Life Insurance, Annuity and Ethical Practices

Course Description

Life insurance is one of the most important tools in modern financial planning, but it is not always the most appreciated. In the purest sense, life insurance is something that pays a death benefit to someone when an insured person dies. The risk of an early death is evident to most of us, particularly when we have family obligations, dependent minor children to provide for, and unpaid debts. The need to cover expenses and replace lost family income if early death occurs may be the main reason why people purchase pure life insurance protection, but it is not the only reason people purchase life insurance products. This course will provide a review of the historical evolution of life insurance and into the 21st century, examining its many forms, other types of benefits, and making it the foundation for financial planning. Also included is a guide to understanding annuities, annuity tax laws and contract structure, and their suitability. The course ends with ethical practices which will provide the essentials of ethics, market conduct and compliance.

Learning Objectives

Upon completion of this course, you will be able to:

  • Define and describe life insurance.
  • Identify the approaches and products used by insurance producers/advisors to provide life insurance needs.
  • Determine the federal and estate taxation of life insurance.
  • Present the benefits of a tax-free 1035 exchange.
  • Determine the rights of creditors in insurance and annuity.
  • Present the history and basic use of annuities.
  • Define the various classifications and relative terms.
  • Assist clients in selecting suitable investment vehicles.
  • Calculate rates, charges, fees, and distribution.
  • Apply annuity tax laws and FINRA rules.
  • Identify the parties to an annuity contract.
  • Structure the contract to best benefit the client.
  • Navigate ethical dilemmas.
  • Reinforce ethical standards and principles.
Price:  $49.95
IWI Credit
Credit Hours: 10/2/0
Credit Type: Wealth Management
Provider: Broker Educational Sales & Training, Inc.
Provider #: 114861
Study Level: Intermediate
Exam Details
Monitored: None
Questions: 100
Passing Score: 70%
Retakes: Unlimited