Self-Study Course Details
Course Description
In this course you will be introduced to terms and concepts used in connection with personal life insurance planning. This information is important for agents selling insurance products to customers and for advisers assessing the appropriateness of a life insurance recommendation for a client. An understanding of the methods used to determine suitable life insurance amounts to meet survivors’ lump-sum cash needs and income needs will assist the agent and adviser to better serve consumers and help ensure that appropriate life insurance amounts are recommended and purchased when they are suitable to meet client needs.
Learning Objectives
- Identify the early attempt to calculate appropriate life insurance amounts known as the human life value method.
- Understand the importance of basing client insurance requirements on a thoroughgoing analysis of needs.
- Learn how to gather the appropriate client information required to perform an insurance needs analysis.
- Identify and calculate a client’s family’s lump-sum needs at the death of a breadwinner and survivors’ income needs during the dependency period, blackout period and retirement period.
- Understand the Social Security survivor benefits that need to be considered in analyzing survivors’ needs for life insurance to replace income.
Prerequisites
- None
Advanced Preparation
None
Author Details
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Paul Winn
Paul J. Winn CLU ChFc is a financial writer, editor and trainer in the insurance industry. Past positions have included product developer, compensation officer, marketing VP, VP of strategic planning as well as being President of Maryland Financial Corporation. Mr. Winn has served on multiple Insurance Industry Boards including Baltimore Chapter of CLU and ChFC and Member/Secretary, Advisory Board to New York State Insurance Department. He is well known as a writer and editor of major mutual life insurance company’s agent-training ”university” and has created more than 100 training/continuing education courses. He is also a published book author.
NASBA Sponsor
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Encoursa is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
$55.00
CPE
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Self-Study: CPE certificates will be accessible through your dashboard immediately after passing the qualified assessment.
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