a few specific life threatening diseases 4. 3. Exclusive Schemes: These are schemes, especially designed for financial institutions , in order to secure their investment and adorn the product to make it attractive to customers as well as to protect interest of the client. Few examples are: * Home Loan Insurance: e. g; Scheme for â€Å"Home Loan Borrowers† of Delta Brac Housing * Depositor's Insurance: e. g; Scheme for â€Å"Smart Plant† Depositors of Dhaka Bank Ltd Premium: For traditional schemes: Premiums are usually payable annually in advance before commencement of insurance. For exclusive schemes: A single premium is payable for the whole period of coverage before commencement of insurance. *Details about the schemes are provided with â€Å"Insurance Proposal† How to get a Group Life Insurance Proposal? For Proposal: fill in the Proposal Request Form and send it to us at our contract address For Quotation: fill in the â€Å"Proposal Request Form† and send it to us at our contract address accompanied by the list of members to be insured with following details | | | | | |    Sl#| Name| Designation| Date of Birth| Sum Assured| | | | | | |   |   |   | *If sum assured depends on salary, mention salary and desired multiple to determine Sum Assured Claims are settled to the concerned organization. 4. 4: Health Insurance Health Insurance Health Insurance is now considered indispensable in developed countries.In the present financial-social perspective of Bangladesh as well, Health Insurance has now become an essential, dependable, acceptable and the most cost effective means to make the modern treatment facilities affordable to all socio-economic classes of people, especially the fixed income group. As a pioneer of Health Insurance in Bangladesh, Delta Life Insurance Company offers several Health Insurance Schemes, which are as follows: 4. 4. 1: Hospitalization (In-patient) treatment coverage plans * Hospitalization Insurance Plan (Group)- offered to Members of a group and their dependants (if desired) * Hospitalization Insurance Plan (Individual) – offered to an Individual as well as his or her dependant family members also known as â€Å"DeltaCare Hospitalization Plan†. 4. 4. : Out-patient treatment coverage plans * Out-patient Insurance Plan – Offered as an adjunct to Group Hospitalization * Out-patient Management Plan – Offered as an adjunct to Group Hospitalization 4. 4. 3: Overseas treatment coverage plan for travelers * Overseas Medicliam Policy (OMP) – A pre-requisite for visa application offered only to Individuals traveling abroad. 4. 4. 4: Hospitalization Insurance Plans * Covers in-patient (Hospitalization) treatment expenses of an insured member Expenses Covered under Hospitalization Insurance Plans * Hospital Accommodation * Consultation Fee * Medicine ; Accessories * Medical Investigations * Surgical Operation Ancillary Services like Blood Transfusion, Ambulance Service, Dressing etc. General Features of the Scheme * No need for preliminary Medical Examination during enrolment. * Treat ment coverage round the clock inclusive of Accidents and Emergencies. * Coverage offered to Bangladeshi National as well as resident foreigner. * Treatment at any renowned hospital or clinic by consultant of own choice. * Preferential service at Designated Hospital. * Direct payment of treatment expenses by the company at Designated Hospital. * Reimbursement of expenses for treatment at non-designated hospital. * Membership ID Card for each insured to facilitate preferential services. Option for Maternity Benefit and Overseas Treatment coverage. * Provision for inclusion of Spouse ; Children under the plan. * Provision for inclusion of new member under the plan. * Coverage up to 65 years under Group HI ; 60 years under Individual HI plan. * Two types of plans with several benefit grades to choose from. * Option to choose more than one grade according to status of the members of a group. * Option to alter benefit grade during renewal. Exclusion from Coverage: Major Exclusions include * Congenital infirmity * Pre-existing condition for certain period * Psychiatric disorders and narcotic addiction * Attempted suicide and self-inflicted injury * Dental Treatment Pre or post hospitalization expenses and out patient treatment expenses * War risk, civil commotion or violence * Routine health checkup * Treatment for family planning purpose, contraception and infertility 4. 