Life, Viatical & Health Insurance

Instructor UIE Phone (253) 846-1155 Email mail@uiece.com

Course Overview Life and viatical settlements have existed for some time, much longer than most people realize in fact.

Course Schedule

Chapter	Subject	Description
Chapter 1	Understanding Viaticals	The first chapter looks at the basic concepts of the viatical process, giving the reader a basic knowledge of the life and viatical industry.
Chapter 2	Life & Viatical Settlements Turns Life Insurance into an Asset	The second chapter looks at life insurance as an asset in addition to death protection. While the issuing insurers intend life insurance to be death protection, life insurance has always been an asset, although mostly unrecognized as such. Many financial planners knew they were assets, but even they dealt with life insurance as though the policies were merely death protection. Now that consumers are realizing their life insurance policies, while certainly representing death protection, are also assets, insurers are being forced to recognize that as well. This chapter covers what that means to both insurers and consumers.
Chapter 3	Viatical Benefits in Canada & US	Chapter three looks at viatical benefits in Canada and the United States. Life and viatical settlements have many benefits, especially for those facing severe illness or frailty due to age and health conditions.
Chapter 4	Health Insurance in Canada & US	Chapter 4 looks at health insurance in the United States and Canada. It considers elements often overlooked, such as the opioid crisis and how that affects health insurance. It also points out that nothing is “free” and that includes health insurance even when it is sponsored by the country’s governments. This chapter looks at funding health insurance and the options available in both the U.S. and Canada.
Chapter 5	Stranger-Oriented Life Insurance & Insurable Interests	Chapter 5 looks at STOLIs, stranger-oriented life insurance, which is primarily illegal in both countries. The reason it is mostly illegal has to do with insurable interest requirements in life insurance policies. While beneficiaries can be changed after the life insurance policy is issued, insurers clearly require there be an insurable interest. This was not highly regulated in past years because insurers did not face the issues that STOLIs bring about. That has changed as life insurance benefits became big business; now insurers must be concerned with how issued policies are used.
Chapter 6	Life & Viatical Ethics in Canada & US	The final chapter, chapter six, looks at life and viatical ethics in Canada and the U.S. While ethical conduct is generally mandated and everyone accepts that ethics are needed and required in the insurance industry, when it comes to life and viatical settlements, and certainly STOLIs, ethics needs to be emphasized so that those within these industries have no excuse to offer when laws (or the intent of laws) is violated. The chapter looks at moral responsibilities to clients and others within the industry, including issuing insurers who expect life insurance policies to be used as death protection. It looks at the ethical intent of policies and the insurance producers who sell them.

Additional Information

Where applicable, this course may apply towards a Viatical requirement.