Term & Universal Life




(253) 846-1155



Course Overview

  We often hear people say that only term life insurance should be purchased for life insurance needs. Like so many broad statements, this is only correct in specific situations. Term insurance certainly makes sense for many people. Cash value products are not the same as investing in an annuity or mutual fund, but they do have their correct place in financial planning. This course looks at the roles each plays in an individual’s financial life.

No course can look at life insurance products without first defining what life insurance is and how consumers use them. The agent and consumer must determine how much life insurance is needed to protect the intended beneficiaries. Once the quantity of life insurance is determined, cost must be considered. Term insurance is an especially good choice for those who do not have much money to allocate for insurance.

Universal life insurance is not the first cash value or “permanent” life insurance policy sold so the course looks at the origins of this product and why it gained prominence over other cash value products.

Course Schedule




Chapter 1

Defining Life Insurance

The course looks at life insurance contracts, defining what a contract is and how it should be applied. Cash value life insurance products, including annuities, now have a new use, one that was not intended by the insurers: money laundering.

Chapter 2

The Life Insurance Contract

The federal government is concerned enough about this problem that agents must now complete education on anti-money laundering procedures.

Chapter 3

Policy Features and Provisions

Policy features of term and universal life products are discussed including nonforfeiture options, dividend options, and settlement options. State required provisions, general provisions, and allowable provisions are also considered. Beneficiary designations are looked at as well as special clauses.

Chapter 4

Contract Use

Finally group contracts are discussed, including eligible groups, creditor-debtor groups, and underwriting advantages for group products. The course looks at the contract participants, key person insurance and buy-sell agreements.

Additional Information