Personal Life Insurance Planning: Mistakes to Avoid


This course is intended to help life insurance producers identify, understand, and help prevent common errors, missteps, and mistakes that can result in unintended consequences for policyowners and their beneficiaries. The course examines errors that insurance producers may commit in their professional practice while assisting clients in planning for the future. It also examines mistakes commonly made by policyowners with the goal of equipping producers to help clients navigate their own personal life insurance planning decisions.

Learning Objectives

Upon conclusion of this course, the student will be able to:

  • understand why minors should not be named as policy beneficiaries
  • describe a Goodman Triangle and explain the tax consequences of creating a Goodman Triangle
  • explain the implications of naming an estate as beneficiary
  • understand the importance of updating beneficiaries and identify how benefit allocations can ensure that policyowners' goals are met
  • explain the transfer for value rule
  • understand how policy loans work and how loans may lead to policy lapses and unintended tax consequences

Designed For

Life and health insurance producers, financial planners and advisors

Find this course for your license:

License or Certification