Course overview
To develop an understanding of the roles of insurance in the financial planning process, and risk management in reducing the financial impact resulting from the occurrence of catastrophic events.
Course learning outcomes
- Summarise the regulatory environment surrounding insurance in Australia and assess its implications for the provision of risk management advice as part of the financial planning process.
- Compare and contrast the features of major life and general insurance products and explain differences between alternative insurance products to clients.
- Critically evaluate the role of risk assessment and use of insurance as components of the financial planning process, including the taxation implications of alternative products and strategies.
- Identify and evaluate client-specific risks and provide a critical assessment of the risk management and insurance implications for these clients.
- Develop risk management strategies appropriate to client risk profiles, including recommendations for life and general insurance products.
- Demonstrate Business Enterprise Skills in the context of the Financial Planning discipline: i) Problem Solving (advanced level); and ii) Oral Communication (advanced level).