This course explores the fundamentals of life insurance and how to manage life policies for high-net-worth clients. Starting with an overview of major life insurance terminology and policy types, the presentation dives into best practices on how to maintain a policy. It includes essential questions to discuss with your client, guidance on how and when to implement policy reviews, strategies for monitoring a policy, and different approaches to take if your client gets declined or wishes to sell their policy. CPAs will take away important lessons on integrating discussions of life insurance policies with their high-net-worth clients.
Learning Objectives
• Recognize the main differences, benefits, and drawbacks between the four major life insurance policy types.
• Identify policy reviews for managing your client
• s policy, to gain the tools on how to conduct a review, to be able to decide when is the best time to review a policy.
• Determine the processes of obtaining and maintaining a life insurance policy from the perspectives of the owner, the carrier, and the CPA.
Major Topics
• Foundations of Life Insurance for High-Net-Worth Clients
• Life Insurance Policy Lifecycle Overview
• Avoiding Pitfalls in Policy Management
