I Want to Hold Your Hand: Working with Elders

An extended insurance course that tackles the key issues surrounding elder life and health insurance, and the essential ethics needed to help the elderly population.

$24.00 + your state filing fee
12 Credit Hours

This course favors L&H insurance agents but is applied as general credit for all agents.

COURSE DIFFICULTY

INTERMEDIATE
This course covers the following topics:
  • An overview of life insurance types and how insurance producers can assist senior clients in selecting the best type of life insurance, using various approaches to identify client needs.
  • A look at retirement planning considerations for seniors, specifically focusing on annuities and social security coverage.
  • A deep dive into health insurance and an in-depth look at long-term care for seniors and the role Medicare, Medigap, and Medicaid, and Long-Term Care Insurance play in this critically important stage.
  • A discussion on ethics when dealing with seniors

Summary

This course is designed to help walk individuals through the process of planning wisely today to tackle the uncertainty of tomorrow. The first section of the course will begin by giving an overview of life insurance types. The course will then walk through how insurance producers can assist senior clients in selecting the best type of life insurance, using various approaches to identify client needs. From there the course will transition into retirement planning considerations for seniors, specifically focusing on annuities and social security coverage. The second portion of the course will tackle health insurance. It will provide a basic understanding of the four different parts of Medicare and then examine the importance of Medigap – and how it can fill the voids that Medicare leaves behind. This will lead to a more in-depth look at long-term care for seniors and the role Medicare, Medigap, and Medicaid and Long-Term Care Insurance play in this critically important stage. The course will conclude with a section on ethics when dealing with seniors, as this is of overarching importance when discussing all the topics covered in the course.

Outline

1. Life Insurance Options and Tax Benefits: Introduction to Life Insurance

  • 1.1 Overview
  • 1.2 Purpose of the Course
  • 1.3 Life Insurance Comparison
  • 1.4 Summary
  • Chapter 1 Quiz

2. Life Insurance Options and Tax Benefits: Types of Life Insurance

  • 2.1 A Closer Look at Permanent Life
  • 2.2 Types of Permanent Life Insurance
  • 2.3 A Closer Look at Term Life
  • 2.4 Types of Term Life Insurance
  • 2.5 Summary
  • Chapter 2 Quiz

3. Life Insurance Options and Tax Benefits: Life Insurance Planning

  • 3.1 Steps of the Life Insurance Selling/Planning Process
  • 3.2 Approaches the Calculating an Individual’s Life Insurance Needs
  • 3.3 The Multiple of Income Approach
  • 3.4 The Human Value Approach
  • 3.5 The Needs Approach
  • 3.6 Summary
  • Chapter 3 Quiz

4. Life Insurance Options and Tax Benefits: Determining Income Needs at Death

  • 4.1 Overview
  • 4.2 During What Periods is Extra Income Needed?
  • 4.3 Estimating Survivor Income Needs
  • 4.4 How Much Future Income Does My Client’s Survivors Need?
  • 4.5 Summary
  • Chapter 4 Quiz

5. Life Insurance Options and Tax Benefits: Comparing and Selecting Life Insurance Policies

  • 5.1 Overview
  • 5.2 When to Suggest Term Life Insurance
  • 5.3 Strategies to Using Term Life Policies
  • 5.4 When to Suggest Permanent Life Insurance
  • 5.5 Summary
  • Chapter 5 Quiz

6. Life Insurance Options and Tax Benefits: Life Insurance Tax Benefits

  • 6.1 Overview
  • 6.2 Tax Treatment of Policy Premiums
  • 6.3 Tax Treatment of Death Benefits
  • 6.4 All About Estate Taxes
  • 6.5 Summary
  • Chapter 6 Quiz

7. Retirement Considerations: Annuities

  • 7.1 Overview
  • 7.2 Understanding Annuities
  • 7.3 Types of Annuities
  • 7.4 Election of Payment Options
  • 7.5 Summary
  • Chapter 7 Quiz

8. Retirement Considerations: Social Security Benefits

  • 8.1 Overview
  • 8.2 Funding Social Security
  • 8.3 Social Security Eligibility Requirements
  • 8.4 Applying for Social Security Benefits
  • 8.5 Calculating Social Security Benefits
  • 8.6 How Much Income Does an Individual Need for Retirement?
  • 8.7 How Social Security Benefits are Paid
  • 8.8 Summary
  • Chapter 8 Quiz

9. Retirement Considerations: Determining When to Claim Social Security Benefits

  • 9.1 Overview
  • 9.2 What Factors into an Individual’s Decision to Claim Social Security?
  • 9.3 Personal Financial Situation
  • 9.4 Marital Status
  • 9.5 Estimated Life Expectancy and Break-Even Age
  • 9.6 Extended Employment
  • 9.7 Risk Tolerance
  • 9.8 What Clients Should Do Now to Prepare for Tomorrow
  • 9.9 Revoking or Suspending a Claim
  • 9.10 Summary
  • Chapter 9 Quiz

