Understanding The Basics of Life Insurance Today 1 Credit
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This course is valid up to December 31st, 2023 for CFP Professionals. It is advisable to complete this course before that to process the credit on time.
As an Independent Certified Financial Planner (CFP) for the last 35 years, it’s been a personal experience for the speaker, Henry Montag, that the great majority of people aren’t familiar with their life insurance portfolio.
They’ll know how much coverage they have, and they’ll know the name of the company, but neither we know how long their coverage will last, nor the extent of the risk they share with their insurance company, which determines whether that time is guaranteed.
In the early 1980s, life insurance was like a Carvel Ice cream store where the choices were Chocolate, Vanilla, or Strawberry, (Term or Whole Life Insurance).
Today that Ice cream store is more like a Baskin Robbins with 18 different flavors. (Guaranteed and Non-Guaranteed Universal Life Ins, Indexed Universal Life Ins, Variable Universal Life Ins, Private Placement Life Ins, in addition to the Term and Whole Life Ins.)
Each type of policy shares a varying percentage of the risk with the insured, which determines whether the coverage will or won’t last for the rest of the person’s life, based on their continuing to pay the current premium. Most individuals, however, are not aware of that fact.
This CPE webinar on Insurance will help you to understand the basics of life insurance!
Major topics covered in this Online Course:
You need to know whether that premium will be sufficient to maintain your existing coverage for the rest of your life. The reason is that an increasing percentage of existing coverage is expiring years earlier than anticipated due to reduced sustained interest rates and years of neglect on the part of the owner of the policy, who wasn’t aware that they should have increased their annual premium over the years to make up for the reduced interest rates their policy was earning. According to The Wall Street Journal, the problem is now growing significantly worse.
If you are interested in retirement planning, you can explore your choice of course on retirement planning HERE.
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Risk management planning (incl. Life Insurance) for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Finance for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Life Insurance for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Life Insurance for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Finance for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Certified Treasury Professional (CTP) | 1 CE | Eligible |
| Insurance Planning for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Risk management planning (incl. Life Insurance) for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Finance for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Life Insurance for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Life Insurance for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Finance for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Certified Treasury Professional (CTP) | 1 CE | Eligible |
| Insurance Planning for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Risk management planning (incl. Life Insurance) for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Finance for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Life Insurance for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Life Insurance for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Finance for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Certified Treasury Professional (CTP) | 1 CE | Eligible |
| Insurance Planning for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Risk management planning (incl. Life Insurance) for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Finance for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Finance for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Life Insurance for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Risk Management and Insurance Planning for Certified Financial Planner (CFP-US) (Approval No. 314434) | 1 CE | Approved |
| Life Insurance for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Life Insurance for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Finance for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Finance for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Certified Treasury Professional (CTP) | 1 CE | Eligible |
| Insurance Planning for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
I as the managing partner of The TOLI Center East help people better understand their life Insurance portfolio regardless of whether a person owns their life Insurance policy individually or through a trust. Whether the person is a CPA, an Attorney, or another type of an advisor, one thing remains the same. Most people are not familiar with their life Ins and incorrectly assume that their coverage will be there for the rest of their lives.
But because the majority of life insurance purchased over the last 25 years is Not Guaranteed and has significantly been affected by years of decreased interest rates and neglect on the part of the amateur trustee that wasn’t aware that they should have been increasing the annual premium, an increasing percentage of those policies are now expiring years earlier than anticipated.
Lastly, Life Insurance today is an 'Asset Class' and as such
can significantly benefit the Insured with its 'Living Benefits' as well as the
beneficiary with its traditional death benefit.
The more you and your clients know about your & their life insurance portfolio, the better off everyone’s family will be.
Co-authored American Bar Association Flagship book ‘The Advisors’ & Trustees’ Guide to Managing Risk. Featured in Bloomberg, Trust & Estates, NYS Bar Association, Accounting Today, Tax Stringer, Wall Street Week TV, Fox News, Wall Street Journal, Investor’s Business Daily & More ★
Contact me at ✉ henry@thetolicentereast.com or ☎ 516-695-4662. Visit ? www.thetolicentereast.com
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
CM
I truly did not understand the ins and outs of life insurance and its role in financial planning. I will take more classes offered by Mr. Henry Montag, CFP, to better equip myself with assisting my clients in understanding the impact life insurance has on their estate.
EB
Some of my clients have requested recommendations for type of insurance. This was the best seminar I have had that explained reasons for different types of life insurance.
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