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Understanding The Basics of Life Insurance Today

  • Accountant
  • CFP (US)
  • CPA (US)
  • CVA
  • CFA
  • TEP
  • ChFC
  • CSA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CWS

Published: May, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description


  • Matching policy with client objectives
    4 mins
  • Indexed universal life policy
    16 mins
  • Variable life insurance
    18 mins
  • Whose fault is it my coverage ended?
    30 mins
  • Tax treatment of life insurance
    43 mins

Course Description

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, they’ll know the name of the company, but won’t know how long their coverage will last, nor the extent of the risk they share with their insurance company that 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 that 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!

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 that 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

Learning Objectives

  • To discuss the 5 major types of life Insurance policies available today.
  • To explain the process of underwriting to qualify for coverage.
  • To explore the significant tax and other benefits of life insurance.
  • To prevent an existing policy coverage from expiring prematurely.
  • To match a person’s objectives with the right type of policy.
  • To become more familiar with your personal Insurance portfolio.
  • To obtain the maximum coverage for the premium you’re now paying.

Recommended For

  • This Online CPE Webinar is recommended for CPA (US), CFA, CIPM, CVA, CBA/MCBA, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, PFS, TEP, CSA, and other finance professionals who want to learn about the basics of life insurance.
  • This CPE course is helpful to alert clients with life Insurance information they’re not familiar with and maximizes the coverage for their current premium.

Who Should Attend?

  • Certified Public Accountant (CPA)
  • Certified Senior Advisor
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Finance Pros
  • Personal Financial Specialist (PFS)
  • Wealth Management Advisor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Finance for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 PL Credit of Finance for Chartered Financial Analyst (CFA)
  • 1 CPD Credit of Risk management planning (incl. Life Insurance) for Personal Financial Specialist (PFS)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPE Credit of Life Insurance for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Finance for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Life Insurance for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Life Insurance for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Life Insurance for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Life Insurance for Wealth Management Certified Professional (WMCP)
  • 1 PL Credit of Finance for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CE Credit of Risk Management and Insurance Planning for Certified Financial Planner (US) (Approval No. 308975)

Additional details

  • Course Level :
  • Credits :
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
  • Advance Preparation :


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About Presenter

Henry Montag

Account Executive, The TOLI Center East

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 ✉ or ☎ 516-695-4662. Visit 🌎

Clients Say

  • “Mr. Montag gives new meaning to be a knowledgeable representative of what is best in insurance protection for you & your loved ones. A man of his word, his character is stellar & his breadth of understanding of an individual’s needs is enormous.”Mrs. Barbara G. NYC    

  • “Henry evaluated my insurance needs (financial wealth & personal objectives) & he changed 1 policy significantly by almost doubling the policy for the same premium. He truly cares about protecting you & is always easily accessible.” Dr. Barry B. Roslyn LI

About Company

The TOLI Center East

The TOLI Center East is a life insurance consulting and policy administration firm specializing in Trust-Owned Life Insurance (TOLI) policies.  Our clients are legal and tax advisors to policy owners, Irrevocable Life Insurance Trust (ILIT) trustees, grantors and beneficiaries, and Family Offices who lack life insurance product and policy evaluation expertise.  

Life insurance is a ‘buy-and-manage’ financial asset typically purchased for a 10 to 50-year duration period.  Life insurance carriers and their contracted sales agents provide the ‘buy’ function but the ‘manage’ function is missing unless the policy owner or trustee delegates this function to a qualified third-party provider.  The TOLI Center East platform provides the missing annual policy administration, performance monitoring and risk management services necessary to safeguard the interests of the policy owner.

There is a lapsing life insurance policy crisis due to inattention.  Life insurance, no different from fixed income and equity investments, requires attentive performance monitoring.  While policy management should be considered at the time of policy purchase, credible evaluation can be implemented at any time to avoid lapse and protect the policy’s death benefit liquidity purpose.     

The TOLI Center East specializes with TOLI.  Most unskilled amateur ILIT trustees serve as an accommodation to the grantor.  They are unaware of their fiduciary duties and lack both life insurance product expertise and credible policy evaluation capabilities.  Hence, The TOLI Center East is engaged by the trustee and can communicate with the grantor’s legal and tax advisors to assure the TOLI policy (ies) are managed to maximize the probability of a favorable outcome to the trust estate. 


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Ratings and Review


78 Ratings



Very Good









Ramanik P. Shah, Cpa, CPA (US)

Mar 30th, 2022



Swaranjeet Kaur, CPA (CA)

Mar 31st, 2022

Learned the basics of life insurance and a lot more