Risk management is a complex, progressive and demanding industry based on the protection of individuals, businesses and governments against risk and financial catastrophe. Insurance is the foundation of our lives and the social and economic fabric of our society. This subject will assist you to develop a clear appreciation of the life insurance sector of the financial services industry. Life insurance is the cornerstone of most financial plans and one of the most important areas in personal financial management. The financial adviser must be aware of the need for and appropriate amount of life insurance and to match up the most suitable policy to meet the need within the client’s affordability.
Although there are a wide variety of different life insurance products to cater for different needs in the market today, the basic types of products have not changed significantly. It is important that the financial adviser understands these fundamentals and be able to recommend the appropriate products that will meet the client’s situation and needs.