Course Information

Insurance CE > Louisiana > Life / Health

Irrevocable Life Insurance Trusts

Overview

The irrevocable life insurance trust (ILIT) is one of the most widely used estate planning tools. Those who work in the estate planning field-or any professional who wants to extend his or her practice into this arena-should become knowledgeable about ILITs, and how and why they are used. The purpose of this course is to provide a general understanding of trusts and how they work, with a specific focus on irrevocable life insurance trusts. Along with an exploration of ILITs, the course explains collateral issues that might arise in their creation and operation including a number of important tax-related issues.

Summary Details

Hours

3.0

Price

$14.95

4.68 (988 Ratings)

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Learning Objectives

Demonstrate an understanding of the basic nature of trusts and the various ways in which they can be described
Identify the parties to a trust, as well as their roles and responsibilities
Outline how to fund an ILIT with a new life insurance policy and describe the kind of life insurance policy that should be used as a funding vehicle
Demonstrate an understanding of the basic estate planning benefits that can be derived from utilizing an ILIT
Compare the potential advantages and disadvantages of utilizing an ILIT for estate-planning purposes
Recall how the grantor trust rules, the kiddie tax, the generation-skipping transfer tax, and the rule against perpetuities, among others, may affect an ILIT

Designed For:

Life and health insurance producers and finance professionals

Important Study Requirements: The Louisiana DOI does not permit agents to access the final exam until the student's time in the course equals the number of approved credit hours. The course must be stopped if the student is inactive for more than 30 minutes.

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Course Information

Adding additional credit may change exam requirements.

Access Period:	12 months
Prerequisites:	General knowledge of common types of trusts and life insurance policies
Advanced Preparation:	None
Delivery Method:	Self-Study
PDF Download:	Not Available
Course Approval Number:	29783
Provider of Record:	WebCE
Provider Number:	9550-C
Field of Study:	Specialized Knowledge
Last Reviewed:	March 2025
Study Level:	Advanced
Approved For:	Life / Health

Exam

Proctor:	No
Passing Grade:	70
Questions:	25

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