Insurance Fundamentals

Subject overview

STUDY MODE

100% online

AQF LEVEL

5

NEXT INTAKE

27 Oct 2025

SUBJECT DURATION

12 weeks

SUBJECT FEE

$720.00

This subject explores key facets of legislation and regulation of the life insurance industry, and principles and concepts of life insurance. It addresses a range of life insurance product types, including life, total and permanent disability, trauma, income protection, and business expenses. It also considers other products such as whole of life, endowment, key person, and annuities. Students will analyse the features and suitability of life insurance products for different types of clients.
Risk management principles are examined, focusing on underwriting, risk assessment, actuarial concepts, and reinsurance strategies. Sales and distribution strategies are explored, emphasising customer needs analysis and diverse distribution channels. Claims management procedures, including fraud detection and customer service are also addressed.

Legal and ethical considerations are emphasised, highlighting regulatory compliance, disclosure obligations, and professional ethics. Financial planning aspects encompass financial needs analysis, tax implications, and retirement planning integration with life insurance products.

For more information, please refer to the subject outline.

Diploma of Financial Services >

Subject information

Learning outcomes

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

Describe the evolution of the Australian life insurance industry, including its regulatory framework, ethical and compliance standards
Explain the principles and practices of risk management utilising different life insurance products
Discuss sales techniques, customer needs analysis methods, and diverse distribution channels in the marketing and distribution of life insurance products
Identify life insurance administrative processes, including insurance claims handling

Topics covered

Introduction to life insurance and insurable risk
Life insurance product types and features
Matching insurance products to life-stage risk
The life insurance sales and advice process
Claims and claims handling
Regulatory and legal framework for life insurance
Integrating life insurance into the financial planning process

Reading list

There is no prescribed text for this subject.

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

Assessments

Assessment Type	Assessed	Weighting
Quiz 1	Week 4	10%
Task	Week 7	20%
Quiz 2	Week 10	20%
Assignment	Week 12	50%

Click here for an assessment timetable.

Previous study requirements

Recognition of prior learning (RPL)

Advanced standing may be awarded in recognition of prior learning (RPL) for your prior studies that are directly related to the qualification. This may include credit for generic knowledge component of Tier 1 RG146 studies.

Get detailed guidance on the application process here.

Assumed knowledge

Not applicable.

Course transition subject equivalence

Assessment dates See assessment information

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Fees and FEE-HELP

Locked-in pricing and FEE-HELP

To safeguard against any future price increases, you can lock in the price of your subject enrolment fees for the duration of your qualification. Many eligible students use FEE-HELP, which is a Commonwealth Government loan. This means you do not need to pay to study upfront, helping you to reduce some of your financial burden . Please note that government fees apply for the use of FEE-HELP for higher education diploma subjects. Click here for further information.

Tuition fees

When you apply to study with Kaplan Professional, you pay for the subjects you have enrolled in for each study period.

The tuition fee listed below applies to all higher education subjects:

Enrolment fees	Fee
Subject fee 2025	$720 (GST free)

If you are paying by cheque, utilising a deferral, or have a preferred client code, you will need to download and submit a hard copy of the form below.

Download a new student application (enrolment) form>

Other fees

Further fees may apply. Click here for a full list of fees and allowances.

Further fees