Life Insurance Concepts -- CLEQ

Overview

Life Insurance Concepts examines the important principles affecting life insurance and its many application. The course explains 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, and its use in business market as a funding vehicle for buy-sell agreements, key executive benefits, and split-dollar plans.

Methods of determining life insurance needs in both the personal family market and business market are considered. The course concludes with an explanation of the tax treatment of life insurance.

Learning Objectives

Upon conclusion of this course, students will be able to:

  • describe how life insurance originated and the primary reasons why life insurance is an invaluable purchase for most people
  • explain the legal implications of life insurance as a contract and other special life insurance concepts
  • cite the factors in determining premiums and understand how the cash value of a life insurance policy can be put to a variety of uses
  • identify specific methods and factors involved in calculating not only individual and family life insurance but also business and key person life insurance
  • understand the concepts that affect the income tax treatment of life insurance policies

Designed For

Life and health insurance producers
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