MAA319 - Estate Planning and Insurance
Unit details
| Year: | 2021 unit information |
|---|---|
| Important Update: | Unit delivery will continue to be provided in line with the most current COVIDSafe health guidelines. This may include a mix of on-campus and online activities. To find out how you are impacted, please check your unit sites for announcements and updates. Unit sites open one week prior to the start of each Trimester/Semester. Thank you for your flexibility and commitment to studying with Deakin in 2021. Last updated: 4 June 2021 |
| Enrolment modes: | Trimester 1: Online Trimester 2: Burwood (Melbourne), Waterfront (Geelong), Online |
| Credit point(s): | 1 |
| Previously coded as: | MAF316 |
| EFTSL value: | 0.125 |
| Unit Chair: | Trimester 1: Adam Steen Trimester 2: Adam Steen |
| Prerequisite: | MAA255 and 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 seminar per week
|
| Scheduled learning activities - cloud: | Recorded lecture plus 11 scheduled online interactive workshops of 1 hour 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.
| ULO | 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 |
| 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 |
| 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 |
| 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 |
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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