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The Life Insurance Policy Contract

Overview

Life insurance policies are legal contracts, and it is vital that insurance professionals are familiar with the terms and conditions. Since insurance professionals play a key role in facilitating what these agreements mean and having a strong knowledge of the contract elements it will allow them to explain the coverage, safeguard accurate applications, and evaluate policy implementation. This course focuses on the contract features, provisions, and riders found in life insurance policies. 

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 


Learning Objectives

  • Understand the ways in which life insurance policies are similar to, and different from, other types of contracts
  • Explain the doctrine of insurable interest and its importance in determining the validity of a life insurance contract
  • Describe commonly available riders and how they may enhance or limit the basic policy benefit
  • Understand the options available to policyowners when naming beneficiaries and allocating death benefits 
  • Explain the circumstances under which life insurers may avoid liability for paying the death benefit under a life insurance contract
  • Understand the importance of reviewing and considering specific provisions within life insurance policies when conducting policy reviews with existing clients


Designed For:

This course is designed for insurance agents and brokers who produce life insurance products. 




Course Information

Adding additional credit may change exam requirements.