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Life Insurance Products Course

Life Insurance Products Course

Course Type: Classroom, Instructor-Led
Topics: Canada, Life Insurance
Language: English



Overview

This comprehensive course is designed for business professionals seeking to gain a deeper understanding of life insurance products in Canada.

  • Gain the latest facts and figures on the Canadian life insurance industry
  • Enhance your knowledge about the various types of life insurance products, their features and benefits
  • Increase your understanding of how the products are constructed, how they work and when they should be used
  • Examine consumer and business needs for life insurance
  • Get up to speed on taxation, distribution, regulation and consumer protection issues
  • Add practical ideas and sales concepts to your toolkit

Learn More

Contact us for more information about LOMA Canada courses.

Topics

  • Why life insurance?
  • Actuarial principles
  • Product pricing
  • Participating whole life: features and benefits, dividend options, interest rate sensitivity, demutualization
  • Universal life: plan designs, interest rate options
  • Tax on surrender: adjusted cost basis, tax deferral, tax on policy loans
  • Optional benefits
  • Mortgage insurance
  • Needs analysis
  • Sales concepts
  • Parties to a life insurance contract
  • Policy provisions
  • Product illustrations
  • Industry players: manufacturers, distributors, regulators
  • Regulation and consumer protection

Sample Agenda

Day One: 8:30 a.m. – 5:00 p.m.

Opening Remarks: Welcome and Introductions

Insurance Market Overview

  • Sales Statistics

Insurance Products Overview

  • Principles of Insurance
  • The Policy Contract

Product Pricing and Design

  • Cost of Insurance — Pricing Factors
  • Building a Term Insurance Product
  • Whole Life Insurance
  • Universal Life

Product Illustrations

  • Term, Whole Life, Universal Life

Using Products to Meet Needs

  • Case Studies
Day Two: 8:30 a.m. – 12:00 p.m.

Taxation

  • Income Tax Principles
  • Investment Income
  • Insurance Policies

Insurance Sales Concepts

  • Comparing Financial Strategies/Outcomes
  • Buy Term and Invest the Difference
  • Estate Bond
  • Asset Protection Plan
  • Insured Retirement Program

Final Group Exercise and Closing Remarks