4. 5: Group Hospitalization Insurance Plans Types of plan offered: Standard Plan: Distinctive Hospitalization Insurance Plan of Delta Life Customized Plan: Tailored to the need and desire of the client. Standard Plan: Five Grades of benefits are offered under standard plan to choose from Benefit per Hospitalization| Benefit Grades| Mastercare| Supercare| Deluxcare| Exclusivecare| Royalcare| Max. Benefit (Each Insured Per Year)| Tk. 25,000| Tk. 45,000| Tk. 5,000| Tk. 100,000| Tk. 140,000| Hospital Stay (Maximum days)| 10| 12| 15| 18| 20| Room Rent (Actual Expenditure upto a Maximum Amount Per Day)| T k. 500| Tk. 1,000| Tk. 1,500| Tk. 1,800| Tk. 2,000| Consultation Fee (Actual Fee upto a Maximum Amount Per Visit ; One Visit Daily)| Tk. 300| Tk. 500| Tk. 500| Tk. 500| Tk. 500| Routine Investigations (Actual Expenditure upto a Maximum Amount)| Tk. 1,000| Tk. 1,200| Tk. 1,400| Tk. 1,600| Tk. 2,000| Medicines ; Accessories (Actual Expenditure upto a Maximum Amount)| In Case of Surgical Treatment| Tk. 2,000| Tk. 4,000| Tk. 6,000| Tk. 8,000| Tk. 10,000| In Case of Conservative Treatment| Tk. ,000| Tk. 10,000| Tk. 12,500| Tk. 15,000| Tk. 18,000| Surgery (Actual Expenditure upto a Maximum Amount)| Major Intermediate| Tk. 12,000| Tk. 14,000| Tk. 16,000| Tk. 20,000| Tk. 22,000| Charges included for Surgeon, Assistant, Operation Theater ; Anaesthesia| Tk. 6,000| Tk. 8,000| Tk. 10,000| Tk. 12,000| Tk. 15,000| Ancillary Services (80% of Actual Expenditure upto a Maximum Amount)| Tk. 2,000| Tk. 5,000| Tk. 8,000| Tk. 10,000| Tk. 12,000| Premium (For each insured per year) based on Age Attained (in Years) Benefit Grades| Master care| Super care| Delux care| Exclusive care| Royal care| 18 to 35 Years| Employee| Tk. 600| Tk. 1,080| Tk. ,535| Tk. 1,920| Tk. 3,360| Spouse| Tk. 510| Tk. 920| Tk. 1,310| Tk. 1,630| Tk. 2,855| 35+ to 45 Years| Employee| Tk. 750| Tk. 1,350| Tk. 1,795| Tk. 2,160| Tk. 3,780| Spouse| Tk. 635| Tk. 1,145| Tk. 1,520| Tk. 1,835| Tk. 3,210| 45+ to 50 Years| Employee| Tk. 1,050| Tk. 1,890| Tk. 2,300| Tk. 2,640| Tk. 4,620| Spouse| Tk. 895| Tk. 1,605| Tk. 1,955| Tk. 2,245| Tk. 3,930| 50+ to 55 Years| Employee| Tk. 1,500| Tk. 2,700| Tk. 3,060| Tk. 3,360| Tk. 5,880| Spouse| Tk. 1,275| Tk. 2,295| Tk. 2,605| Tk. 2,855| Tk. 4,995| 55+ to 60 Years| Employee| Tk. 2,100| Tk. 3,780| Tk. 4,075| Tk. 4,320| Tk. 7,560| Spouse| Tk. 1,785| Tk. 3,215| Tk. 3,420| Tk. ,670| Tk. 6,425| 60+ to 65 Years| Employee| Tk. 3,150| Tk. 5,670| Tk. 6,113| Tk. 6,480| Tk. 11,340| Spouse| Tk. 2,678| Tk. 4,823| Tk. 5,130| Tk. 5,505| Tk. 9,683| Each Child (Below 25 Years)| Tk. 510| Tk. 920| Tk . 1,310| Tk. 1,630| Tk. 2,855| Maternity Benefit (Maximum Amount as per Benefit Schedule above) Benefit Grades| Mastercare| Supercare| Deluxcare| Exclusivecare| Royalcare| Normal Delivery| Tk. 5,000| Tk. 7,500| Tk. 10,000| Tk. 12,500| Tk. 15,000| Caesarian Delivery| Tk. 10,000| Tk. 15,000| Tk. 20,000| Tk. 25,000| Tk. 30,000| For Maternity Benefit, an Extra Premium @40% shall be charged on the Basic Premium of the beneficiary groupGroup Discount Schedule| Size of Group| Size of Group| Uo to 100| Uo to 100| 101 – 500| 101 – 500| 501 – 1000| 501 – 1000| 1001 – 2000| 1001 – 2000| 2001 ; Above| 2001 ; Above| No Claim Discount Schedule| No Claim Years| Discount on Renewal Premium| One Year| 10%| Two Consecutive Years| 20%| Three Consecutive Years| 30%| | | | | | | | | | | | | VAT if imposed by government, shall have to be paid by the organization concerned. N. B. For large groups a â€Å"fixed premium rate† irrespective of the age is offere d upon recieving the list of members to be insured. Customized Plan Benefit Schedule ; Premium Rate * Benefits desired has to be provided by the client A â€Å"fixed premium rate† irrespective of age is offered on receipt of the list of members to be insured. How