This course covers financial planning issues related to obtaining financial security. It is a time sequential course starting off with budgeting, and financial organization. Financial worth is discussed, including how to figure net worth using standard worksheets.
Since establishing financial goals is necessary to any financial plan, chapter 3 looks at goal setting that is realistic. Once goals are established, the course moves on to investments and investment risk, including the silent risk – inflation.
Because life is uncertain, the course looks at the use of setting aside emergency funds, including the best places to keep such money. Debt is also discussed. Americans are the highest users of plastic debt, eating up much of our resources. Chapter six looks at the way credit card debt works and how the interest rate charged takes even more than one often realizes.
Chapter 7 deals with health insurance, including major medical plans, Medicare supplemental plans, and long-term care insurance for the nursing home. The course progresses on through disability plans, and life insurance (including who really needs it). Since agents know that insurance is all about protecting assets, chapter ten looks at property and casualty lines (home and auto insurance).
Chapter 12 looks at insurance that is obtained through employment. Medical insurance is most likely the result of employment, but other types are also available.
Chapter 13 examines the financial needs in retirement. This primarily deals with saving enough money during our working years to be able to be financially comfortable when retirement comes. Planning for retirement also means planning our estate. Chapter 14 looks at that topic. Estate planning involves many things, including gifting and other property distribution, wills and revocable trusts, and even planning for our pets after we are gone.
Finally, Seeking Security looks at the need for ethics in our day-to-day lives. While morals are part of everyone’s life, it is essential in a field like insurance that deals with consumer finances.