FINC 352: Life and Health Insurance

FINC 352 at the University of Maryland Global Campus is a three-credit study of the tools and principles of life and health insurance in financial planning for businesses and individuals. UMGC notes that students may receive credit for only one of BMGT 347 or FINC 352.

The goal, per the catalog, is to assess personal needs and decide which types of life and health plans fit best. Topics include pension planning strategies such as deferred-compensation and profit-sharing plans, the use of trusts in business and in planning estates, and the effects of income, estate and gift taxes on life insurance and estate planning.

The course is a prerequisite for FINC 490, so students planning financial planning careers need it. The difficulty is combining insurance, tax and legal ideas in one recommendation.

What FINC 352 Covers

Key Concepts with Worked Examples

Estimating Life Insurance Need

A common method adds the funds a family would need and subtracts existing resources.

Term Versus Permanent Insurance

Term cover is for a set period and is usually cheaper at the start. Permanent cover lasts for life and builds cash value, at higher cost. Match the type to the need: a temporary need such as a mortgage suits term; a lifelong need such as estate liquidity may suit permanent.

Why Taxes Matter

Whether premiums, proceeds and transfers are taxed shapes the best structure. Describe the principle and cite current rules for your jurisdiction, because figures and thresholds change.

Typical Assignments and How to Approach Them

UMGC's public page lists no assessments. This table shows typical work for the course; follow your syllabus.

Comparing Cover Types

Use a comparison table to prepare for case questions. This outline is a general summary; confirm details in your text.

For each case, state the need first, then choose the type, then discuss cost and tax treatment.

A Second Example: Deferred Compensation in Context

An owner wants to keep a key manager by promising extra income at retirement. A deferred-compensation arrangement promises future payments, and the business may fund the promise with life insurance on the manager.

A case answer should explain the goal, how the arrangement works, what each party gets and risks, and the tax treatment as described in your course materials. Avoid stating tax outcomes you cannot cite, because rules differ by plan type and change over time.

Where Students Get Stuck

• Jargon. Define terms the first time you use them.
• Dated tax figures. Check current rules and cite the source.
• Recommending a product without a need. Always begin with the gap.
• Mixing business and personal uses. Keep the two cases separate.

Study Tips for FINC 352

• Make a comparison table of term, whole life and health coverage types.
• Practice the needs analysis with different families.
• Keep a glossary of trust and pension terms.
• Note that the course content is general education, not advice for a real person.

How We Help with FINC 352

Send the case, readings and rubric. A finance writer can prepare a worked needs analysis or paper, or review your draft for logic and clarity. See our finance assignment help guide.

GradeEssays is independent of the University of Maryland Global Campus. Our work is for study and reference and is not personal insurance or tax advice; submit your own work under UMGC's academic integrity policy. Orders are written from scratch, with free revisions within the scope of your original request and a full refund if late.