Covers the various life insurance solutions, including term life, permanent life, and group life.
NASBA Field of Study
This CPE course can be purchased individually or as part of the Risk Management and Insurance Planning Certificate Program.
The construction of a proposed life insurance solution in a personal financial plan is complex on several levels. As a personal financial planner, you must possess a broad range of knowledge of the various insurance solutions available to have a reasoned dialogue with your clients.
In this audiovisual CPE course, Tom Tillery will describe three different types of life insurance contracts: term life insurance, permanent life insurance, and group life insurance (group life insurance is covered in greater depth in the Group Insurance and Employee Benefits course).
This course covers:
- Optimal design of a policy
- Funding and withdrawal features
- Dividend options
- Nonforfeiture options
- Settlement options
Finally, taxation and tax planning topics will be addressed, including:
- Tax planning with life insurance
- Income taxation of life insurance
- Taxation at surrender of a contract
- Taxation of proceeds from a life insurance contract
- Transfer of value rules
- Section 1035 exchanges
- Integrating life insurance with the overall financial plan.
- CPAs and financial planners with basic knowledge of, and interest in, personal financial planning.
- Term, credit, permanent, universal
- Key features of life insurance
- Underwriting, design, funding, nonforfeiture, settlement, planning, practical aspects
- Taxation and tax planning with life insurance
- Integrating life insurance with the overall financial plan
- Recognize the various types of term life insurance.
- Identify the types of permanent life insurance.
- Select a waiver of premium rider based on specific facts and circumstances.
- Distinguish among the various types of life insurance riders.
- Identify the features of a permanent life insurance contract.
- Determine the taxation of distributions from a modified endowment contract.
- Select the appropriate dividend option based on the client's facts and circumstances.
- Calculate the death benefit of a life insurance contract.
- Identify exchanges of insurance contracts that qualify for IRC Section 1035 tax treatment.
- Select an estate planning strategy based on a client's specific facts and circumstances.
Group ordering for your team
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