Courses & Units
Risk and Estate Planning BFA509
Introduction
Risk management is a complex, progressive and demanding industry based on the protection of individuals, businesses and governments against risk and financial catastrophe. Insurance is the foundation of our lives and the social and economic fabric of our society. This unit will assist you to develop a clear appreciation of the Life Insurance sector of the financial services industry. Life insurance is the cornerstone of most financial plans and one of the most important areas in personal financial management. The financial adviser must be aware of the need for and appropriate amount of life insurance and to match up the most suitable policy to meet the need within the client’s affordability. Although there are a wide variety of different life insurance products to cater for different needs in the market today, the basic types of products have not changed significantly. It is important that the financial adviser understands these fundamentals and be able to recommend the appropriate products that will meet the client’s situation and needs.
Summary
| Unit name | Risk and Estate Planning |
|---|---|
| Unit code | BFA509 |
| Credit points | 12.5 |
| College/School | College of Business & Economics Tasmanian School of Business and Economics |
| Discipline | Accounting |
| Coordinator | Doctor Roger Colbeck |
| Delivered By | University of Tasmania |
| Level | Postgraduate |
Availability
| Location | Study period | Attendance options | Available to | ||
|---|---|---|---|---|---|
| Hobart | Semester 1 | On-Campus | International | Domestic | |
| Online | Semester 1 | Off-Campus | International | Domestic | |
Key
- On-campus
- Off-Campus
- International students
- Domestic students
Note
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Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.
Key Dates
| Study Period | Start date | Census date | WW date | End date |
|---|---|---|---|---|
| Semester 1 | 26/2/2024 | 22/3/2024 | 15/4/2024 | 2/6/2024 |
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2024 are indicative and subject to change. Finalised census dates for 2024 will be available from the 1st October 2023. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
Learning Outcomes
- Recommend appropriate personal risk insurance services, advice and products to clients.
- Evaluate the application of insurance law, risk management applications and policy contracts.
- Evaluate personal risk, estate planning and sustainable practice strategies in financial planning scenarios.
- Describe the estate planning and administration process and analyse and evaluate the process of drawing up of wills, the testamentary trust framework, powers of attorney, and pre-nuptial agreements within this.
- Evaluate the importance of trusts, asset protection, types of powers of attorney and binding health directives and describe the legal frameworks around these concepts.
Fee Information
| Field of Education | Commencing Student Contribution 1,3 | Grandfathered Student Contribution 1,3 | Approved Pathway Course Student Contribution 2,3 | Domestic Full Fee 4 |
|---|---|---|---|---|
| 080101 | $2,040.00 | $1,597.00 | not applicable | $2,979.00 |
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
If you have any questions in relation to the fees, please contact UConnect or more information is available on StudyAssist.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
Teaching
| Teaching Pattern | Blended delivery approach with self-directed teaching materials provided online. For on campus teaching, this incorporates in addition to engaging with online material, 5 x 2-hour workshops. There are also a (two) 2-hour online workshops weekly per intensive delivery period, commencing in Week 6.
|
|---|---|
| Assessment | Assignment (25%)|Application questions and an estate planning case study (35%)|Capstone assessment (40%) |
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required |
You will need the following texts: Teale, J, S 2023, Insurance and Risk Management 5th edition, Wiley Finance, Australia. McKeown, Kerry, Olynyk 2021, Financial Planning essentials, Wiley (E Text version available) |
|---|---|
| Recommended | Taylor,S; Juchau,R 2019, Financial Planning in Australia 2019 essentials edition, LexisNexis Butterworths, Sydney Simpson, A 2019, The Australian Guide to Wills and Estate Planning [electronic resource]: How to Plan, Protect and Distribute Your Estate, John Wiley & Sons Perkins, MJ 2020, Estate planning¿: a practical guide for estate and financial service professionals / Michael Perkins, Robert Monahan, LexisNexis Butterworths, In addition to the texts (or software) recommended above, students are also expected to be familiar with the key academic journals in the discipline from which useful insights may be derived. In particular, students are encouraged to review regularly the relevant papers that are published in: Financial planning is a dynamic area. Students are therefore urged to follow current events and developments in finance in the press.
| Links | Booktopia textbook finder |
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.