Management Adv Services
There are no prerequisites.

Course Description

Personal Life Insurance Planning examines the type of client data needed to determine minimum life insurance coverage requirements. It identifies the various lump-sum cash needs at the death of a breadwinner and provides guidelines to enable advisers to recommend life insurance in amounts that fully protect clients. Also covered are typical surviving family income needs; how to calculate adequate survivor income and appropriate life insurance needs; Social Security survivor benefits; and benefits for children, parents, and widows and widowers.


Paul Winn

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Course Specifics

Management Adv Services
Jan 20, 2020
There are no prerequisites.

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Describe how the human life value method approximates individual and family life insurance requirements.

Chapter 2

  • Identify the types of customer information needed to determine appropriate life insurance needs; and
  • Explain why information concerning a customer's financial situation, objectives, and risk tolerance is necessary to the personal life insurance planning process.

Chapter 3

  • Identify the principal lump-sum family financial needs following a breadwinner's death;
  • List the immediate cash needs generally experienced by surviving members of a deceased breadwinner's family;
  • Describe the principal estate administration costs; and
  • List the primary uses of an emergency fund for surviving family members.

Chapter 4

  • Determine the difference between 'currently insured' and 'fully insured' and the consequences for surviving family members of the worker's Social Security insured status;
  • Calculate the Social Security survivor benefits lost by a beneficiary's receipt of excess earned income; and
  • List the criteria applicable to eligibility for each Social Security survivor benefit.

Chapter 5

  • Describe when a surviving family's dependency period, blackout period, and retirement period begin and end;
  • Explain when the Social Security Mother's or Father's benefit ends; and
  • Identify when the Social Security Child's benefit ends.

Chapter 6

  • Calculate the amount of life insurance needed to provide survivor income liquidating capital and income; and
  • Calculate the amount of life insurance needed to provide survivor income using income only and retaining capital.

Choose Your Preferred Format

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy

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