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Unit of Study FINC2003 - Insurance and Estate Planning (2021)

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Unit Snapshot

  • Enrolment information

    N/A

Unit description

Introduces students to insurance and estate planning including an overview of the insurance industry, the legal and regulatory framework, insurance products (such as personal, general and compulsory insurance), and insurance contracts and claims. The unit also covers estate planning topics such as wills, power of attorney, trusts, estate management, and other estate planning issues. Students will engage in teacher directed activities and experiences relevant to contemporary insurance and estate planning and the provision of responsible advisory recommendations to clients.   

Unit content

Topic 1a: Insurance and Risk Management: An Introduction

Topic 1b: Insurance Law and the Regulatory Framework

Topic 2a: Insurance Products - Personal

Topic 2b: Insurance Products - General

Topic 3a: Insurance Products - Compulsory

Topic 3b: Insurance Contracts and Claims

Topic 4a: Estate Planning: An Introduction

Topic 4b: Wills

Topic 5a: Power of Attorney

Topic 5b: Trusts and Asset Protection

Topic 6a: Estate Administration and Management

Topic 6b: Other Estate Planning Issues

 

 

Availabilities

Not currently available in 2021

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

On completion of this unit, students should be able to:

demonstrate an understanding of insurance and risk management principles

demonstrate an understanding of the estate planning process (including wills, power of attorney and binding health directives, trusts and asset protection, superannuation and death benefits, and estate administration and management)

identify and explain the legal, regulatory and taxation implications of insurance, risk management and estate planning

identify types of business structures and critique the functions of business succession planning

evaluate advantages and disadvantages of insurance, risk management and estate planning strategies

determine and assess client(s) insurance, risk management and estate planning objectives

develop strategies and provide advisory recommendations on insurance, risk management and estate planning.