FSP101 - Insurance Licensing Program

Subject Title
Insurance Licensing Program

Subject Description
Insurance Licensing ProgramThis course introduces the student to the requirements for licensing a candidate for Life Insurance and Accident and Sickness (A&S). Today's licensing requirements mandate certification through a regulator approved Provider and approved training program. Seneca has achieved both of these distinctions. This course will introduce the student to a basic history of the Life Insurance Industry, products common to all companies and also the three financial models of today's product providers (Stock, Mutual and Fraternal). Not only will the student become familiar with products such as Life Insurance but also Insurance financial investments instruments and a broad array of living benefits plans, such as medical, both group and personal, critical illness and long term care. The course concludes with a basic grounding in Insurance Law, Contract Law, Regulation and Professional Standards for Agents. Students will be prepared to write the LLQP course providers exam on completion of the course. A certificate will then be issued that will entitle them to write the Financial Services Commission of Ontario (FSCO) LLQP licensing exam.

Credit Status
FSP 101 is a required subject in the Financial Services Practitioner Certification Program

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Explain the principals of insurance, and how insurance companies evolved.
2. Explain the types of insurance products, how they evolved, and the agent?s role in their distribution.
3. Assess different types of insurance policies, benefits, and riders and how to evaluate them in relation to their clients? needs and in relation to other financial products provided by government, employers and purchased individually.
4. Recommend insurance solutions to clients to create and preserve their wealth.
5. Evaluate their clients income replacement needs and recommend the appropriate type of disability policies and riders.
6. Formulate basic investment strategies for clients related to the various types of investments products, major classes of securities and insurance investment products.
7. Explain the importance of underwriting (evaluation of risk) and the key role that the agent plays in it.
8. Analyze pre and post-retirement client?s major sources of retirement funding: government, corporate and personal.
9. Analyze the principles, concepts and techniques of risk management.
10. Describe the legal issues and regulations concerning life insurance and its distribution.
11. Write their provincial life license examination.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.