to get a Group Hospitalization Insurance Proposal? * For Proposal: Fill in the â€Å"Proposal Request Form† and send it to our contact address.. * For Quatation: Fill in the â€Å"Proposal Request Form† and send it to our contact address accompanied by the list of members to be insured with following details. Sl#| Name| Date of Birth| *Status| Benefit Grade| | | | | | *Status means rank of an employee or his relationship with dependant (spouse/children) Individual Hospitalization Insurance Plan * Bengali Leaflet * Proposal Form Overseas Mediclaim Policy (OMP)This is a distinctive Health Insurance Policy issued to travelers only. It is also a pre-requisite for Visa application of developed countries. The Policy is issued to Bangladeshi Nationals and Foreigners resident in Bangladesh Overseas Mediclaim Policy issued by Delta Life is universally accepted by all foreign Embassies and High Commissions in Bangladesh. Types of Policy * Plan A: For visiting any Country of the World (except USA ; Canada) * Plan B: For visiting all Countries of the World Coverage under both Plan A ; Plan B exceeds â‚ ¬30,000 EURO Key Features of the Policy * Age Limit : Policy issued to Individuals from the age of 6 months to 65 years. Nationality: Policy issued to Bangladeshi and Foreigner Resident in Bangladesh * Covered Expenses: Treatment expenses incurred for sudden and unexpected illness or accident while on tour abroad. * Maximum Benefit: * Plan A: US $50,000 (Fifty Thousand US Dollar) * Plan B: US $100,000 (One Hundred Thousand US Dollar) How to take out an â€Å"Overseas Mediclaim Policy† * Fill in a â€Å"Proposal Form†. * Attach photocopy of the first five pages of the passport * Enclose required amount of premium in cash as per â€Å"Premium Rate Chart†. Send those these to Health Insurance Department at the Head office of Delta Life *Physical presence or Photograph of proposer is not required. *it takes only about 30 minutes to get an Overseas Mediclaim Policy. â€Å"Proposal Form† is also available at Head Office and Agency Offices of Delta Life Insurance Co. Ltd. d

Word Choice Inalienable vs. Unalienable (An Independence Day Special)

Word Choice Inalienable vs. Unalienable (An Independence Day Special) Word Choice: Inalienable vs. Unalienable (An Independence Day Special) Happy Independence Day! To celebrate, we’re looking at a controversy related to the founding of the United States: the word â€Å"unalienable,† which appears in the Declaration of Independence. This isn’t a spelling we really use anymore, though, with â€Å"inalienable† much more common. We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. So what is the difference between these terms? Why does the Declaration of Independence use â€Å"unalienable†? And when should you use each spelling? The Meaning of Inalienable and Unalienable First, let’s look at the difference in meaning between these words There isn’t one. Nada. Zilch. No difference at all. â€Å"Inalienable† and â€Å"unalienable† both mean â€Å"can’t be taken away.† So whether we speak of â€Å"inalienable rights† or â€Å"unalienable rights,† we mean rights that can’t be denied. In practice, then, the only difference is that â€Å"inalienable† is now much more common. Different Drafts, Different Spellings So, why does the Declaration of Independence use â€Å"unalienable†? Spelling variants were common at the time, and â€Å"unalienable† was the most common version of this term at the time. It also enjoyed a spike in popularity after the Declaration of Independence was signed. But since the mid-nineteenth century, â€Å"inalienable† has been the standard spelling. Unalienable vs. Inalienable Oddly, though, this controversy could have been avoided. This is because the spelling â€Å"inalienable† appears in other drafts of the Declaration of Independence, including Thomas Jefferson’s original draft. It was only when John Adams made a copy in his own handwriting that â€Å"unalienable† first appeared. And it was used in the final version, kick-starting a spelling debate that survives to the current day. A Tale of Two Prefixes: Un- vs. In- Why, then, has â€Å"inalienable† won out? In terms of meaning, the prefixes un- and in- are both negations. As such, they go before a word to cancel it out or suggest its opposite. The opposite of â€Å"happy,† for example, is â€Å"unhappy.