The position of the Life & Health (L&H) insurance in the financial services markets is in a continual state of change. Whether from the perspective of the insurance buyer, financial advisor, or insurance company, L&H financial management must consider protection products from a current and future cost and performance basis.
With particular application to the United States, the rapidly ageing population has moved insurer emphasis from protection to retirement products. This ageing process has brought to the forefront the inadequacies of mechanisms, such as Social Security and Medicare, to handle this phenomenon. This course will explore these and other aspects of our financial future in an effort to prepare L&H practitioners with economic knowledge and practical tools to address the ever evolving L&H industry.
II. Course Objective
At the conclusion of this course the student should be comfortable with the following concepts:
Individual L&H Insurance Policies
L&H Insurance Contract Evaluation
Uses of L&H Insurance in Personal and Business Planning
Government and Employee Benefits Plans
Overview of Life Insurer Management and Operations
Life & Health Insurance, Thirteenth Edition, by Kenneth Black Jr. and Harold D. Skipper Jr. Prentice Hall, 1999. ISBN: 0138912505
IV. Grading
Weekly assignments = 20%
Mid Term Exam (Chapters 1-17) = 40%
Final Exam - Non cumulative (Chapters 18-35) = 40%
A =
100-90%
B =
89-80%
C =
79-70%
D =
60-69%
F =
59% - below
Assignments must be completed on a weekly basis. Please submit weekly assignments via email by Sunday evening of each week. Late assignments will affect your grade.
The course study should take 9 weeks to complete, but must be completed within 14 weeks of an agreed starting date.
The instructor may be contacted by e-mail with any questions or concerns. If person to person conversation is necessary, the student should e-mail the instructor with a time and phone number where the student can be reached.
Academic honesty is highly valued at Canyon College. A student must present the product of his or her own original work.
V. Weekly Course Outline and Assignments
Weekly assignments will be given to the student prior to starting the course. Most assignments will consist of short answer questions which will relate to the text, personal experience, and timely issues. The chapter coverage timing is listed below. This is the optimal course time frame that works well to keep the student motivated toward completion. However, I do realize that you have chosen Canyon College because you have active professional and social lives outside of school. Exceptions to the optimal time frame must be discussed with the instructor and will be considered on a case by case basis.
The answers to the assignments should of sufficient length and content to clearly demonstrate your understanding of the subject.
Week 1
Chapters 1, 2, 4, 5, 6, 7and 8: Economic Security and the Economics of L&H Insurance, L&H Insurance Pricing Fundamentals, Introduction to L&H Insurance Products, Whole Life Polices, Universal Life Insurance Polices, Health Insurance Polices, and Annuities and Optional Benefits
Week 2
Chapters 9, 10, 11, and 12: L&H Insurance Contracts I, L&H Insurance Contracts II, Insurance Advisor and Company Evaluation, and Life Insurance Policy Evaluation
Week 3
Chapters 14, 15, 16, and 17: L&H Insurance in Personal Financial Planning, Estate Planning, Retirement Planning, and Business Planning
Week 4 MID TERM EXAM
Week 5
Chapters 18, 19, 20, 21 and 22: Group Insurance, Health Care Plans I, Health Care Plans II, Retirement Plans, and Social Insurance
Week 6
Chapters 23, 25, and 26: Life Insurance Company Organization and Management, L&H Insurance Underwriting I, and L&H Insurance Underwriting II
Week 7
Chapters 27, 28, 29, 30, and 31: L&H Insurance Actuarial Principles, Net Premium, Life Insurance Reserves and Cash Value, Gross-Premium Rate Structures and Nonguaranteed Policy Elements, and The Pricing of Health Insurance
Week 8
Chapters 32, 33, and 35: Life Insurance Financial Management I, Life Insurance Financial Management II, and Regulation and Taxation of L&H Insurance
