Risk Management and Insurance Planning
This course provides a comprehensive examination of the general principles of risk management and insurance planning for individual and family clients. These topics constitute approximately seventeen percent of the principal knowledge topics tested on the CFP® Certification Examination. The course first introduces students to the risk management and insurance planning process and working with clients to analyze and evaluate risk exposures. Second, the core insurance lines of coverage are explored in detail, including: health, disability, long-term care, life, and personal property and casualty (homeowners’, personal auto policy, etc.). In addition, the student will learn to analyze an individual and family’s insurance needs, to select the most appropriate insurance policy and company, and to understand a business owner's use of insurance to protect the business’ assets and future income.
Course Topics
2022 CFPⓇ Board Principal Knowledge Topics and Learning Objectives
- Explain the risk management process. (C.17.a)
- Identify and measure liability, automobile, homeowners, flood, earthquake, health, disability, long-term care, and life risks. (C.18.a)
- Compare and contrast group and individual health insurance alternatives, including fee for service and managed care health plans. (C.19.a)
- Create a plan for meeting individual disability income needs. (C.20.b)
- Develop an appropriate long-term care insurance plan based on needs, financial resources, policy coverage and cost. (C.21.b)
- Compare and contrast annuities (fixed and variable) with other investment alternatives, including an analysis of costs, contract terms and taxation. (C.22.b)
- Calculate a client’s insurance needs using alternative approaches, including the capital needs, human life value, capital retention, income retention and income multiplier methods. (C.23.c)
- Recognize the complications of closely owned and/or family-owned businesses. (C.24.a)
- Perform an insurance needs analysis for a client, including disability, life, health, long-term care, property and liability. (C.25.a)
- Define and communicate key insurance policy terms, coverage, conditions and exclusions. (C.26.a)
The complete CFPⓇ Certification Learning Objectives, for this and other CFPⓇ courses, may be reviewed [HERE](https://www.cfp.net/-/media/files/cfp-board/cfp-certification/2021-practice-analysis/2021-cfp-certification-learning-objectives.pdf).
300
Disclosure
This course is delivered online through an institution of the Lower Cost Models Consortium (LCMC) that is different than your degree-granting institution that awards the academic credit for the course.
