CFP module two would cover the knowledge requirements involving to insurance needs and risk assessment of clients. It introduces students to various concepts and regulatory environment of insurance in India. The evolution process requires advice on decisions in selecting various types of insurance related to personal finance for clients. This includes protection against exposures to risks of mortality, health, disability, property, liability, and long term care risk.
- Understand the role of the financial planner in the personal risk assessment process.
- Integrate risk assessment and risk protection into a comprehensive financial plan.
- Analyze the individual risk areas and the extent and type of protection best suited for the client’s
financial situation and financial goals.
- Implement the plan for the insurance component and integrate tax efficiency.
Section I: Concepts of Insurance and Risk Management
- Introduction to Insurance
- Basic Concepts of Insurance
- Insurance and Risk
- Fundamental Principles of Insurance
- Risk Management
Section II: Insurance Contract and Legal Liability
- The Insurance Contract
- Important Terms in Insurance Contract
- Insurance Pricing and Premium Calculation
- Analysis and Selection of Insurance Products and its Provider
- Legal Liability
Section III: Life Insurance- Analysis of Life Cover, Strategies, and Products
- Assessment and Identification of Risk Exposure
- Analysis of Life Insurance Needs
- Types of Life Insurance Policies
- Calculations of Claim Amount and Other Benefits
- Other Provisions of Life Insurance contract
Section IV: General Insurance- Property, Health and Liability Insurance
- Health Insurance and Accident insurance
- Personal Disability Insurance
- Property and Liability Insurance
- Other Business Specific Insurance
Section V: Regulatory Framework of Insurance
- Regulations Relating Insurance
- Other Regulatory Aspects of Insurance and Agency Law