Insurance and Estate Planning
Duration
One Semester or equivalent
Contact hours
- 36 hours
On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.
2023 teaching periods
| Swinburne Online Teaching Period 2 |
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|---|---|---|
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Prerequisites
OR
Aims and objectives
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.
3. Critically analyse estate planning and administration processes to address diverse clients’ needs and risks in wealth creation and asset protection
4. 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
5. Communicate proficiently and in a professional context and work effectively as a member of a team
Unit Learning Outcomes (ULO)
Students who successfully complete this unit will be able to:
1. Critically analyse different types of life and general insurance products and related regulations
2. Formulate insurance strategies and discuss their applications for managing clients’ risk3. Critically analyse estate planning and administration processes to address diverse clients’ needs and risks in wealth creation and asset protection
4. 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
5. Communicate proficiently and in a professional context and work effectively as a member of a team
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Online Mode: SOL
Student workload:
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
To be successful, students should:
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Scheduled hours: Classes (12 x 3 hours)
Engaging with online content and discussions
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Assessment
1. Assignment 1 (Individual) 20-30%
2. Assignment 2 (Group) 20-30%
3. Final Examination (Individual) 40-60%
2. Assignment 2 (Group) 20-30%
3. Final Examination (Individual) 40-60%
General skills outcomes
• Teamwork skills
• Problem solving skills
• Analysis skills
• Communication skills
• Ability to tackle unfamiliar problems
• Ability to work independently
• Problem solving skills
• Analysis skills
• Communication skills
• Ability to tackle unfamiliar problems
• Ability to work independently
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
• 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.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.