† And the opposite of â€Å"elegant† is â€Å"inelegant.† The same is true with unalienable and inalienable. But the word â€Å"alien† comes to us from Latin. And while the prefix in- also has Latin roots, un- comes from German. Nineteenth-century linguists therefore decided than in- was the better prefix for â€Å"alienable.† And since then it has stuck. Or it has in most circumstances. Even these days, when people are writing about the Declaration of Independence, many prefer the spelling â€Å"unalienable.† So this mixture of a German prefix and a Latin word stem has a place in American English even today. Summary: Inalienable or Unalienable? As set out above, both of these words mean â€Å"can’t be taken away.† However, each spelling has its own place in modern English: Inalienable is the standard spelling of this term in most contexts. Unalienable is a rare variant of â€Å"inalienable,† but you can use it when quoting from or discussing the Declaration of Independence. Hopefully, this has settled some of your Independence Day spelling questions. But if you need any more help with your writing, feel free to send us a document for proofreading today.

Analysis of Fuzzy Logic

Analysis of Fuzzy Logic This was a paper on Fuzzy Logic I wrote for my Programming in C++ Intro class, I dont think it is very good myself. You could probably use it in a intro to computers class, or some kind of high school programming class. I have no idea what I got on the paper, I dont have the graded copy any more. This would be a great paper to use as a starting point. Hope this saves you some time and effort. Fuzzy Logic What is fuzzy logic? How does it differ from conventional logic? Who discovered fuzzy logic? How can it be used today? How is it being used, and by whom? These questions are questions I will attempt to answer in this brief discussion of fuzzy logic, so let us begin. The first and most important question is What is fuzzy logic? Fuzzy logic the logic people use in day to day decisions. Instead of all items falling into one set, as in conventional logic, items can fall into multiple sets. A good example would be the big cat question. There are two sets in this problem The cat is golden, and The cat is black. A lion clearly fits into the first set The cat is golden. A Black Panther clearly fits into the second set The cat is black. But what about a jaguar, it has a golden coat with black spots, it does not clearly fit into any one of the sets, so it a part of both. The main difference between fuzzy logic, and conventional logic is this. Conventional logic holds that something cannot be a mender of two sets. Fuzzy logic holds that things can be a part of multiple sets. The term fuzzy logic was brought forth in 1965 by a professor at the University of Berkeley, named Lofti A. Zadeh. Zadeh wondered why it was that people can base decisions on imprecise, non-numerical information, yet they are better at making complex decisions that machines. These ideas were presented to the world in 1973, in his paper titles Transactions on Systems, Man and Cybernetics. In this paper Zadeh introduced the idea of a linguistic variable, and a fuzzy IF-THEN rule. The concepts introduced in this paper paved the way for real world applications. Now a days fuzzy logic is being used in many different fields, and in many different ways. Some fuzzy-based consumer products include camcorders, washing machines, color TVs, and fuzzy computer chips. Unfortunately the US has been very slow to use this new type of logic. All of the products listed above were created by Japanese companies. Part of the reason US companies were so slow to utilize this new type of logic my stem from cultural differences between the eastern, and western ways of thinking. In conclusion fuzzy logic has many applications that havent even been explored yet, and in some applications it is better than conventional logic.

