Personal Life Insurance Planning
In this course you will be introduced to terms and concepts used in connection with personal life insurance planning. Each new term is defined in the text and included in the Glossary. The concepts are explained and, where appropriate, are demonstrated through the use of examples.

This information is important for agents selling insurance products to customers and for advisers assessing the appropriateness of a life insurance recommendation for a client. An understanding of the methods used to determine suitable life insurance amounts to meet survivors’ lump-sum cash needs and income needs will assist the agent and adviser to better serve consumers and help ensure that appropriate life insurance amounts are recommended and purchased when they are suitable to meet client needs.

Course Publication Date: May 25, 2023

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $40.00!

Author:Paul Winn
Recommended CPE:4.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Advanced Preparation:None
Recommended Field of Study:Specialized Knowledge
Learning Objectives
  • Describe how the human life value method approximates individual and family life insurance requirements.
  • Identify the types of customer information needed to determine appropriate life insurance needs.
  • Explain why information concerning a customer’s financial situation, objectives and risk tolerance is necessary to the personal life insurance planning process.
  • 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.
  • List the primary uses of an emergency fund for surviving family members.
  • 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.
  • List the criteria applicable to eligibility for each Social Security survivor benefit.
  • 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.
  • Identify when the Social Security child’s benefit ends.
  • Calculate the amount of life insurance needed to provide survivor income liquidating capital and income.
  • Calculate the amount of life insurance needed to provide survivor income using income only and retaining capital.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Sponsor Number: 109423


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