Course Title: Insurance and Estate Planning

Part A: Course Overview

Course Title: Insurance and Estate Planning

Credit Points: 12.00

Course Coordinator: TBA

Course Coordinator Phone: +61 3 9925

Course Coordinator Email:

Pre-requisite Courses and Assumed Knowledge and Capabilities

You are recommended to have completed the following course(s) or have equivalent knowledge before starting this unit:

BAFI3244 Financial Planning Process

Course Description

This course provides students with an understanding of the principles of managing risk through insurance, and the contemporary issues and rules that affect the efficient distribution of assets after death.

The course examines the technical issues in life, general and health insurance in the context of financial advice to a retail client. Students will also examine issues around compliance, claims and dispute resolution. The course also examines the role of estate planning as part of the advice process for a retail client. The course covers key estate planning topics such as wills, power of attorney, testamentary trusts, distribution of estate assets and the tax implications of a deceased estate. Students will also examine the impact of Family law and issues around inheritance and charitable trusts, and the taxation of capital gains within super structures super death benefits.

Students will develop the ability justify and communicate to clients and peers, strategies and solutions in relation to insurance and estate planning. 

This course has been designed to meet the new standards set by Financial Adviser Standards and Ethics Authority (FASEA) of what constitutes a ‘relevant degree’ pursuant to Corporations Amendment (Professional Standards of Financial Advisers) Act 2017.

Objectives/Learning Outcomes/Capability Development


On successful completion of this course, you will be able to:

  1. Synthesise a body of knowledge that includes an understanding of the principles of risk management, insurance and estate planning principles.
  2. Apply knowledge of research principles and methods to the development of insurance and estate planning strategies and solutions for retail clients.
  3. Synthesise and apply technical knowledge in order to develop risk management and estate planning strategies that meet client needs.
  4. Apply reasoning, technical and creative skills to generate and evaluate complex ideas and concepts to solve comprehensive client scenarios related to risk management and estate planning.
  5. Justify and communicate to clients and peers, strategies that help protect against the cost of accidents, illness, disability, and death; and that establish tax effective wills and trusts to protect estate assets and the interests of beneficiaries in the event of death.

The following table maps each CLO against one or more Program Learning Outcomes (PLO)



















































Please note: PLOs listed below.  Not all PLOs are achieved in a single course.


PLO1 Demonstrate knowledge of financial advice regulation and practice in Australia.

PLO2 Apply knowledge of research principles and methods applied to the discipline of financial planning.

PLO3 Analyse, synthesize and evaluate complex financial advice scenarios and theories to demonstrate cognitive and technical skills in financial planning.

PLO4 Apply reasoning, technical and creative skills to generate and evaluate complex ideas and concepts to solve emerging or advanced problems related to investments, superannuation planning, retirement planning, estate planning, insurance, and taxation planning.

PLO5 Justify and communicate financial planning advice and ideas in complex collaborative contexts involving both professional financial planners and non-professionals.

PLO6 Apply knowledge and skills with creativity and initiative, using a high level of personal autonomy and accountability, to new client scenarios in professional practice.

PLO7 Apply knowledge and skills to plan and execute a capstone research experience combined with authentic Work Integrated Learning (WIL) contexts, professional contexts and industry settings.

Overview of Learning Activities

Your learning will be supported through various activities which may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; debating selected topics on discussion forums and producing written work.

Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. These may include topic notes and slides, a study schedule, assessment details, links to relevant internet information, readings and communication tools to facilitate collaboration with your peers and sharing of information.

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian. Contact details for Business Liaison Librarians are located online on the RMIT library website.  Additional resources and/or sources to assist your learning will be made available to you as required during the teaching period.

Overview of Assessment

Assessment Tasks


Assessment Task 1:


15 per cent

Assessment Task 2:

Major Assignment

40 per cent

Assessment Task 3:

Final Examination

45 per cent



Course Learning Outcomes


 Tasks  CLO1  CLO2  CLO3  CLO4  CLO5
 Task 1  X  X    X  
 Task 2  X  X  X  X
 Task 3  X    X  X X