CFP® Module 3 — Risk Management & Insurance Specialist
Identifying risk, sizing protection, structuring life and non-life cover, and the integration of insurance into a household financial plan.
Quick info
- Layer
- Professional Certifications
- Track
- CFP® (FPSB India)
- Estimated hours
- 50 hrs
- Chapters
- 9
- Exam body
- FPSB India
- Cost on Trustner
- Free
Every chapter below has Foundation, Deep Dive, and Advanced material — read in any order, expand each chapter to see the full content.
About this course
CFP Module 3 — Risk Management & Insurance Specialist — covers what insurance does in a household financial plan and how to structure it correctly. Most Indian households are simultaneously over-insured (ULIP, endowment) and under-insured (term, health). The CFP's job is to fix this with rigorous needs analysis, product knowledge, and integration with the broader financial plan.
Who this is for
- CFP candidates mid-pathway.
- Insurance brokers professionalising into financial planners.
- CAs adding the risk-management overlay to tax practice.
- NISM 22 candidates wanting deeper grounding.
What you'll learn
- Risk identification and quantification at the household level
- Life-insurance product types — term, endowment, ULIP, money-back, whole-life
- Sum-assured calculation methods
- Health-insurance design — base, top-up, super top-up, family floater
- Motor, home, travel, professional indemnity, and liability cover
- Claims process, mis-selling, and IRDAI grievance machinery
- Insurance-portfolio integration with broader plan
Course material — 9 chapters
Each chapter offers three tiers — Foundation for the core concept, Deep Dive for worked examples and practitioner depth, and Advanced for edge cases and exam tips. Click any chapter to expand.
- 1Module 3.1
Risk in personal finance
- Risk types — life, health, property, liability
- Exposure quantification techniques
✓ Full chapter — read, examples, FAQ, MCQs - 2Module 3.2
Life insurance
- Term, whole-life, endowment, ULIP, money-back
- Why pure term is the right default
✓ Full chapter — read, examples, FAQ, MCQs - 3Module 3.3
Sum-assured calculation
- Income-replacement and needs-based methods
- Riders and when they help
✓ Full chapter — read, examples, FAQ, MCQs - 4Module 3.4
Health insurance
- Indemnity vs benefit plans
- Sum insured, sub-limits, room rent caps, co-pays
✓ Full chapter — read, examples, FAQ, MCQs - 5Module 3.5
Senior-citizen and PED considerations
- Pre-existing disease waiting periods
- Senior-specific products
✓ Full chapter — read, examples, FAQ, MCQs - 6Module 3.6
General insurance
- Motor — TP, OD, comprehensive
- Home, travel, personal accident
✓ Full chapter — read, examples, FAQ, MCQs - 7Module 3.7
Professional and liability cover
- Professional indemnity for self-employed
- D&O, public liability, cyber
✓ Full chapter — read, examples, FAQ, MCQs - 8Module 3.8
Claim process and disputes
- Documentation discipline
- Insurance Ombudsman, IRDAI Bima Bharosa
✓ Full chapter — read, examples, FAQ, MCQs - 9Module 3.9
Insurance-portfolio integration
- Where insurance fits in the household plan
- Surrender vs paid-up vs continue legacy policies
✓ Full chapter — read, examples, FAQ, MCQs
About the exam
- Provider
- FPSB India
Note: Specialist Module 3 — Risk Management & Insurance. Required for CFP® certification.
The exam is administered by FPSB India. Trustner Academy is not affiliated with FPSB India; we provide independent preparatory educational material. See our disclaimer.
More from CFP® (FPSB India)
CFP® Module 1 — Investment Planning Specialist
FPSB India's foundation — investment vehicles, asset allocation, portfolio construction, performance measurement. The first specialist module on the path to CFP certification.
CFP® Module 2 — Retirement & Tax Planning Specialist
Retirement planning and Indian taxation in depth — NPS, EPF, annuities, capital gains, deductions, and the case-driven planning that CFP candidates must master.
CFP® Module 4 — Estate Planning Specialist
Wills, trusts, succession laws across faiths, intestate distribution, gift planning, and the complex inter-generational structures that high-net-worth Indian families need.
CFP® Module 5 — Integrated Financial Planning (Capstone)
The capstone case-study module. A complete financial plan from cash-flow analysis to estate transfer, integrating every prior specialist domain. Required for full CFP® certification.