FSM200 - Financial Services Products

Outline information
Schools offering this subject
Last revision date May 25, 2020 12:07:19 AM
Last review date Aug 3, 2020 12:15:02 AM

Subject Title
Financial Services Products

Subject Description
This subject introduces the principles of insurance, including the insurance process and contractual rights of the policyowner. The common products and services provided by the various entities in the financial services sector are introduced. The student also becomes familiar with prospectus and contract documents. The regulatory environment is reviewed, as are the general costing and pricing methodology of insurance products. Students will be prepared to write the LOMA 280 examination upon completion of this subject.

Credit Status
FSM200 is a required subject in the Financial Services Management Degree Program and also available through the Faculty of Continuing Education and Training. Students will be prepared to write the LOMA Program FLMI 280 examination upon completion of this subject.

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

1. Relate the history and philosophy of life insurance.
2. Assess how life insurance helps people manage risk.
3. Compare the different types of life insurance products.
4. Examine and analyze the key components of a life insurance policy contract and the process for completing a claim or benefits.
5. Analyze the tax implications of life insurance products.
6. Specify the major types of managed care coverage.
7. Compare permanent life insurance and term life insurance products through an analysis of their applications.
8. Critique various types of retirement income and pension plans within the context of individual, government and employer sponsored retirement plans.
9. Explain the role of insurance in estate creation and estate conservation.
10. Compare individual and group life and health insurance processes and products.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.