Thirty to fifty of SCHOLARLY journal articles Business Problem in Essay

Thirty to fifty of SCHOLARLY journal articles Business Problem in Rosenbluth international - Essay Example As stated by Clemons and Hann (1999), companies which are successful find it difficult to change their policies in accordance to the changing business environment. This notion identifies and sheds light on the difficulty and complexity that is associated with the implementation of an effective change management strategy and reorganization of business operations. In the case of Rosenbluth International, this required alteration in company operations has been prompted by the prospects of disintermediation that the organization currently faces, which in turn have been triggered by the continuation of a significant period in the industry of travel brokerage that is essentially marked by a major restructuring of the entire industry (Clemons and Hann, 1999). According to Clemons and Hann (1999), the drastic changes that are being experienced by the travel industry can be associated with dynamics of the competitive environment. ... dustry by analysts highlights the alarming situation for travel agents as hotel chains and airlines intend to raise the scope of their revenue generation by launching electronic distribution systems. Furthermore, Carroll and Siguaw (2003) claim that the popularity of internet-based room reservation has allowed hotel owners to gain complete control over various methods of distribution which is threatening to the wellbeing of Rosenbluth International. Another challenge faced by Rosenbluth is not only rooted in external competitive pressures that are posed by other travel agents but is also caused by the commission cuts which have been introduced by hotels and rental companies thereby, prompting the organization to raise its charges by $10 to $15 (McCubbrey, 1999) to soothe the incurrence of unexpected expenditures. An examination of the case suggests that the challenges being faced by Rosenbluth are largely based on an increase in expenses and a decrease in the revenues being generated by the firm due to the introduction of electronic distribution systems by major travel-based businesses and a reduction in commission caps that are being earned by competing organizations. However, once the case is viewed from a varying perspective it can be comprehended that the issues which Rosenbluth is currently experiencing are also a consequence of the widespread availability of substitute services such as bargain prices and the incorporation of effective and pioneering business models such as reverse auction and auction. Discussion Given the present scenario and the challenges posed by the competitive environment in which Rosenbluth International operates, it would seem most appropriate to install an online reservation system to equip the organization with the technological tools

American History Research Paper Example | Topics and Well Written Essays - 750 words

American History - Research Paper Example Another disagreement was on the subject of the size of the new nation. The federalists claimed that it was both probable and desirable-to-desirable to set up a republican style of government in a large territory. James Madison a member of federalist party claimed that the freedom, and the rights of people would be more safe in an â€Å"extended republic† that is an area that covers a large geographical area in addition to people with diverse interests, taste and opinions (Morton, 2006). According to Madison in such a republic, it would be hard for a majority faction to exist and oppress the unpopular minorities. The anti-federalists opposed by claiming that a true republic is required to be small to permit citizens to participate directly in their government. They refused the federalists’ suggestion for an extended republic and a national government that would be ultimate within the boundaries put by the constitution. They claimed that this would permit the government t o accrue more and more power therefore chances of threatening public liberty would be high. In the end, the opposing sides were able to come up with a concession; the current constitution has both federalists and anti-federalists opinions and principles (Morton, 2006). Most of the cases, the differences separating the anti-federalist and federalists mostly resulted from degree rather than principle. Describe and analyze the wartime experiences of the Revolution and the effects on women, salves and natives. The wartime experiences made a number of changes to the roles of women. Before the war, women were regarded as housekeepers and mothers, but during the war, women were left to be the head of their families as their men went to war. The women could use creativity and talents to come up with ways of survival. Even after the war, revolution had taken place and many women embraced the new roles and were involved in farming, businesses and taking care of their homes (Berkin, 2010). Man y slaves were freed during the revolution. A number of African Americans opted to serve the Britons in the hopes of getting freedom and chose to live with them in the end. Majority of the slaves chose to move to British, West Indies and others moved to Canada and Africa. The natives were also affected by the post war revolutionary period. Ever since the separation line was dissolved white settlers started to deluge what had in the past been known Native American territory. This resulted to disputes and strife with groups for instance, â€Å"the Cherokees of the Appalachian Mountains and the Shawnees of Ohio† (Berkin, 2010). The revolution was considered vicious towards the Native American population as a whole. Slaves filled many roles within the slave system. Compare and contrast the roles played and lives led by field workers, the house servant and the artisan. Did any of the three fare better that the others under the slave system? Why or why not? The main difference betwe en field workers, and artisans was in the role they played within their work jurisdiction. Artisans worked near the slave master’s house and they got to interact with the master. House servants were not many in number and most of the times they developed a close relationship with the master of the house. House

