Principles of Financial Planning: Insurance Planning

Principles of Financial Planning: Insurance Planning This course provides an in-depth overview of the different types of insurance (life, disability, long-term care) by positioning insurance as a potential risk management and liquidity “solution,” as well as an important resource for providing holistic solutions for clients. The structure of the course is designed to explore the risks that clients face in three stages of their financial lives – Wealth Accumulation, Wealth Maintenance and Wealth Transfer. By highlighting the issues and objectives that clients have in each stage, the course prioritizes the potential insurance solutions that may be appropriate to discuss with those clients. Both personal and business needs and solutions are considered. Key topics include: – Viewing insurance as a financial tool, not as a “product” – The key stages of the personal financial lifecycle – Identifying financial needs and optimal insurance solutions for people in different stages of their lifecycles – Overview of the range of personal insurance solutions – Term Life Insurance – Permanent Life Insurance • Traditional Whole Life • Universal Life • Variable Life • Variable Universal Life • Endowment Life – Common modifications and coverage options – Common Riders – Disability Insurance • Sick Leave Plans • Short-Term Disability Plans • Long-Term Disability Plans – The various considerations related to different policy structures – Taxation of Benefits – Business human capital risks – Business insurance solutions • Deferred Compensation • Split-Dollar • Key Person Life • Key Person Disability • Buy-Sell Agreements