Introduction to Life Insurance (Parts 1 and 2)

Submitted by Administrator on Thu, 11/03/2011 - 8:40am

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Course Title: Introduction to Life Insurance (Parts 1 & 2)

Description: This course introduces the learner to the business of life insurance. It has been divided into two parts in order to accommodate the learner’s busy schedule. Part 1 covers the fundamental concepts of life insurance and the products life insurance companies have developed in response to these fundamental concepts. In Part 2, the course covers the risks inherent in life insurance products, the methods life insurance companies utilize to mitigate these risks and the investments life insurance companies purchase to fund their obligations.

Topic: General Life Insurance

Level: Basic

CPE Credits: 4.0 hours (2.0 hours per session with a 1 hour break)

Prerequisites: None

NASBA publication/revision date: November 2011

Learning Objectives:

  • Upon successful completion of Introduction to Life Insurance (Part 1), the learner should be able to:
    • Describe how risk pooling and the law of large numbers enable a life insurance company to provide products attractive to consumers
    • Identify economic risks individuals face that make life insurance products attractive
    • Describe the products life insurance companies offer that are responsive to these risks
  • Upon successful completion of Introduction to Life Insurance (Part 2), the learner should be able to:
    • Identify the risks assumed by life insurance companies and describe how companies mitigate these risks
    • Identify the investments typically held by life insurance companies that enable them to fund the promises made to policyholders

Part 1 Outline:

  • Getting Started
  • Learning Objectives
  • Life Insurance Concepts
    • Early Forerunners of Insurance
    • The Law of Large Numbers/Risk Pooling
    • Coverage Renewable at Insured’s Option
    • Life Insurance Company Expense Structure
    • Pricing Contracts Renewable at Insured’s Option
    • Why is There a Market for Life Insurance
  • Life Insurance Products
    • Products That Compensate for the Premature Death of the Insured
    • Products That Compensate for the Retirement of the Insured
    • Products That Compensate for the Disability/Incapacity of the Insured

Part 2 Outline:

  • Risks Inherent in Life Insurance Products
    • Mortality Risk
    • Morbidity Risk
    • Lapse Risk
    • Credit Quality Risk
    • Reinvestment Risk
    • Disintermediation Risk
  • Risk Mitigation
    • Reinsurance
    • Sharing Risk with the Policyholder
      • Premium/participation
      • Interest
      • Variable Products
  • Life Company Investments
    • General
    • Debt Securities
    • Equity Securities
    • Policy Loans
    • Real Estate
    • Cash Equivalents/Short-Term
    • Other
  • Summary
DateTimeCost
$360 (first attendee)
$340 (each additional attendee)		Registration is closed.
(Registration closes 2 hours prior to the starting time.)

Note: All times are US Eastern. What time is it now?.


System Requirements:
  • Windows 95 or Higher
  • Internet Explorer 5.0 or Higher
  • 800 x 600 or higher screen resolution
  • Macromedia Flash Player 5 or Higher
  • Acrobat Reader