10. Retirement Considerations: Understanding the Social Security Survivors Benefit

  • 10.1 Overview
  • 10.2 Who Earns Survivors Benefits?
  • 10.3 Calculating Survivors Benefits
  • 10.4 Currently and Fully Insured Survivors Benefits
  • 10.5 Maximizing Social Security Benefits for Surviving Spouses
  • 10.6 Understanding the Mother’s/Father’s Benefit
  • 10.7 Understanding the Child’s Benefit
  • 10.8 Understanding the Widower’s Benefit
  • 10.9 Applying for Social Security Survivors Benefits
  • 10.10 Summary
  • Chapter 10 Quiz

11. Health Insurance - Medicare and Medigap: Medicare Components

  • 11.1 Medicare Overview
  • 11.2 Medicare Part A
  • 11.3 Medicare Part B
  • 11.4 Gaps of Medicare A and B
  • 11.5 Expanding Medicare with Parts C and D
  • 11.6 Medicare Part C (Medicare Advantage)
  • 11.7 Medicare Part D (Prescription Drugs)
  • 11.8 Summary
  • Chapter 11 Quiz

12. Health Insurance - Medicare and Medigap: Bridging the Gaps - Medicare Supplement Insurance

  • 12.1 Overview
  • 12.2 Medigap Policies Standardized Benefits
  • 12.3 Medigap: The Plans
  • 12.4 Medigap Enrollment
  • 12.5 Comparison with Medicare Advantage Plans
  • 12.6 State of Medigap Today
  • 12.7 Medicare Select Policies
  • 12.8 Summary
  • Chapter 12 Quiz

13. Long-Term Care: Understanding Long-Term Care

  • 13.1 Overview
  • 13.2 Long-Term Care: The Basics
  • 13.3 Activities of Daily Living and Instrumental Activities of Daily Living
  • 13.4 Who Needs Long-Term Care?
  • 13.5 The Cost of Long-Term Care
  • 13.6 Summary
  • Chapter 13 Quiz

14. Long-Term Care: Long-Term Care - The Providers and Services

  • 14.1 Overview
  • 14.2 Levels of Long-Term Care
  • 14.3 Long-Term Care Settings
  • 14.4 Home-Based Care
  • 14.5 Community-Based Care
  • 14.6 Facility-Based Care
  • 14.7 Summary
  • Chapter 14 Quiz

15. Long-Term Care: Medicaid, Medicare, Medigap and Long-Term Care

  • 15.1 Medicaid Spending
  • 15.2 Medicaid 101
  • 15.3 Medicaid and Long-Term Care
  • 15.4 Medicaid’s Income and Asset Requirements
  • 15.5 “Spend Down”
  • 15.6 Spousal Impoverishment Protection
  • 15.7 Estate Recovery
  • 15.8 Summary
  • Chapter 15 Quiz

16. Long-Term Care: Understanding Long-Term Care Insurance

  • 16.1 Overview
  • 16.2 Long-Term Care Insurance Policies and Coverage
  • 16.3 Benefits and Premiums
  • 16.4 Who Should Buy Long-Term Care Insurance, and When?
  • 16.5 Individual vs. Group Long-Term Care Insurance
  • 16.6 Tax-Qualified and Non-Tax-Qualified Policies
  • 16.7 Summary
  • Chapter 16 Quiz

17. Insurance Ethics in the Senior Marketplace: Understanding the Senior Market

  • 17.1 Overview
  • 17.2 Purpose of the Section
  • 17.3 Defining “Seniors”
  • 17.4 Ethical Considerations in the Senior Market
  • 17.5 Key Issues Facing Seniors
  • 17.6 The Declining of Traditional Sources of Retirement Income
  • 17.7 Understanding Senior’s Needs and Goals
  • 17.8 Summary
  • Chapter 17 Quiz

18. Insurance Ethics in the Senior Marketplace: Working with the Senior Demographic

  • 18.1 Overview
  • 18.2 Helping Seniors Adapt During the Transition
  • 18.3 Understanding the Impact of Aging on Decision Making
  • 18.4 Trust, Loyalty and How Seniors Search for Information
  • 18.5 Key Qualities Seniors Seek in Financial Advisors
  • 18.6 Effectively Communicating with Seniors
  • 18.7 Cognitive Changes in Seniors
  • 18.8 Identifying the “Red Flags” of Cognitive Impairment
  • 18.9 Summary
  • Chapter 18 Quiz

19. Insurance Ethics in the Senior Marketplace: Protecting Seniors from Financial Abuse

  • 19.1 Overview
  • 19.2 Other Forms of Senior Abuse
  • 19.3 Common Examples of Elderly Scams
  • 19.4 Statistics Regarding Seniors and Financial Abuse
  • 19.5 Signs of Financial Abuse in Seniors
  • 19.6 Elder Abuse Legislation
  • 19.7 Producer Responsibility in Protecting Seniors from Financial Abuse
  • 19.8 Summary
  • Chapter 19 Quiz

20. Insurance Ethics in the Senior Marketplace: Ethical Responsibilities While Working with a Senior Market

  • 20.1 Overview
  • 20.2 The Trend of Senior Designations and Regulations
  • 20.3 Senior Designation Table
  • 20.4 Best Practices, Policies and Procedures in Working with Seniors
  • 20.5 NASAA Model Act and State Laws
  • 20.6 Adhering to a Code of Ethics
  • 20.7 Designing an Eldercare Network to Best Serve Your Clients
  • 20.8 Summary
  • Chapter 20 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.