Universal Life Insurance -- CLEQ

Overview

Before the introduction of universal life into the marketplace, life insurance policies were premium-dependent and had little, if any, flexibility. Universal life and variable universal life policies have expanded the use of insurance planning to include objectives of asset accumulation, tax planning, asset protection, retirement income, educational funding, and additional uses beyond the single focus on the death benefit.

This course describes the special characteristics and various applications of universal life and variable universal life policies. At the end of this course, insurance and financial professionals will understand the fundamental and important characteristics that separate universal life insurance from traditional whole life; how and when the universal life policy is best suited for the client's needs and objectives; responsibilities of designing premium strategies for specific policy goals; the guidance and purpose of regulatory parameters; and application of planning techniques with universal life policies.

Learning Objectives

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

  • describe the ways in which universal life is a much more flexible policy structure than traditional whole life insurance
  • analyze the components of the universal life policy including premiums, cash value, costs, and loads
  • detail your role in planning universal life policy premiums to meet clients' objectives
  • demonstrate the use of universal life insurance in financial planning for individuals and businesses
  • understand the tax treatment given to universal life insurance
  • contrast variable universal life insurance with universal life insurance

Designed For

Licensed life/health insurance producers; financial planners and advisors

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