Life Insurance Concepts -- CLEQ

Life Insurance Concepts examines the important concepts affecting life insurance, its uses, and taxation. The course considers the fundamental purposes of life insurance, including its use in the personal family market as a tool for income replacement, estate creation and conservation, and charitable gifting. The course examines the use of life insurance in the business market as a funding vehicle for buy-sell agreements, key executive benefits, and split-dollar plans. Students are introduced to the concept of a life insurance policy as a contract. Methods of determining life insurance needs in both the personal family market and business market are considered. The income tax treatment of life insurance concludes the course, with a look at the definition of life insurance contained in IRC § 7702, transfers for value, and taxation of split-dollar plans and life insurance policies included in qualified retirement plans.

The course covers the following topics:

  • Introduction to Life Insurance
  • Reasons For and Uses of Life Insurance
  • Life Insurance Concepts
  • Features of Life Insurance
  • Methods for Determining Life Insurance Needs
  • Concepts Affecting Life Insurance Taxation
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