Life insurance is a key financial product, with real benefits when you know how to use it properly. In the Essentials of Life Insurance course, we describe the various types of life insurance, how to determine the correct amount of it, the relevant advantages and disadvantages, and how to understand the intricacies of permanent life insurance. These and many other topics should give you a solid understanding of how life insurance can benefit you.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the various uses for life insurance.
Specify the concepts underlying how life insurance operates.
Identify the information sources to verify the medical information of life insurance applicants.
Specify how the incontestability clause works.
Identify the elements of a permanent life insurance policy.
Recall the advantages and disadvantages of both types of life insurance.
Specify the advantages and disadvantages of policy loans.
Specify how premium financing operates.
Recall the circumstances under which you can transfer ownership of a life insurance policy.
Major Topics
Types of Expenditures Requiring Life Insurance Coverage
How Much Life Insurance is Enough?
Expectations for Life Duration
The Life Insurance Underwriting Process
Types of Life Insurance
Term Life vs. Permanent Life Insurance
Useful Policy Riders
Tax Implications of Life Insurance
Transferring Policy Ownership
The Selection of a Life Insurance Company
Determining the Amount of an Insurance Payout
Obtaining a Claim Payout
Accounting for Business-Owned Life Insurance
