Essentials of Life Insurance ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Life insurance is a key financial product, with real benefits when you know how to use it properly. In this course, we describe the various types of life insurance, how to determine the correct amount of it, the relevant advantages and disadvantages, and how to understand the intricacies of permanent life insurance.
Highlights
Types of expenditures requiring life insurance coverage. How much life insurance is enough? Expectations for life duration. The life insurance underwriting process. Types of life insurance. Term life vs. permanent life insurance. Useful policy riders. Tax implications of life insurance. Transferring policy ownership. The selection of a life insurance company. Determining the amount of an insurance payout. Obtaining a claim payout. Accounting for business-owned life insurance.
Prerequisites
None.
Designed For
CPAs, financial professionals, enrolled agents, and attorneys.
Objectives
Identify the various uses for life insurance. Specify the concepts underlying how life insurance operates. Identify the information sources to verify the medical information of life insurance applicants. Specify how the incontestability clause works. Identify the elements of a permanent life insurance policy. Recall the advantages and disadvantages of both types of life insurance. Specify the advantages and disadvantages of policy loans. Specify how premium financing operates. Recall the circumstances under which you can transfer ownership of a life insurance policy.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00