Life Insurance Products Course

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

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