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| Author : | Paul Winn, CLU, ChFC |
| Course Length : | Pages: 46 ||| Word Count: 18,419 ||| Review Questions: 16 ||| Final Exam Questions: 15 |
| CPE Credits : | 3.0 |
| IRS Credits : | 0 |
| Price : | $26.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Specialized Knowledge - Specialized Knowledge for Course Id 2467 |
| Description : | 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. |
| Usage Rank : | 20000 |
| Release : | 2025 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Life Insurance: What It Is, How It Works, and How To Buy a Policy
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 25-Jan-2025 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 2467 |
| Keywords : | Specialized Knowledge, Personal, Life, Insurance, Planning, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives Upon completion of this course, the student should be able to:
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. Chapter 1 Chapter 2 When you have completed this chapter you should be able to:
Chapter 3 When you have completed this chapter you should be able to:
Chapter 4 When you have completed this chapter you should be able to:
Chapter 5 When you have completed this chapter you should be able to:
Chapter 6 When you have completed this chapter you should be able to:
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| Course Contents : | Course Learning Objectives How You Will Learn Why This Information is Important and How You Can Use It Chapter 1 - Introduction to Human Life Value & Needs Analysis Chapter Learning Objectives Important Lesson Points Determining Insurance Amounts — Human Life Value Capitalized Value of Net Earnings Human Life Value Case Study Bill Jones’ Life Insurance Need — Human Life Value Approach Human Life Value Limitations Determining Insurance Amounts — Advantages of Insurance Needs Analysis Summary Test Your Comprehension - Chapter 1 Chapter 2 - Gathering Client Information for Needs Analysis Chapter Learning Objectives Important Lesson Points Required Data Current Income Accumulated Assets Liabilities Goals and Objectives Risk Profile Building Rapport and Creating Trust Responsive Listening Establishing Credibility Effective Information Gathering Summary Test Your Comprehension - Chapter 2 Chapter 3 - Identifying and Calculating Lump-Sum Financial Needs at Death Chapter Learning Objectives Important Lesson Points Lump-Sum Cash Needs Burial & Final Medical Expenses Estate Administration Costs Federal & State Taxes One Month’s Current Income Consumer Debt Liquidation Emergency Fund Mortgage Redemption or Rental Payment Fund Dependent Care Education Summary Test Your Comprehension - Chapter 3 Chapter 4 - Social Security Survivor Benefits Chapter Learning Objectives Important Lesson Points Introduction to Social Security Benefits Important Social Security Definitions Currently Insured Social Security Survivor Benefits Fully Insured Social Security Survivor Benefits Mother’s or Father’s Benefit Summary Test Your Comprehension - Chapter 4 Chapter 5 - Identifying Income Needs At Death Chapter Learning Objectives Important Lesson Points Introduction The Dependency Period The Blackout Period The Survivor’s Retirement Period Summary Test Your Comprehension - Chapter 5 Chapter 6 Calculating Survivor Income Needs at Death Chapter Learning Objectives Introduction A Process of Estimation Determining the Capital Need When Income is Not Needed for Several Years The Client Wishes to Use Interest and Capital Using Interest and Capital—Income Not Needed for Several Years Projecting Future Income Needs Dependency Period Blackout Period Retirement Period Capital Retention Summary Test Your Comprehension - Chapter 6 Appendix A Present Value Factor for Annuity Table Appendix B Present Value Factor for Single Sum Table Appendix C Calculating Survivors’ Income Needs Glossary |
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