COURSE OBJECTIVES

In this course, you will learn to:

• Describe the characteristics of insurable risks and identify common risk classes for proposed insureds.
• Explain the role of underwriters and how they assess specific risks.
• Discuss the roles of the U.S. state and federal governments with respect to insurance regulation.
• Explain how insurers use mortality tables for pricing products, and describe the effect that mortality rates have on the cost of benefits and the premium rate for a block of policies.
• Describe the benefits and features of term life insurance, whole life, joint whole life, universal life, variable life, and variable universal life insurance products.
• Identify different types of annuity products, describe the features of each type, and explain how each type works.
• Explain various features of a life insurance policy, including the free-look provision, the incontestability provision, and the grace period.
• Discuss the property rights, dividend options, and settlement options a policyowner has in an individual life insurance policy.
• Identify the parties to a group insurance contract, the typical eligibility requirements, and the factors used to underwrite a group insurance contract.
• Describe the basic elements of employer-sponsored retirement plans, who is involved, why these plans exist, and why insurers are ideally suited to meet this market need.

COURSE FORMAT

• LOMA's popular online interactive designation courses teach important industry concepts through an engaging, highly interactive, multi-media approach that often includes integrated video, audio, and scenario-based learning.

EXAM FORMAT

Integrated Exams:

• Online interactive designation courses include self-proctored exams — the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment required!

TOPICS:

• Introduction to Risk and Insurance
• The Life and Health Insurance Industry and Its Regulation
• Life Insurance Policies as Contracts
• Financial Design of Life Insurance Products
• Meeting Customer Needs
• Term Life Insurance
• Cash Value Life Insurance
• Supplemental Benefits
• Individual Life Insurance Policy Provisions
• Life Insurance Policy Ownership Rights
• Annuities
• Principles of Group Insurance
• Group Life Insurance
• Group Retirement Plans
• Health Insurance Overview