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Risk Management: Managing Life Cycle Risks - Revised

Learn about life cycle risks and how age, health, employment, and environment can affect these risks significantly.

Risk Management
Free Course
There are certain life cycle risks that can have a serious impact on a person's wellbeing if they are not well prepared for. We need to be aware of these life-changing situations and be ready if and when they happen to us. This course will teach you how to identify and manage important life cycle risks through before they become too large to handle. This is truly valuable knowledge, which you can start learning today.
  • Duration

    2-3 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes

Description

Outcome

Certification

View course modules

Description

There are three main classes of risks associated with the human life cycle: premature death, longevity, and wellbeing. This course starts by outlining the different ways mortality risk can negatively impact one's life. You will learn how mortality tables and life expectancy tables are used for assessing the probability of premature death. You will then study the role of interest rates in retirement planning, and discuss how health risks and medical costs form major parts of life cycle risk.

You will then study the main issues and global trends regarding social security programs and learn how social security has moved from fully funded to pay-as-you-go. This course will also discuss the difference in benefits between early and late retirees. You will also learn why extended life expectancy and lower birth rates can cause a funding burden. You will then study why the concept of pooling is critical to life insurance, and examine the difference between the reserve and face amount of a life insurance policy.

Individuals face a lot of risks as they progress through their lives, so knowing how to manage some of the big ones can make a real difference to a person's wellbeing. By the end of this course, you will understand the most important risk management trends in the modern world and how they play a part in everyone's lives. This is truly useful knowledge that can make a real difference to your future. So, check out the course today and start learning something really valuable.

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Learning Outcomes

After completing this course you will be able to:


  • Outline the various ways mortality risk can cause loss.
  • Explain the use of mortality tables and life expectancy tables, in assessing the probability of premature death.
  • Elucidate the risks associated with living past retirement age.
  • Discuss health risks, global health statistics and medical costs as part of life cycle risk.
  • Summarize the difference in benefits between early and late retirees.
  • List the benefits that are applicable to survivors of deceased insured workers.
  • Discuss how social security has moved from fully funded to pay-as-you-go.
  • Explain why extended life expectancy and lower birth rates causes a funding burden.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.

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