(a) Many people feel that purchasing insurance policy is not important until there is a burglary, lightning strike or a fire and others perils of the risk. In your opinion, how we can increase the level of awareness on the importance of insurance among the society. (15 marks)

(b) Life insurance is basically a type of insurance that pays out a certain amount of compensation to the beneficiary in the occurrence of the insureds death. Consider and compare the risk of death caused by heart attack and death caused by suicide. Discuss whether each of them fulfills the attributes of an insurable risk. (10 marks)