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MAA319 - Estate Planning and Insurance

Year:

2020 unit information

Important Update:

Classes and seminars in Trimester 2, 2020 will be online.

Last updated: 2 June 2020

Enrolment modes:Trimester 1: Cloud (online)
Trimester 2: Burwood (Melbourne), Warrnambool, Waterfront (Geelong), Cloud (online)
Credit point(s):1
Previously coded as:MAF316
EFTSL value:0.125
Unit Chair:Trimester 1: Adam Steen
Trimester 2: Adam Steen
Prerequisite:

MLC301

Corequisite:Nil
Incompatible with: MAF316
Typical study commitment:

Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.

Scheduled learning activities - campus:

1 x 3 hour workshop per week 

Warrnambool campus : Over the trimester 4 x 3 hour classes and 11 hours of pre-recorded lectures are available 

Scheduled learning activities - cloud:Online independent and collaborative learning including 3 scheduled online workshops of 3 hours duration

Content

This unit introduces students to the role of the professional financial adviser in the areas of estate planning and risk management and insurance.  The unit covers a number of important topics within estate planning including Wills, powers of attorney, intestacy, estate and non-estate assets, trusts (including testamentary trusts), distribution of estate assets and the tax implications of the deceased estates. Within the area of risk management and insurance, topics include an introduction to risk management and insurance; the role and regulation of the insurance industry in Australia, insurance contracts, types of personal insurance policies and the taxation of these products. 

The unit seeks to provide an introduction to the key concepts  of estate planning and personal risk insurance and then examines the application of these concepts to the provision of strategic advice and practical strategies to clients.

 

These are the Learning Outcomes (ULO) for this Unit.
At the completion of this Unit, successful students can: 

Deakin Graduate Learning Outcomes
 ULO1  Understand the key features of estate planning and the important role that estate planning plays in the financial planning process. GLO1: Discipline-specific knowledge and capabilities 
 ULO2  Analyse and critically evaluate the needs of a client to develop and present appropriate estate planning strategies.

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking
GLO5: Problem solving

 ULO3 Understand the tax implications of death as it relates to estate and non-estate assets and develop appropriate tax planning strategies.

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking
GLO5: Problem solving

ULO4 Describe and evaluate the insurance and risk management function including the regulatory framework and environment and the basic components of an insurance contract.

GLO1: Discipline-specific knowledge and capabilities

ULO5 Examine and analyse different types of personal and general insurance policies and products to satisfy the needs of a client.

GLO1: Discipline-specific knowledge and capabilities
GLO4: Critical thinking

 ULO6 Construct and present appropriate insurance and risk management strategies and solutions to suit the needs of a client.

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking
GLO5: Problem solving

 

These Unit Learning Outcomes are applicable for all teaching periods throughout the year

Assessment

:
Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week 
Assessment 1 (Individual) – Written assignment  3,000 - 4000 words 40% Week 6
Assessment 2 (Group of 3 students)- Case study report 3000-4000 words plus appendices 30% Week 9
Assessment 3 (Individual) – Written assignment 3000 words 30% Week 11

The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.

Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAA319 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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