Standard
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BUS 141 Insurance and
Business Environment
This
course provides insight into the Life and Health Insurance Industry, describes
the organization companies and the corporate environment. This course consists of
the following modules: life ling leaning, life and health insurance overview,
business process operations, succeeding in the corporate environment,
introduction to medical terminology, and introduction to medical coding.
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Competency Areas: |
Hours: |
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Life Long Leaning |
Class |
5 |
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Life and Health Insurance
Overview |
D. Lab |
0 |
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Business Process
Operations |
P. Lab/O.B.I. |
0 |
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Succeeding in the
Corporate Environment |
Credit |
5 |
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Introduction to Medical
Terminology |
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Introduction
to Medical Coding |
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Prerequisite: |
None |
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Corequisite: |
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Course Guide
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Competency |
After completing this section, the student will: |
Hours |
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Class |
D. Lab
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P. Lab/ O.B.I. |
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LIFE LONG LEANING |
4 |
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0 |
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Understand how people
learn |
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Identify own learning
style preference |
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Identify ways to successfully
manage study time |
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Describe strategies for
effectively preparing for an assessment |
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Recognize the importance
of continually learning |
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Identify the importance of
taking responsibility for one’s own learning |
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Construct a plan for one’s
future professional development |
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Learn how internalizing
the desire for learning, and continuous training in a field of interest to take
charge of one’s life |
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Understand how taking
control on one’s professional development will maintain competitiveness and
enjoy one’s leisure time |
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LIFE AND HEALTH INSURANCE OVERVIEW |
21 |
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0 |
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Industry and products |
Describe why insurance
companies are organized as corporations |
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State the difference
between stock insurers and mutual insurers |
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Describe the connection
between an insurance company and the financial services industry |
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List and describe major
types of life and health insurance products |
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Describe the US Federal
Government’s role in regulating the insurance industry |
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Describe the state government’s
role in regulation the insurance industry |
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Define solvency regulation |
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Explain the difference
between domestic insurer and foreign insurer |
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Describe the role of National
Association of Insurance Commissioners (NAIC) |
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Give examples of pure
risks and speculative risks |
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Describe the
characteristics of an insurable risk |
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Determine of insurable interest
requirement is met in life and health insurance instances |
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List and describe the
people involved in the application and issuance of an insurance policy |
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Define types of risk
covered in this lesson |
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List and define types of
insurance contracts covered in this lesson |
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List the requirements of
an insurance contract |
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Describe a policyholder’s
property rights |
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Describe the difference between
individual policy and group policy |
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Identify reasons an
individual or business would purchase life insurance |
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List and briefly describe
types of life insurance and the coverage provided by each |
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List and briefly describe
types of supplemental benefits that life policies may provide |
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List and briefly describe
standard provisions for individual life insurance policies |
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List and describe common
life insurance exclusions |
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Given examples of claims,
determine who is entitled to receive benefits from applicable life insurance
policy |
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Define annuity, pension plan
and retirement savings plan and distinguish between each |
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Name three types of
retirement plans and identify each |
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Differentiate between a
defined contribution and defined benefit pension plan |
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Describe the benefits of
medical expense coverage and disability income coverage |
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Identify the most commonly
covered expenses of health insurance policies and most common exclusions |
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Explain the difference between
Medicare and Medicaid |
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Identify provisions common
to most group health insurance plans |
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Identify provisions common
to most individual health insurance plans |
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Identify morbidity risk factors
for group and individual health insurance plans |
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Distinguish between an HMO
and a PPO |
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Define coordination of
benefits and calculate benefits payable under this provision |
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Distinguish between total and
partial disability |
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Recognize causes of
disabilities that may be excluded from coverage under a disability policy |
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Identify the general characteristics
that distinguish supplemental life and health insurance policies from other
plans |
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List types of supplemental
policies covered in this lesson |
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Distinguish between benefits
of supplemental and traditional or managed care health programs |
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BUSINESS PROCESS OPERATIONS |
5 |
0
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Given an organizational
chart, identify the major functional areas and the chain of command |
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Identify primary responsibilities
of each functional area within a representative insurance company |
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Define and identify
internal and external customers |
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Define customer service and
identify who provides customer service in an insurance company (customer
touch points) |
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Describe how decisions in
one functional area impact customer service in other areas |
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SUCCEEDING IN THE CORPORATE ENVIRONMENT |
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