PFP 450 - Insurance and Risk Management

• Explain the risk management process
• Compare and contrast the primary risk management techniques available to clients
• Explain how insurers use risk pooling to pay for losses incurred by policyholders
• Distinguish among the factors that affect policyholder premiums
• Differentiate between group and individual health insurance alternatives, including fee for service and managed care plans.
• Describe alternatives for acquiring health coverage including COBRA and Medicaid
• Distinguish between short-term and long-term disability plans.
• Formulate a plan for meeting individual disability income needs
• Compute the tax implications of paying for and receiving disability benefits
• Propose a long-term care insurance plan based on needs, financial resources, policy coverage, and cost
• Compare and contrast annuities (fixed and variable) with other investment alternatives.
• Assess the most appropriate life insurance coverage to match a client’s circumstances
• Estimate a client’s insurance needs using alternative approaches
• Prepare an insurance needs analysis for a case client
• Recommend appropriate insurance products, given a case client’s circumstances
• Diagram the components of property and casualty insurance
• Differentiate among the basic homeowners insurance (HO) forms and features
• Evaluate the components of automobile insurance for potential property damage or liability exposures.