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Life of an Insurance Policy

Course Type: Short Online Course
Topics: Onboarding
Language: English


Ever wonder who plays a role in the “life” of an insurance policy? In this short course, learners will see how each major operational area helps shape the insurance product and customers’ perception of its value. They will also discover the key stages in the life cycle of an insurance policy—from initial planning and product development, through policy application and underwriting, and finally through policyowner service and claim administration.

Time to complete: 30–45 minutes


  • The importance of market segmentation
  • Key product development activities that occur when a new product is developed
  • The three primary distribution systems insurers use
  • How life insurance underwriters classify the risk presented by a proposed insured
  • Key customer service activities used to help conserve in-force life insurance policies
  • How claims on life insurance policies are processed and paid

Course Format

The “Life of an Insurance Policy”is one of many LOMA short online courses that can be completed in an hour or less. This course is included in two of LOMA’s short online course collections: The Sales Support Collection: For Home Office Employees and The Sales Support Collection: For Field Office Employees. Other course collections address life insurance, annuities, and customer service.

Each collection contains four to six short online courses on related topics. They provide an excellent way to get new employees up to speed quickly, educate employees new to an area, and refresh the knowledge of seasoned employees.

Study Materials

Discussion Guide

Discussion Guide to accompany the Life of an Insurance Policy Online Course: A Collection of Learning Activities

Summary: This discussion guide contains a collection of activities to help company trainers/managers conduct in-class sessions for employees who have taken Life of an Insurance Policy. The activities in the discussion guide focus on reinforcing concepts learned in the online course and applying those concepts to the employees' company. The discussion guide includes instructions for facilitators and PowerPoint slides which can be used to lead activities. It is an optional supplement to the online course.

Provider: LOMA

LOMA Member Price: $251.00
Non-Member Price: $502.00