FSC524 Life, Disability and Health Insurance Level 5 Assignment Sample

This is the assignment sample of FSC524 Life, Disability, and Health Insurance Level 5.

This online course is designed for people working in the financial services industry. It will give you contextual and product knowledge which can be applied to specialist roles within the life, disability, and health insurance sectors.

You’ll learn about risk management concepts from a variety of perspectives including finance theory and practice as well as economics while understanding how all these aspects intersect with relevant areas such as tax law, accounting principles, or even personal injury litigation strategies!

From there we dive into some more specific topics like company issues like asset allocation decisions (which have been shown by research studies to help increase returns) before moving on towards regulatory requirements pertaining specifically to insuring lives versus something intangible such as intellectual property rights where it’s not quite so cut-and-dry what constitutes an “insurable interest.”

Assignment Solutions of FSC524 Life, Disability and Health Insurance Level 5

Assignment Activity 1. Recognize environmental, technical, procedural, and risk management factors that impact life, disability, and health advice.

Recognizing environmental, technical, and procedural factors is critical for developing sound life, disability, or health advice. For example, consultants should consider the use of protective clothing and eyewear when giving input on hazardous chemicals, as certain contaminants in workplaces can cause a particular occupational illness to develop.

Risk management is about minimizing risk so that clients do not have to bear undue burdens and price implications even if they are unable to make investments in mitigation/control measures themselves. This is why focusing on safety is so important – it removes the need to allocate scarce resources towards looking after people who have the most severe risks for developing a disease because there’s no way they could afford appropriate well-being services with higher individual post-diagnosis costs.

Assignment Activity 2. Evaluate the suitability of life, disability, and health insurance products, structures, and options in terms of their benefits, risks, limitations, and potential non-insurance solutions.

Life, disability, and health insurance products are notably different from each other and all have their own structures of coverage.

For instance, life insurance provides a lump sum upon death, disability insurance pays out a cash benefit if the insured person is unable to work for a period of time on account of sickness or injury- limiting their income for that time- with the understanding that employers are not legally required to provide income replacement.

Health Insurance covers medical expenditures incurred during an enrollee’s lifetime, typically without regard to diagnosis or length of need.

Shopping around for the right product may be as simple as ensuring that you understand what you want from it (how much money would your family member need?

Assignment Activity 3. Apply environmental, technical, procedural, and risk management factors in life, disability, and health insurance context.

I’m going to break it into 3 parts.

First, look to your environment and take note of pollution levels (indoor versus outdoor), toxic substances that could affect humans, animals, or plants in the area as well as noise pollution.

Next, look at technical matters for biological factors which may help or hinder survival: resources available in terms of warmth, electricity, food/water; any potential hazards from chemical spills and storage tanks to radiation leaks; reducing expenses by altering the property’s decor where possible to be more sustainable and greener. Procedures include making sure you establish an emergency plan that can happen quickly if need be (and abilities such as storing supplies in advance).

Risk management includes knowing what actions to take if there’s a sudden fire, earthquake, or flood.

In the beginning stages of planning, you should consider whether or not “you have an unlimited budget?” If you do not have all the money and resources you need for your survival bunker right now, you can start with small projects that will hopefully help you accumulate more funds.

Disability insurance is usually purchased as a safeguard against the risk of an accident or medical condition causing loss of income. Its purpose is usually to pay some or all of your lost income if you can not work due to an illness, injury, disability, or are temporarily laid off because your hours/pay were reduced for economic reasons.

Assignment Activity 4. Apply the six-step advice process in life, disability, and health insurance context.

Wow, it’s been a while since I’ve heard of that.

1.Take responsibility for your health and wellbeing through education about the options available to you;

2.Consider becoming an advocate for change by making your voice heard in the process of reforming our healthcare system either alone or with others who share your interest;

3.Learn about all possible benefits both needed medical supports and vocational supports are essential to ensuring that people with disabilities can live long, healthy lives with dignity as active participants in society;

4.Follow through on changes once they begin by following up for necessary support services from providers regardless of where they come from (and don’t be afraid to ask questions), managing prescription medication use wisely, knowing to have a plan for emergencies, and knowing how to contact local emergency services, and staying healthy overall;

5. Lastly,  learn your ADA rights and stay vigilant about possible violations of them follow up on any potential violations by contacting appropriate government agencies or private attorneys with expertise in disability law to help you if needed.

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