FIP404 - Risk Management and Estate Planning

Outline information
Schools offering this subject
Last revision date Sep 30, 2019 12:04:48 AM
Last review date Dec 2, 2019 12:15:03 AM

Subject Title
Risk Management and Estate Planning

Subject Description
This subject teaches students how to offset financial risk with the use of insurance when creating a financial plan as well as the legal requirements of insurance policies. The features and characteristics and uses of disability insurance, life insurance, health and long-term care insurance and property and liability insurance are covered in detail. This course also focuses on estate planning beginning with an overview of the planning process.

Credit Status
One credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Describe the features of disability income insurance; evaluate a policy and the providers; and discuss the tax implications of disability premiums.
  2. Describe the features of health and long-term care insurance plans.
  3. Describe the application of the risk management process to devise life insurance strategies.
  4. Describe universal life policies, segregated funds and the relationship of insurance policies to beneficiaries, taxation, and contract law.
  5. Discuss the risks of property and liability losses and how they can be managed.
  6. Apply knowledge of insurance contracts to prepare a risk management plan.
  7. Describe estate planning issues and the estate planning process.
  8. Discuss the types of family property and its division upon a family breakdown.
  9. Describe how a will can be used to control the disposition of estate assets.
  10. Discuss living wills, property interests, intestacy, and probate as they relate to estate planning.
  11. Describe the use of trusts to distribute property and income to beneficiaries.
  12. Describe the taxation of property after death and the impact of taxation on estate planning.
  13. Discuss the legal and ethical responsibilities of financial planners.

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