Life Insurance
Available Anytime
Location:
Online
4Credits
Technical Business
Registration is Open
FICPA Members
Nonmembers
$105.00 Regular Price
Product Code: AI23-PFP-INS3
Level: Intermediate
Vendor: AICPA CPE Division
Field of Study: Specialized Knowledge
Overview:
This CPE course can be purchased individually or as part of the Risk Management and Insurance Planning Certificate Program.
The construction of a proposed life insurance solution in a personal financial plan is complex on several levels. As a personal financial planner, you must possess a broad range of knowledge of the various insurance solutions available to have a reasoned dialogue with your clients.
In this audiovisual CPE course, Tom Tillery will describe three different types of life insurance contracts: term life insurance, permanent life insurance, and group life insurance (group life insurance is covered in greater depth in the Group Insurance and Employee Benefits course).
This course covers:
- Optimal design of a policy
- Funding and withdrawal features
- Dividend options
- Nonforfeiture options
- Settlement options
Finally, taxation and tax planning topics will be addressed, including:
- Tax planning with life insurance
- Income taxation of life insurance
- Taxation at surrender of a contract
- Taxation of proceeds from a life insurance contract
- Transfer of value rules
- Section 1035 exchanges
- Integrating life insurance with the overall financial plan.
Objectives:
Learning Outcomes
- Recognize the various types of term life insurance.
- Identify the types of permanent life insurance.
- Select a waiver of premium rider based on specific facts and circumstances.
- Distinguish among the various types of life insurance riders.
- Identify the features of a permanent life insurance contract.
- Determine the taxation of distributions from a modified endowment contract.
- Select the appropriate dividend option based on the client's facts and circumstances.
- Calculate the death benefit of a life insurance contract.
- Identify exchanges of insurance contracts that qualify for IRC Section 1035 tax treatment.
- Select an estate planning strategy based on a client's specific facts and circumstances.
Major Topics:
Key Topics
- Term, credit, permanent, universal
- Key features of life insurance
- Underwriting, design, funding, nonforfeiture, settlement, planning, practical aspects
- Taxation and tax planning with life insurance
- Integrating life insurance with the overall financial plan
Designed For:
Who Will Benefit
- CPAs and financial planners with basic knowledge of, and interest in, personal financial planning.