Comprehension in Universal Life Course

Comprehension in Universal Life

Providing Policyholders with Flexible Way To Provide For Their Loved Ones

$8.00 + your state filing fee
4 Credit Hours

This course favors life insurance agents but is applied as general credit for all agents.

COURSE DIFFICULTY

Basic
This course covers the following topics:
  • Examine the history of universal life insurance
  • Give an introduction to the key policy provisions
  • Discuss the advantages and disadvantages to policy owners, agents, and insurance companies
  • Provide insight into designing universal life products that meet the needs of potential clients

Summary

Life insurance is an important policy package for many Americans today. This course will examine the history of universal life insurance, as well as giving an introduction to the key policy provisions. We will examine the advantages and disadvantages to policyowners, agents and insurance companies and provide you with insight into designing universal life products that meet the needs of your potential clients.

Outline

1. Introduction

  • 1.1 Purpose of Course
  • 1.2 A Changing Environment for Life Insurance
  • 1.3 Key Influences
  • 1.4 Summary
  • Affidavit of Personal Responsibility
  • Chapter 1 Quiz

2. General Design Features of the Universal Life Policy

  • 2.1 Introduction to Key Policy Provisions
  • 2.10 Calculation of Values
  • 2.11 Loans
  • 2.12 Termination Due to Insufficient Value
  • 2.13 Grace Period
  • 2.14 No-Lapse Guarantee
  • 2.15 Reinstatement
  • 2.16 Reduced Paid Up
  • 2.17 Summary
  • 2.2 Changes in Face Amount
  • 2.3 Death Benefit Option
  • 2.4 Corridor
  • 2.5 Premium Payments
  • 2.6 Premium Litigation
  • 2.7 Suicide
  • 2.8 Incontestability
  • 2.9 Maturity
  • Chapter 2 Quiz

3. Universal Life and Other Non-Traditional Products

  • 3.1 Universal Life Advantages and Disadvantages for the Policyholder
  • 3.2 Universal Life Advantages and Disadvantages for the Agent
  • 3.3 Universal Life Advantages and Disadvantages for the Company
  • 3.4 Other Non-Traditional Products
  • 3.5 Federal Income Taxation of Life Insurance
  • 3.6 Summary
  • Chapter 3 Quiz

4. Designing Universal Life Products

  • 4.1 Company Objective
  • 4.2 Compensation Design
  • 4.3 Product Design
  • 4.4 Example of a Universal Life Product
  • 4.5 Aspects of the Policy
  • 4.6 Rationale for this Policy Design
  • 4.7 Numerical Illustration of Company Pricing
  • 4.8 Summary
  • Chapter 4 Quiz

5. Earned and Credited Interest Rates

  • 5.1 Description
  • 5.2 Investment Strategy
  • 5.3 Rising Interest Rates
  • 5.4 Failing Interest Rates
  • 5.5 Summary
  • Chapter 5 Quiz

6. Using Universal Life to Emulate Other Life Insurance Products

  • 6.1 Introduction
  • 6.10 Future Product Needs
  • 6.11 Summary
  • 6.2 Agent Responsibilities
  • 6.3 Legal Sanctions for Transgressions
  • 6.4 Types of Transgressions
  • 6.5 Examples of Illegal Practices
  • 6.6 Insurance Fraud Cases
  • 6.7 Current Whole Life
  • 6.8 Life Cycle Programs
  • 6.9 Other Uses of Face Amount Adjustability
  • Chapter 6 Quiz

Final Exam

  • Final Exam

FAQ

Q: What should I expect from this online course?

A: We use a unique system to help you learn the material easily. Our online courses present you with information in large type that is easy to read. We highlight key items in gray and quiz you after each chapter to make sure you are learning critical information. You may review the material as much as you want before taking your required online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.

Q: Can I print my online course materials and test questions?

A: According to the state authority, it is not permissible to print or download any course material or exam questions. However, you are free to access all online courses from our website anytime.

Q: How long does it take to complete an online course?

A: The time required to complete an online course varies from student to student, but it roughly approximates the number of credit hours awarded for the course. You must pass an online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.

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