Discussion in 'Financial Planning Study Group' started by Michael67, 3rd Oct, 2016.
if anyone needs help with this assignment let me know. Case study is the Dalgars
How much do Kaplan charge to do the Financial planner course?
Is this the same school in goulburn street?
Hi I really need some help with the CIMER and recommended sum insured.
Maybe post the question/s you have about the assignment directly here? You might receive help from others as well, that way.
Is DFP2 still insurance?
It's been years since i did it, but happy help if someone posts the actual question.
Its the Life Insurance subject. My problem is that I believe I have done it all properly and filled out the CIMER. but I would like someone to look over it for me. Thats why I asked if i could email you.
CIMER... never heard of that acronym before... sounds rather wanky.
Had to google its meaning.... Interesting way they have used to quantify the different variables.
An alternate way to look at it is,
"how screwed would your family be if you died"
then ask why they would screwed
I would really appreciate any help with it if your still offering. Many thanks!!!
I too am doing the Dalgar assignment..just trying to suss out how to calculate the 'unpaid spousal duties' amount for the CIMER. I saw this in the example CIMER in the study notes so thought it prob ought to be included in the assignment
Hi Nek and All
I ran into this in 1974 when I was an Engineer and did an intro course with MLC Life - it's a Mnemonic for "Cleanup, Income, Mortgage, Education and Retirement". It keeps the consultant and client on track and directs them to Needs Based financial solutions for the client. It is a simple way to address the clients needs and help to find solutions within a budget framework and build a relationship to employ the clients help in his solutions. A simple way to build a JV as partners.
I used it exclusively from my start and adapted it to business insurance solutions later.
It is very well accepted by persons who work in logical decision making processes such as Engineers, Architects and Accountants all professions that will also give you referrals.
Maybe if you do a search for MLC Cimer you may find some help?
About getting help with FP Courses - just an important note that all these courses require the student to provide his won work and answers. When you get out into the world and your with a client there is not usually a mentor with you - yr on yr own!
Hi Nad and All
The process is to calculate how much would it cost each week to pay for child, home and other spouse related duties and capitalise the cost at a reasonable interest rate to arrive at the Sum Insured for the spouse duties replacement. Usually this would be done by way of a “rider" attachment which was reducing temporary insurance for the child/s dependency period. Similar to a reducing mortgage insurance contract which costs less than a level or increasing Sum Insured.
I have just completed & passed this assignment on my first attempt - woo hoo!
If anyone needs any help I'd be happy to try and answer any questions
Hi, I am currently trying to complete the DFP2 - stuck on questions 4B - researching 3 different insurance products. I have completed my CIMER table etc earlier in the assignment, and have gone onto the website 'compare the market' and this has given me a whole heap of insurance products and premiums etc - but I am stuck on how to actually compare. The inclusions and exclusions listed on them all seem fairly similar, so do I just look at the cheapest 3 premiums? There are well known insurance provides such as AIA, TAL, AMP etc. help! thank you
Hi Minty,I am working on the CIMER table and wanted some help on the same.While calculating the trauma insurance needs for Stephan I am getting a negative answer.Is it correct ?
Hello nek and All
CIMER is an Nmemonic and stands for:
Cleanup - Money needed on death for bills and burial/cremation and dont forget the wake!
Income - Capitalisation over a set dependancy period until kids are grown
Mortgage - Insurance to pay out mortgage
Education - the kids education funding
Retirement - Retire when you have survived and done all the above
Its a Personal planned needs based sale process and works well because clients appreciate the logic and the facts - its all about them not You..
Hope that helps ??
I'd love some assistance. Think it's a similar case study just with names and figures changed to Smyth now.
Would love some assistance if you can.
Separate names with a comma.