Insurance and Estate Planning
Overview
This unit aims to discuss the legal principles that formed the basis of insurance contract and application of insurance policies to manage personal risk. Students will receive clear understanding of the concept of wealth protection and examines the applications of personal insurance and risk management. Consequently, students will learn about different types of insurance strategies, insurance products, regulations and tax implications in developing financial advice. This unit also assesses the critical role of estate planning in the creation of an effective financial plan. Students will apply risk management and estate planning knowledge to generate financial planning strategies using advice technologies.
Requisites
Rule
FIN60007 Elements of Financial Planning
OR
FIN60010 Elements of Financial Planning and Regulation
09-February-2025
05-October-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Critically analyse different types of life and general insurance products and related regulations
- Formulate insurance strategies and discuss their applications for managing clients’ risk
- Critically analyse estate planning and administration processes to address diverse clients’ needs and risks in wealth creation and asset protection
- Apply coherent and advanced knowledge of insurance and estate planning to construct a Statement of Advice and recommend strategies and products that meet client’s objectives and constraints using financial advice technologies
- Communicate proficiently and in a professional context and work effectively as a member of a team
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Unspecified Activities Independent Learning | 9.50 | 12 weeks | 114 |
| Online Lecture | 1.00 | 12 weeks | 12 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assessment | Individual | 40 - 60% | 1,2,3,4 |
| Assignment 1 | Individual | 20 - 30% | 3,4 |
| Assignment 2 | Group | 20 - 30% | 1,2,4,5 |
Content
- Introduction to risk management
- Risk management application and concept of insurance
- Insurance industry participants and regulation
- Life and business Insurance
- Health and general Insurance
- Tax implications
- Insurance products
- The estate planning process
- Instruments of estate planning
- Various ways to hold and transfer assets
- Administration of deceased estates
- Business succession planning
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.