Key words
Life Assurance, IWETO-code: S137 Life Insurance, S141 Tax Law, S182 Actuarial Sciences
Objectives
The student acquires the necessary competencies through a judicial insight on the one hand and the mathematical pattern of life assurances on the other hand.
He learns to apply the life assurance as a fiscal instrument.
The student will be able to prospect life assurance.
By means of commercial considerations and tariffs with practical exercises we will try to achieve this.
Topics
Individual life assurances: thematic overview of the products from branch 21 and branch 23- Classical life
- Universal life
- Universal life - unit linked
These are supplemented with the judicial, financial and fiscal implications for each branch.
WAP, group insurances, VAPZ
Prerequisites
Knowledge, attitudes, skills concerning Financial Algebra, Insurance Techniques, Tax Law and Civil Law.
Final Objectives
Knowledge
Job-related (specific):- Knowledge of the specific legislation and regulation of the products of life assurance
- Knowledge of the professional literature in the field of tax law and law
- Knowledge of the carriers of information and instances that collect information: libraries, multimedia
- Knowledge of the life assurances, their possibilities and limitations
- Knowledge of the techniques of risk management
- Knowledge of the evolutions in own fields of study
- Knowledge of the technical terminology
- Knowledge of the statistical calculations and insight in the mathematical pattern of the life assurance
- Knowledge of the professional unions and organisations
- Knowledge of the topicality concerning the profession
- Knowing where one can get further training and what one can consult concerning that
- Knowledge of sales techniques to prospect the life assurance
Skills
General:- Thinking and reasoning power
- Working independently
- Updating knowledge
- Consulting sources
- Acquiring and assimilating information
Job-related (general):- Ability to argue
- Ability to negotiate
- Analysing information and tracing anomalies
- Handling numerical data
- Following the evolution in the fields of study
- Ability to interpret and apply job-related guidelines
- Ability to handle confidential data in a deontological way
- Ability to think in an analytical and problem-solving way
- Thinking logically
- Insight in complex situations
Job-related (specific):- Inform and give advice to clients in the field of insurances and tax law
- Comparing products and giving advice in accordance with the economical, judicial, fiscal and social situation of the client
- Introducing 'the best possible choice' for the client in accordance with a strictly moral, deontological and legal code
- Having a sale conversation
- Follow the quickly evolving legislation in the field of finances and insurances, tax law, law and check whether the information is correct, complete and up-to-date
- Collect, process, store and use relevant information
- Handling confidential data discrete and according to legal stipulations
- Ability to identify and analyse the needs of clients
- Ability to indicate correctly the rights and duties of both parties in a contract
- Ability to handle mathematical tables that determine the risk in a quantitative way
- Ability to calculate the financial consequences of various approaches
- Ability to formulate alternated scenarios
- Applying procedures and techniques while considering the protection of values or confidential documents
Attitudes
General:- Sense of responsibility
- Integrity
- Client-oriented
- Being critical
- Being creative
- Precision and accuracy
- Inquisitiveness
- Self-confidence
Job-related (general):- Result-oriented
- Inquisitiveness, continuously updating knowledge
- Independence - ability to work independently
Job-related (specific):- Sense of initiative
- Willingness to establish contact with clients and co-workersb
- Ability to handle judicial and financial information
- Ability to be selective in that information
- Eagerness to work with numerical data
- Distil goal-oriented or relevant information
- Keeping up with the professional literature
- Eagerness to learn continuously
Materials used
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Syllabus and exercises provided by the lecturer.
Study costs
Syllabus at the unit price determined under Hogeschool rules.
Costs linked to the extra muros activities: seminars and project LEVENT.
Study guidance
The student can ask the lecturer questions.
Guided self-learning is provided.
Teaching Methods
Lecture activated with exercises, legislation, tax law, cases and topical subject matters supplemented with drawing up a paper independently and guided self-learning with obliged consultations.
Assessment
- First exam session: written exam 70% and continuous assessment 30%
- Second exam session: written exam 100%
Students only enrolled for taking the exams:- First exam session: written exam 70% and individual assignment 30%
- Second exam session: written exam 100%
Lecturer(s)
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