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FPC004 Insurance Advice

The subject focuses comprehensively on the personal and business risk insurance market in Australia. It examines the design and structure of a range of personal, business and general insurance products, including related policy documentation and taxation issues. The subject is designed to build advice capability in risk management strategies for retail clients and small businesses.

Students will follow a series of fictitious scenarios, so they can apply their understanding of personal and business risk insurance within financial planning.

For more information, please refer to the subject outline.

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  • Learning outcomes

    • On successful completion of this subject, individuals should be able to:

      1. Critically analyse and evaluate personal and small business risks
      2. Describe and distinguish the features of the various types of personal and business insurance products, including related policy documentation and taxation issues
      3. Develop and implement personal and small business risk management strategies using a range of general and life insurance policies
      4. Apply financial planning practice while giving consideration to ethics and the legal and regulatory responsibilities owed by the adviser and the adviser’s organisation to the adviser’s clients and other stakeholders
      5. Evaluate contemporary issues in insurance advice
  • Subject content
    • Topic Title
      Topic 1 Introduction to risk management
      Topic 2 Insurance and risk
      Topic 3 Regulation of the insurance industry
      Topic 4 Life insurance
      Topic 5 Taxation
      Topic 6 Insurance advice
      Topic 7 General insurance
      Topic 8 Mandated and health insurance
      Topic 9 Policy documentation and claims

  • CPD

    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration

    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Prerequisites

    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge

    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FPC001B Economic and Legal Context for Financial Planning and FPC002B Ethics and Professionalism in Financial Advice, or understand the content covered in those subjects, prior to undertaking FPC004 Insurance Advice.

  • Course transition subject equivalence

    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subject:

      • FIN214 Insurance, Succession and Estate Planning.
  • Reading list

    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.