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. Advisers learn 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, you should be able to:
- Understand the importance of basing client insurance requirements on a thoroughgoing analysis of needs.
- Gather the appropriate client information required to perform an insurance needs analysis.
- Identify and calculate a client’s family’s lump-sum needs at the death of a breadwinner.
- Understand the Social Security survivor benefits that need to be considered in analyzing survivors’ needs for life insurance to replace income.
- Identify and calculate survivors’ income needs during the dependency period, blackout period and retirement period.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 3
Recommended field of study – Insurance/Financial Planning/Ethics
Copyright 2024 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 3 Recommended field of study - Insurance/Financial Planning/Ethics
