Insurance and Risk Protection (DFP2) is the second of three core units in the (FNS50615) Diploma of Financial Planning.
This unit introduces students to the concepts of personal risk management as they apply to retail clients and considers the participants, products and regulation within the insurance industry. The principles underpinning policy documentation, underwriting, risk appraisal and pricing are also covered, as are approaches to designing client recommendations using insurance products.
Upon successful completion of the unit, students will meet the education requirements of ASIC Regulatory Guide 146 (RG 146) for providing personal advice in Life Insurance.
At the successful completion of Financial Planning Fundamentals (DFP1), Insurance and Risk Protection (DFP2), and Superannuation and Retirement Planning (DFP3), the (FNS50615) Diploma of Financial Planning will be awarded.
Units of competency:
FNSASICX503 Provide advice in life insurance
FNSIAD501 - Provide appropriate services, advice and products to clients
FNSINC501 - Conduct product research to support recommendations
FNSCUS505 - Determine client requirements and expectations
FNSCUS506 - Record and implement client instructions
FNSASIC305 - Provide Tier 2 personal advice in general insurance