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Risk Management: Managing Life Cycle Risks - Revised

Risk Management
Free Course
Risk management helps identify, assess, and manage problems and is essential for the success of any business. In this free online Managing Life Cycle Risks course you are introduced to the factors that affect life risk, for example: age, health, employment, financial status and the environment. The course teaches you about the importance of risk management and the main steps of risk management which every business professional needs to know.
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  • 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 well-being. In this course you will be introduced to the factors that affect life risk, for example: age, health, financial status and environment. The handling of life risks is strongly correlated with key macroeconomic parameters such as: national savings, interest rates, the growth of the economy and demographic developments. Technological changes also influence political and social life.

You will examine the issues surrounding premature death and loss - primarily loss of income streams through mortality and how this affects others (family, employers etc). In addition, you will examine the financial and risk management aspects of old age and retirement planning. You will identify cost-reduction methods and health costs focused over a lifetime.

Risk is part of our daily lives and businesses. Learning how to manage risk and having the right insurance measures in place will make it easier for you when things go wrong. This Managing Life Cycle Risks course will help you identify and explore potential risks in managing factors that affect life risk (age, health, employment, financial status and the environment), so make sure to check it out and start learning how to control, prevent, and reduce losses that can result from risk.

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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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