H.W Essay Example | Topics and Well Written Essays - 500 words - 4

H.W - Essay Example In other words, several countries have benefited from the trade in various ways. To begin with, the goods that are imported may be of lower prices than those produced domestically. Besides, the imported goods often offer advantages other than lower prices such as better quality or design, higher status and technical features among other reasons. In respect to this, the paper focuses on the countries that have capitalized on international trade and the effects that it has had on their economic growth. The participation of the Far East countries in international trade is remarkable. Evidently, countries such as China, Japan and Korea are developing and expanding at a very fast rate. The fast expansion and development is attributed to international trade. It is worth noting that, since the initiation of economic reforms and the adoption of the open door policy, international trade has resulted in the dramatic growth of a number of countries, China being one of them. The integration of China as a country into the global economy has been attributed to its sustained economic growth in the recent years. It has become a darling to several countries in Europe and in Africa due to its investment programs and the visions it has as a country. The exportation and importation of goods ensured that some of the industries in China had comparative advantages in terms of the level of specialization (Reuvid & Sherlock, 2011). Additionally, international trade has helped achieve a high growth rate of GDP in China, as well as an enormous inflow of hard currency and a dramatic increase in the employment opportunities that have absorbed the high population. Just like the neighbouring countries such as Japan, China’s participation in international trade has also contributed to the improvement in productivity of domestic industries and

Models of Lesson Planning for Mathematics

Models of Lesson Planning for Mathematics Introduction Planning the word it contains more weightage as compared to any other word. We can only achieve any target often a proper planning strategy. In planning what is target to achieve is our goal with the available resources. Planning also plays an important role in teaching-learning process. While, doing a proper planning in teaching the class environment got relaxed, teacher enjoys the teaching because the atmosphere as well the situations are properly arranged. By doing an intelligent planning a teacher avoids frustrations. Classroom transactions are also got smooth by using the strategies in a proper manner. Planning for Instructional Process Need for Planning Teaching occupies the central core of your life as a teacher. The teaching includes instruction in classroom tutorials, laboratory, workshops, and excursions, etc. Where teaching is not just an activity to transfer the education to the student but it involves modification in the behavior of the student. While planning, teacher must keep in mind the emphasis may be given to equal Weightage to all the content, not that one should given more focus and other is ignored completely. Presentation of material in a logical, systematic, and effective way The planning must cover the adequate coverage of subject matter The objective may be achieved in the given time The time factor and effort must be low and relevant The strategies must involve maximum development of child in minimum resources Advantages of Planning Planning means systematic organization of subject matter, better utilization and proper presentation of the resource: It fosters self-confidence and pride in our work The aids are properly explained and used by teacher Planning for one subject helps in integrating with other subjects A wide development in thinking about teaching is helpful to bring an order of teaching. Strategies for Planning Systematic planning of teaching work requires systematic organization of time in the institution. This could be done on long term and short term basis. Long term Planning: Long term planning may be termed as academic work planning that is it for a whole which is to come yet. List of holidays for schools including restricted, gazettes etc. As well as the different program to be organize by the school in the coming year that is activities to be organized as per the festivals as well as the tour and trips for the students. All teachers are allotted with their concerned subjects to be taught by them for the whole year, so that teachers may frame out their plan according to their need. Such plan give a ordered and fresh look to teaching learning practice in school as it was organized at the beginning. Teachers also plan theory courses as well as for practical activities, projects, and science exhibitions etc. Now