Description
This course provides a comprehensive look at the life insurance industry. The first
section of the course focuses on general information about insurance, including
insurance regulation, insurance law, underwriting basics, and group insurance. The
second section explains life insurance, including selling life insurance, policy issuance
and delivery, types of insurance policies, policy provisions, policy options, annuities,
group life insurance, Social Security and tax considerations, and retirement plans.
Review questions conclude each unit. Topics include an introduction to life insurance,
the need for life insurance, permanent insurance, term insurance, annuities, policy
provisions, riders, premiums, dividends, nonforfeiture and settlement options, policy
loans, insurance applications, underwriting, claims, group life insurance, business
Learning Objectives
1. Explain the underwriting factors commonly used in the life underwriting process.
2. Differentiate between term, whole life, variable, universal, and VUL policies and
select the most appropriate type of coverage to match a client's specific circumstances.
3. Calculate a client’s insurance needs using alternative approaches, including the
capital needs, human life value, capital retention, income retention, and income
multiplier methods.
4. Recommend whether a policy should be replaced based upon quantitative and
qualitative factors.
5. Describe common life insurance termination options.
6. Recommend life insurance purchase and benefits distribution options based upon
needs, financial resources, and cost.