Master of Science in Financial Services

One of the industry’s most pragmatic elite degrees.

MS640 - Insurance

Risk. Theory. Practices and Products.

Both personal and business client needs are thoroughly explained in this insurance program. You will learn how to effectively serve clients with product sales, analysis and evaluation of insurance products and policies.

Including:

  • Risk
  • Legal insurance principles
  • Contract analysis
  • Social Security and Medicare
  • Life Insurance
  • Annuities
  • Medical expenses insurance
  • Homeowners insurance
  • Auto, property, and liability insurance

All of the topics covered in the CFP and CLU program are covered.

The course material covers the following:

Risk and Insurance

  • Risk and Related Terms
  • Classifications and Measurements of Risk
  • Different Reactions to Risk
  • Costs of Pure Risks
  • Insurance to Treat Pure Risks

Risk Management

  • Nature and Scope of Risk Management
  • Objectives of Risk Management
  • Role of Risk Manager
  • Basic Methods of Treating Risks
  • How Insurance Works
  • Steps in Risk Management

Types of Insurers

  • Types of Private Insurers
  • The Marketing Process

Company Operations

  • Underwriting and Reinsurance
  • Claims Settlement
  • Rate Making and Investing
  • Other Functions of Insurers

Regulation and Evaluation

  • Sources of Insurance Regulation
  • Federal vs. State Regulation
  • Evaluating Insurers

Legal Principles

  • Insurance: An Intangible Contract
  • General Legal Requirements
  • Special Characteristics
  • Analyzing an Insurance Contract

Social Security

  • Social Security: Eligibility
  • Types of Benefits
  • Social Security: Benefit Amounts
  • Dealing with Social Security
  • Medicare: Eligibility
  • Medicare Part A: Hospital Benefits
  • Medicare Part B: Medical Insurance
  • Medicare Part C: Medicare Advantage
  • Medicare Part D: Prescription Drug Coverage and Dealing with Medicare
  • Adequacy of Financing
  • Taxation of Social Security and Medicare
  • Other Social Insurance Programs

Life Insurance

  • Purposes of Life Insurance
  • Methods to Provide Life Insurance
  • Traditional Types of Life Insurance
  • Variations of Traditional Policies
  • Group Life Insurance
  • Comparison of Life Insurance Types

Policy Provisions

  • Policy Declaration Page
  • Required Provisions
  • Prohibited Provisions
  • Optional Provisions and Riders
  • Policy Filing and Approval

Insurance Planning

  • Measuring the Cost of Life Insurance
  • Illustrations
  • Policy Replacement
  • Viatical Agreements
  • Life Settlements
  • Business Uses of Life Insurance
  • Tax Treatment of Insurance
  • Estate Planning Uses

Annuities

  • Annuity Terms
  • Nature of Annuities
  • Joint Annuities
  • Variable Annuities
  • Equity-Indexed Annuities
  • Actuarial Considerations
  • Fees and Charges
  • Federal Income Tax Treatment
  • Uses of an Annuity and Ethical Issues
  • Charitable Gift Annuities
  • Structured Settlements
  • Impaired Risk Annuities

Medical Insurance

  • Traditional Plans
  • Managed Care Plans
  • Comparison of Medical Expense Plans
  • Consumer-Directed Plans
  • Benefit Carve-Outs
  • Plan Provisions
  • Dental Insurance
  • Additional Benefits for Executives
  • Federal Tax Treatments

Individual Insurance

  • Continuation of Coverage
  • Types of Policies Available
  • Insuring the Unhealthy
  • Consumer-Directed Plans
  • Policy Provisions
  • Federal Tax Treatment

Disability Income

  • Sources of Coverage
  • Sick-Leave Plans
  • Insured Group Disability Income Plans
  • Taxation of Employer Provided Benefits
  • Individual Disability Policies
  • Business Uses of Disability Insurance

Long-Term Care

  • Importance of Long-Term Care Planning
  • Sources of Long-Term Care Financing
  • Development of Insurance Coverage
  • NAIC Model Legislation
  • Effect of HIPAA Act
  • Characteristics of Individual Policies
  • Group Coverage

Property and Liability

  • Property and Liability Loss Exposure
  • Property and Liability Insurance
  • Tax Treatment
  • Need for Property and Liability Insurance Planning

Homeowners Insurance

  • Homeowners Policies
  • Other Homeowners Forms
  • Homeowners Endorsements: Tailoring the Policy
  • Other Residential Forms
  • Flood Insurance
  • Hard-to-Insure Residential Property
  • High-Value Residential Property
  • Floater Policies
  • Title Insurance

Auto and Umbrella

  • Auto Insurance
  • Personal Auto Policy
  • Part A-Liability Coverage
  • Part B-Medical Payments Coverage
  • Part C-Uninsured Motorist Coverage
  • Part D-Coverage for Damage to Your Auto
  • PAP Endorsements
  • Hard-to-Insure Drivers
  • Shopping for Auto Insurance
  • Insuring Watercraft and Airplanes
  • Personal Umbrella Liability Insurance

Business Property and Liability

  • Types of Commercial Property and Liability Insurance
  • Business Owners Policies

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