we can say that a yearly plan is based on course purpose, course concepts, units, lessons, and evaluation items. Short term Planning: There are the specific activities which are planned by teacher for making their teaching effective which includes framing the lesson plan, use of teaching aid, in between so that the time may be utilized properly while delivering the lesson. Deciding the time limit, appropriate examples, real life incidence, use of appropriate aid all are included in it. Designs of Lesson Planning Defining a Lesson The term lesson is described in many ways by different educationists or teachers. A teacher takes teaching as a job to cover syllabus in the classroom; every class has 6-7 periods in a day (in general, a period runs over 35-40 minutes). A lesson is defined as a blueprint, a guide map, a plan for action. Lesson is a sequencing of teaching acts or events or episode in organized manner to generate a learning environment for our students. The lesson contains topics and sub-topic with necessary contents to be taught to the students in the classroom. Definitions N.L.Bossing in his book â€Å"Teaching in Secondary Schools† proposes the following definition of a lesson plan: â€Å"Lesson plan is the title given to a statement of all achievements to be realized and specific means by which these are to be attained as a result of the activities engaged day to day under the guidance of the teacher.† The Dictionary of Education defines a lesson plan as a teaching outline of the important points of a lesson arranged in the order in which they are to be presented; it may include objectives, questions to be asked, references to materials, evaluation, assignments, etc. Now you must be clear in mind that lesson planning is a product of short term or micro level planning involving: Identification of definite objectives, Selection of appropriate content and activities, Selection of procedures and methods for presentation of the content, Selection of evaluation exercises and Selection of follow up activities, etc. Approaches to Lesson Planning Generally various approaches are used to make a lesson plan. These approaches are Herbartian approach, Unit approach, Evaluation approach, and Project approach. A brief description is provided:- Herbartian Approach is based on apperceptive mass theory of learning. All the knowledge and information is to be given from outside by the teacher because the student is considered similar to a clean slate. For the students, if an old knowledge makes a base for new knowledge (his previous knowledge or experiences), it may be acquired easily and retained for a longer period. Herbart has given five steps:- Introduction, Presentation, Organistation, Comparison, and evaluation. The main focus is on content presentation. Unit Approach of Morrison is based on unit transaction and planning. The Morrison’s lesson plan of teaching is cyclic; Morrison has given five steps for his ‘cyclephase’ of teaching:- Exploration, Presentation, Assimilation, Organisation, and Recitation. Evaluation Approach of B.S. Bloom in evaluation approach, education is objective centered not content centered. The focus in this approach is on objective based teaching and testing. It takes into consideration the learning objectives and teaching methods on the basis of the objectives and to assess learning outcomes. Then, a decision can be taken about objectives of learning are achieved or need to provide the revision. Project approach originated by Dewey and W.H.Kilpatrick stresses on group activity, social activity, self activity, and related to real life experiences. It is a pre-planned work completed by a person or group in social condition. Due to many reasons, it is not necessary that a lesson plan made by a teacher will be successful at every place and time. Many factors influence lesson planning such as Availability of teaching aids, Strength of students in the Class. Composition of the Class (Age wise). School Location (Area wise) The nature of the topic (Medium wise) etc. The list is not enough, few other factors from own experiences can be added. Writing a lesson Plan: Many written lesson plans are used by practicing teachers. A teacher needs some information about the class, students and their background before to attempt the lesson plan. In general, a Macro Lesson plan is divided into many stages/steps. We had introduced the approaches of lesson planning. Now, one can write a macro lesson plan based on different approaches. HERBARTIAN APPROACH The steps are given below: General information: regarding the topic, sub-topic, subject, time, class, and age level of children. Instructional Objectives (General Objectives and Specific Objectives): We know that at different grade levels, all subjects have general objectives, and specific objectives are written in behavioural terms. Specific Objectives focuses on the expected outcomes of teaching and the topic in a given time period. These specific objectives also known as instructional objectives, which are observable and measurable. It is required to identify the behavioural objectives and state these objectives in a clear and simple language. Instructional Aids: The development of a new lesson plan is based on the standard and knowledge of students. Instructional are used by the teacher to make understand the chapter or topic easily. One picture delivers the message of thousand words. Teacher assumes that the previous knowledge of students related to the content can test and teaching will become easy through aids. Introduction: