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Textbook Notes for Business Administration - Financial Planning RFC124 at Seneca College

SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 9-1: Life Insurance, Car Rental, Insurable Interest

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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 7: Lump Sum, Missing Person, Life Insurance

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Capital needs analysis: assesses assets vs liabilities and income needs. Needs vs currently held = the need for insurance. Administrative costs that th
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

RFC124 Chapter 10-1: RFC124 10-1 Indicidual Insurance Contract

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Overview: regulation of life and health insurance industry, parties to a life insurance contract, contractual aspects common to all individual life ins
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 9-4: Canada Health Act, Public Administration, The Roots

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The canada health act is canada"s federal health insurance legislation. It establishes the criteria and conditions that the provinces/territories must
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 9-2: Punitive Damages, Moral Hazard, Financial Planner

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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 10-2: Term Life Insurance, Estate Planning

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Most basic form of insurance: premiums and protection, no other features other than the death benefit. Contract components: initial face amounts, term
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 10-9: Disability Insurance, Cross Ownership, Property Insurance

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Disability insurance provides financial protection to an individual who becomes unable to work because of a health impairment. Disability insurance pay
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 9-3: Liability Insurance, Damages, Burglary

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Covers financial risk associated with liability towards others: liability = responsibility. Most private companies and some provincial governments are
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

RFC124 Chapter 10-4: RFC124 Chapter 10-4: RFC 124 Risk 10-4 Universal Life Insurance

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Origin: economic climate in 70s and 80s, co(cid:373)petitio(cid:374) fro(cid:373) (cid:862)(cid:271)u(cid:455) ter(cid:373) a(cid:374)d i(cid:374)(cid:
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 6: Unit, Fair Market Value

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Exempt and non-exempt dec 1 , 1982. Purchase an annuity and spread tax liability (cid:858)g(cid:396)a(cid:374)dpa(cid:396)e(cid:374)t(cid:859) status i
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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 9-5: Orthodontics, Co-Insurance, Hearing Aid

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SENECABusiness Administration - Financial Planning RFC124Roshan SinghFall

Business Administration - Financial Planning RFC124 Chapter Notes - Chapter 8: Life Insurance, Term Life Insurance, Unit

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Employer or member, - referred to as plan member. Must be at work the day the coverage begins. Employer union or sponsor covers 50% towards cost of the
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