Life Insurance

Life Insurance Specialist Principles and Advanced (SP2 and SA2) are key assessments for students working in the field of life insurance. For the new curriculum we have developed learning material covering changes in the life insurance environment, the products sold, the legislative and regulatory environment, risks and risk management and pricing. Key developments include for SA2 drawing on examples from different territories. In particular looking at the differences in regulation, solvency and capital requirements, and products sold in different markets.

Specialist Principles

The aim of Life Insurance Principles (SP2) is to develop a student’s ability to apply, in simple situations, the main principles of actuarial planning and control that are relevant to the provision of life insurance business.
 
It builds on material covered in earlier subjects and seeks to equip a student with the skills and broad working understanding of life insurance business to the level that may be required of a qualified actuary in a life insurance company.

Life Insurance Principles (SP2) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Past papers and examiners reports for SP2 

SP2 Syllabus for 2024 exams (PDF, 156 KB)

SP2 Syllabus for 2025 exams (PDF, 100 KB)

Life Insurance Principles (SP2) core reading

Exam format: 3 hours 20 minutes computer-based exam (Word)

Recommended study hours: 200