Fundamentals of Life Insurance and Annuities

Catalog description

Fundamentals of Life Insurance and Annuities is designed to provide students with a broad introduction to life, health, and annuity insurance contracts. Students will gain an understanding of the many applications of these insurance types from a personal, financial planning and business perspective. Policy forms, contractual language, insurance law, pricing methods, and insurance processes (marketing, distribution, underwriting, claims, and administration) will be surveyed during the course. In addition, insurance company operations, policies, regulatory environment, investment policy, and taxation will be covered. Insurance policy benefits, riders, and features will be explored via case studies highlighting life insurance uses in personal, estate planning, and business situations. The course will help students gain the analytical skills and broad risk management techniques to understand how life insurance products are designed, priced and managed from a manufacturer’s perspective. Current issues facing the life insurance industry will be discussed and contrasted with other participants in the financial service industry. Throughout the semester students will be exposed to current risk related topics and issues and they will be able to demonstrate their understanding of them through presentations, group projects, and a final paper.