in this step topic is introduced mainly through introductory questions or by creating the appropriate situations. New knowledge or information of students is linked with their previous knowledge by assuming and testing. Presentation: In presentation the ways of relevant content is presented. A teacher develops the lesson Plan by asking many questions and receiving responses presented by the students’. Students’ response helps the teacher for further presentation of the content. The presentation stage is interactive in the real classroom situation. It depends on teachers’ communication and teaching skills like questioning, explaining, giving demonstration and providing reinforcement on desirable student behaviour. Recapitulation: This step helps the teacher to find out the extent of learning that occurs during instruction. The teacher does this by asking several questions. This stage provides feedback to the teacher about the teaching learning process. Blackboard summary: In the classroom during the instruction, the board is used by the teacher to write the teaching points, summary and explanations. Board is used simultaneously when lesson is being delivered in the classroom. Home Assignment: At last, in the end of the teaching session, thought provoking, suitable questions or activities must be planned and given to the students. It gives a chance of revision or practice to the students. Home assignment also gives an opportunity to students to assimilate, whatever they have learned. 3. EVALUATION APPROACH The design of lesson plan according to this approach consists of three aspects: Input, Process and Output. Input: It contains the identification of objectives in behavioral terms. These are known as Expected Behavioural Outcomes (EBOs). During this the entering behavior of the learners is also identified. With the help of instructional objectives, the sequence of instructional procedure is determined. These objectives are classified into four categories: Knowledge, Understanding, Application and Creativity. These objectives can be transformed in behavioural terms. Process: This is an interactive stage when teacher actually communicating with students in the classroom. For effective presentation of the content, teacher has to choose different teaching strategies, audio-visual, and all support materials. Output: This aspect of instructional procedure refers to real learning outcomes (RLOs). This is equivalent to terminal behaviour which is measured by using oral and written questions. This aspect is considered for measuring of the desirable change in behaviour of students. Illustration of Lesson Plan Format of Presentation: Effective teaching needs proper planning, transaction in the classroom and feedback. Practically there are three stages of a planned lesson: Pre-active, Interactive, and Post- Active. Pre-active stage is a stage of planning before going to the classroom. The Interactive stage is a stage of interaction between teacher and students in the real classroom situation. Post active stage is a stage of self evaluation of our teaching work. There is not be a single format for writing a lesson plan because it varies from teacher to teacher and subject to subject, the only thing which can be suggested is that it should be a well-organised structure, it follows basic fundamental parts of a lesson. Some of the formats based on different approaches to lesson planning. Teachers’ are free to make changes according to the objectives you plan to achieve and the nature of the subject etc. (i) Herbartian Lesson Plan Format Subject: Date: Unit: School: Topic: Class: Duration: Period: General Objectives: Specific Objectives: Teaching Aids: Method: Previous Knowledge: Introduction: Statement of the Topic/Aim: Presentation or Development of the Lesson: OR Recapitulation: Black Board Summary: Home Assignment: Reference: Note: Order of S. No. 1 to 5 may be changed according to your needs. In presentation/development objectives, teaching-learning activities and evaluation are in relation to particular teaching point/content. If evaluation of students learning is done for each teaching act/episode, then you may ignore recapitulation at the fag end of the lesson. Black board summary should be developed as the lesson progresses. ii) Blooms or Evaluation Lesson Plan Format Subject: Date: Unit: School: Lesson: Class: Duration: Specific Objectives: Previous Knowledge: Introduction: Statement of the Topic/Aim: Presentation: 6) Evaluation: 7) Home Work: 8) References: Note The objectives are to be written in behavioural terms. The teaching activities are to be related to the learning structures. Black Board Summary should be developed as the lesson progresses. iii) RCEM Lesson Plan Format Date: Subject: School: Unit: Class: Topic/Lesson: Duration: Concepts : Teaching Aids : Previous Knowledge : Introduction: Statement of the Aim/Topic : Presentation: Black Board Summary: Home Assignment: References: Note RCEM is Regional College of Education, Mysore. Concepts are to be identified through content analysis. Black Board Summary to be developed as the lesson progresses. Characteristics of Lesson Plan You may plan your lesson based on any format discussed above, but a good lesson plan must have following characteristics: It must be flexible; Its contents are organized in the light of attainable objectives; It is rich with respect to students activities and evaluation exercises; It has link with the previous and future lesson; It includes relevant home assignment and activities for students.