RMI 2113 - Personal Insurance

College of Business

Credit(s): 3
Contact Hours: 47
Effective Term Spring 2014 (480)

Course Description

This is the second of three courses in the Insurance Services AS program. The intent of the course is to provide an overview of personal lines insurance, including an introduction to fundamental automobile, homeowners, life, health and disability concepts, practices, and current market trends. It is strongly recommended that students complete RMI 1201 prior to taking RMI 2113.

Learning Outcomes and Objectives

  1. The student will discuss the basic concepts of personal risk management by:
    1. identifying loss exposures of individuals and families.
    2. explaining methods of personal risk management.
    3. comparing types of personal insurance policies.
  2. The student will explain personal lines automobile insurance, including its purpose, coverage, rating and application by:
    1. identifying and comparing the purposes of automobile insurance.
    2. assessing compensation of auto accident victims and defining no-fault insurance.
    3. comparing and contrasting the regulations on automobile insurance.
    4. assessing and comparing the coverage parts of a personal automobile policy.
    5. appraising basic premium rating factors used in a personal automobile policy.
  3. The student will describe personal lines property coverage including homeowner, dwelling and other property policies including their purposes, differences, coverage, rating and application by:
    1. tracing the evolution of a homeowner's policy.
    2. assessing and comparing the coverage parts of a homeowners insurance policy.
    3. comparing and contrasting the differences in regards to state, company and service organization variations of policy forms and endorsements.
    4. deciding the development of a homeowner's premium rate.
    5. comparing other personal residential property and liability policies, their coverage and application.
  4. The student will discuss life, health, disability and other personal insurance products including both those provided by private and governmental entities by:
    1. discovering and classifying personal financial loss exposures, methods to plan for future financial goals, retirement planning methods and the role of social security.
    2. describing the need for life insurance; discussing methods to determine the recommended amount of life insurance.
    3. comparing and discussing types of life insurance, contractual provisions and additional benefits.
    4. identifying life insurance underwriting methods and comparing individual life insurance with group life insurance.
    5. identifying and describing current healthcare problems in the US and discussing and comparing private providers of health insurance with government health insurance and healthcare programs.
    6. comparing basic medical expense coverage with major medical insurance.
    7. distinguishing the important provisions of group health insurance.
    8. identifying and discussing the coverage provided by dental insurance, long term care insurance, managed care plans, and disability income insurance.

Criteria Performance Standard

Upon successful completion of the course, the student will, with 70% accuracy, demonstrate mastery of the above stated objectives through classroom measurements developed by individual course instructors.

History of Changes

3/31/2015: Updated prereqs to remove admission to deactivated INSVS-AS. -K. Shaw A. Ashe 5.6.13; updated Originator from Jamie Wise (CurricUNET employee) to Greg Nenstiel; 10.18.2013 RMI 2117 submitted to SCNS; returned as RMI 2113. aa
C&I Approval: 05/31/2013, BOT Approval: 08/05/2013, Effective Term: Spring 2014 (480)

Related Programs

  1. Business Administration (BUS-AS) (670) (Active)
  2. Risk Management and Insurance Management (RISKMGT-CT) (595) (Active)