- One Semester or equivalent
- 36 hours
2020 teaching periods
|Teaching Period 3|
Last self enrolment:
Aims and objectives
This unit aims to provide students with the knowledge of the pervasive nature of pure risk on individuals and society. Students will learn about risk management strategies to be able to provide personal risk advice. Upon the completion of the unit students will have an overview of how insurance companies operate, how the insurance industry in Australia is structured and how insurance policies are written. Students will also learn about various types of insurance policies and the issues of cost, cover and government policies related to these insurance products.
Students who successfully complete this unit will be able to:
1. Evaluate the nature of risk, benefits of insurance and principles of risk management.
2. Apply insurance planning concepts to determine insurance needs in personal financial planning and calculate tax estimates of insurance products.
3. Evaluate and calculate the appropriate levels of insurance cover and communicate risk management strategies, in the form of Statement of Advice, to clients with integrity and compliance to the regulatory framework.
4. Evaluate different insurance policies and select appropriate techniques to treat loss exposures, which are compliant with the legal principles governing insurance contracts.
5. Work effectively in diverse teams.