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.