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URGENT HELP!!! Q 5- risk management assignment

Discussion in 'Financial Planning Study Group' started by bel84, 17th Sep, 2011.

  1. bel84

    bel84 New Member

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    22nd Jan, 2011
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    gladstone qld
    Hi I was wondering if anyone else had completed q5 in the risk management assignment? I know that the four common conditions are heart attack, stoke, cancer & open heart surgery. The next part of the question:

    "Identify two policies that are available to the market and discuss how the definitions of these conditions vary across the two policies. Include the policy definitions in your answer."

    I am completely stumped. I have looked at the definitions for two different trauma policies in the AXA and Onepath pds's but i just am struggling to know how to compare them and see how they vary. To be the seem to be the same? This might sound silly but really this question has me stumped and im unsure how I should be tackling the answer for this. if anyone has any advice I would REALLY appreciate it!!!
    Thanks!!
     
  2. WlksW

    WlksW Member

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    Hi there

    Do you work in the industry and if so, what fin planning software do you use? This question becomes pretty easy if you use software such as visiplan or xplan because they have risk researcher modules that do direct ratings comparisons of all risk products.

    From this you can find policies where the ratings for various conditions differ then actually go in and look at the specific policy extracts. When you compare one with an A rating against one with a B rating it becomes clear why the A rated policy is better. Without this being directed straight to the extract it can be a pretty tough slog through the PDS documents.

    Hope this helps.
     
  3. bel84

    bel84 New Member

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    Hi yes I do work in the industry, I use Xplan. Thanks so much for your help, that will make it so much easier! lol dont know why i didnt think of that.
    Yes trying to read through the pds's makes it tough as there is just so much in them, im finding it interesting though getting more into the details of what is covered and whats not. Nothing like building up the skills!
    Thanks again, I really appreciate your help!
     
  4. WlksW

    WlksW Member

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    No problem at all - on the risk researcher module there is a section called qualititive analysis and then a sub-section called 'compare policies'. This allows you to select a number of policies available in the market for direct comparison. Best to pick a decent one like Asteron vs a not so good one which you might never use!! That way you will have some big differences and something to talk about.

    Good luck with it.
     
  5. Pragya_C

    Pragya_C Member

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    hey I do not work with with industry at this stage....and asked to resubmit RM Q5 Could you please help me I was trying to compare between Allianz life plan & MLC life cover super .... I am new here Could you please help me....much appreciate your help....Thanks for your help in advance..... :)
     
  6. Chandhani2012

    Chandhani2012 Member

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    Hi pragya,
    Got the answer for this? if not do let me know. i have competed the assignment.
     
  7. Pragya_C

    Pragya_C Member

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    hey Chandhani

    Thanks dear.....cleared my exam long back.......doing my IM assignment.....
     
  8. Chandhani2012

    Chandhani2012 Member

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    Oh thats great :) i have to repeat CS 1 of risk assignment. could you please help me? i have sent you a mail as well BTW.

    you mean IP1 assignment?
     
  9. shawti

    shawti Member

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    Location:
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    I don't work in the industry either and am struggling to find policies that have different definitions. They all seem to be pretty stock standard!