( NO CE credit for this course) Pirce $33. Self-study

Program Description:

Personal Life Insurance Planning

Personal Life Insurance Planning examines the type of client data needed to determine minimum life insurance coverage requirements. It identifies the various lump-sum cash needs at the death of a breadwinner and provides guidelines to enable advisers to recommend life insurance in amounts that fully protect clients. It identifies typical surviving family income needs following a breadwinner’s death, and advisers learn how to calculate adequate survivor income and appropriate life insurance needed to provide required income. Social Security survivor benefits are discussed, including the Child’s benefit, the Mother’s or Father’s benefit, and Widow’s and Widower’s benefit.

Upon completion of this course, the student should be able to:

  1. Describe the early attempt to calculate appropriate life insurance amounts known as the human life value method.
  2. Understand the importance of basing client insurance requirements on a thoroughgoing analysis of needs.
  3. Gather the appropriate client information required to perform an insurance needs analysis.
  4. Identify and calculate a client’s family’s lump-sum needs at the death of a breadwinner.
  5. Understand the Social Security survivor benefits that need to be considered in analyzing survivors’ needs for life insurance to replace income.
  6. Identify and calculate survivors’ income needs during the dependency period, blackout period and retirement period.