Life insurance can take many forms, and producers should have a solid understanding of each to ensure that prospects and clients are best served with suitable and appropriate recommendations and placements. This course covers the features, benefits, and provisions of the most common types of policies and explains their application for both personal and business uses. The structure of each policy form is examined in detail, with emphasis on the relationship between a policy's features and its benefits.

The course also addresses the important topic of life insurance taxation and explains the distinction between life insurance policies and modified endowment contracts.

Upon conclusion of this course, students will understand:

• the various ways in which life insurance can be used for both personal and business needs
• the features, characteristics, and application of whole life, term life, universal life, variable life, variable universal life, single premium life, MECs, and survivorship life
• the tax treatment of life insurance policies and proceeds