What the Advisor Should Know about the Living Benefits of a Life Insurance Policy 1 Credit
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While everyone is aware of and can provide several examples of the many uses of the ‘Death Benefits’ of a Life Insurance policy, the same cannot be said of the various ‘Living Benefits’ of a Life Insurance policy. The major reason people buy life insurance is so that when they die, their family, business partners, or other beneficiaries will receive a check from the insurer. Most are also aware that the proceeds from a life policy can be received as income & estate tax-free if set up properly.
Unfortunately, however, most people view life insurance as a stodgy document that you buy and put in a file drawer, only to be looked at when the insured passes away. That thinking worked up to the early 1980s when there were only two types of life insurance, Term & Whole Life. Then in 2010 with the passage of the Pension Protection Act, the concept of combining life Ins and long-term care coverage came into being and this further developed the need for professionals to become familiar with the new ‘Living Benefits’ of a typical life Insurance policy.
This CPE course will focus on the fact that life insurance is also an ‘Asset Class’ that can in addition to providing a death benefit for its beneficiaries, can also provide significant living benefits to an insured/owner while they are alive.
Four specific types of living benefits can be enjoyed by those aware of and able to take advantage of them. Unfortunately, only a small number of policy owners and their advisors are aware of the current living benefits available in a life insurance policy today. These benefits that we’ll discuss are capable of providing so much more than just a death benefit.
Key Topics Covered:
This CPE Finance Webinar on insurance will help you to understand the basics of life insurance!
| 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 |
| Investment Planning for Certified Divorce Financial Analyst (CDFA) (Valid upto : Aug 30, 2025) | 1 CE | Approved |
| Gift And Estate Planning for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Life Insurance for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| Gift And Estate Planning for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 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 |
| Investment Planning for Certified Divorce Financial Analyst (CDFA) (Valid upto : Aug 30, 2025) | 1 CE | Approved |
| Gift And Estate Planning for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Life Insurance for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| Gift And Estate Planning for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 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 |
| Investment Planning for Certified Divorce Financial Analyst (CDFA) (Valid upto : Aug 30, 2025) | 1 CE | Approved |
| Gift And Estate Planning for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Life Insurance for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| Gift And Estate Planning for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Finance for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Personal Financial Planning 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. 314432) | 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 |
| Finance for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Insurance Needs & Planning for Certified Senior Advisor (CSA) | 1 CE | Eligible |
| Life Insurance for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Certified Treasury Professional (CTP) | 1 CE | Eligible |
| Life Insurance for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Life Insurance for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Finance for CIPM | 1 PL | Eligible |
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Pre-requisites
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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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