Syllabus

 

The University of Alabama

College of Human Environmental Sciences

Department of Consumer Sciences

CSM 400/500--Personal Insurance Planning and Management

Fall 2007

 

Instructor:       Mrs. Jan L. Brakefield, M.S., CFP

                          Assistant Professor                                                                               Phone:        348-8722

Office:              214 Adams Hall                                                                                      E-mail:        jbrakefi@ches.ua.edu

Office Hrs:       M/T/R  2-4 p.m.

 

Course Description:  Three Credit Hours, Pre-req – CSM 204

A survey of the myriad of personal risks facing consumers and families throughout the lifecycle. An emphasis is placed on the fundamentals of risk management. Includes a comprehensive study of insurance products.

 

TextBook:

Vaughan and Vaughan (2nd ed., 2001). Essentials of Risk Management and Insurance (New York: John Wiley Publishers).

 

Course Objectives:  Students in CSM 400/500 will

1.   understand the concept of risk, identify various types of risk exposure, and identify methods of altering degree of risk exposure.

2.   identify the characteristics of the various types of life, health, property, and liability insurance coverage.

3.   understand the similarities and differences between private insurance and social insurance programs.

4.   understand insurance company structure and regulation.

5.   understand the basic principles of insurance policy taxation.

6.   advise mock clients as to risk exposures and appropriate insurance products to cover those exposures based on stage of life course.

 

Evaluation:

Undergraduates:

Four exams at 100 points each  =  400 total points

 

Graduate Students:

Four exams at 100 points each = 400 points

Two financial literacy presentations = 50 points each = 100 points

Total = 500 points

 

Graduate students will conduct two financial literacy educational programs for the benefit of two campus groups (a residence hall, student organization, etc.) that incorporate information from both CSM 500 and CSM 504. Students will work in groups of three or four throughout the semester to develop two 20-minute presentations dealing with principles of investments or insurance planning that they deem relevant to other members of the campus population. Graduate students will be expected to collaborate on the presentation design and implementation.

 

    All Students:   

Opportunities for extra credit will be available to those who miss no more than 3 classes.

Makeup exams will be taken during the final exam allotted time period.

 

General Information:

You will need a financial calculator with time value of money functions.  You will not need a cellular phone or paging device.  You may not use this type of equipment during the class period.

 

Policy on Academic and Classroom Misconduct:

All acts of dishonesty in any work constitute academic misconduct. This includes, but is not necessarily limited to cheating, plagiarism, fabrication of information, and abetting any of the above. The Code of Academic Conduct and Academic Misconduct Disciplinary Procedures will be followed in the event that academic misconduct occurs. Students should refer to the Student Affairs Handbook which can be obtained from the Student Life Office in Ferguson Center.

 

No eating or drinking is permitted.

 

You must behave in a manner that is conducive to a teaching and learning environment.  This includes maintaining you focus and engagement with the instructor and classroom assignments.  Disruptive, obstructive, or disengaged behavior will be subject to disciplinary sanctions outlined by the Code of Student Conduct. 

 

Policy on Disability Accommodations:

The University of Alabama is committed to providing persons with disabilities an equal opportunity to participate in and benefit from all programs and services offered by the University. It is the responsibility of persons with disabilities to seek assistance. If you need special assistance, please contact the Office of Disability Services at 205-348-4285 or Dr. Olivia Kendrick in 101 Doster Hall.  After initial arrangements have been made with that office, contact the instructor.

 

CSM 400/500 Personal Insurance Planning and Management

Course Outline

8/23                                         Introduction

8/28                                         Chapter 1, The Problem of Risk

8/30                                         Chapter 3, The Insurance Device

9/4                                           Chapter 2, Risk Management

9/6                                           Chapters 6, The Private Insurance Industry

9/11                                         Chapter 7, Functions of Insurers

9/13                                         Chapter 9, The Legal Framework

9/18                                         Chapter 9 continued

9/20                                         Exam I

9/25                                         Chapter 10, Managing Personal Risks

9/27                                         Needs Analysis Calculation

10/2                                         Chapter 12, Introduction to Life Insurance

10/4                                         Chapter 13, The Life Insurance Contract

10/9                                         Chapter 13, continued

10/11                                       Mid-semester Break

10/16                                       Chapter 14, Buying Life Insurance

10/18                                       Life Insurance Case Analysis

10/23                                       Exam II

10/25                                       Chapter 15, Health Insurance: Disability Income Insurance

10/30                                       Chapter 15, continued

11/1                                         FPA of North Alabama – “Lessons In Success” Symposium

11/6                                         Chapter 16, Health Insurance: Coverage for Medical Expenses

11/8                                         Mr. Mike Grayson, Vice President, Southern Division, AXA Advisors

11/13                                       Chapter 16, continued

11/15                                       Exam III

11/20                                       Chapter 18, The Homeowners Policy

11/22                                       Thanksgiving holiday        

11/27                                       Chapter 18, continued

11/29                                       Chapters 20 and 21, Negligence and Legal Liability

12/4                                         Chapter 23, The Personal Auto Policy

12/6                                         Comprehensive Case Study

 

12/13                                       Final Exam, 8:00 am