Life Insurance in Action
Course Overview
Life Insurance in Action discusses the various ways in which life insurance benefits policyowners, particularly by providing financial stability and protection for their families and dependents. The course lists the many applications of life insurance products and explains how flexible options help to meet a wide range of the policyowners’ changing needs. It also describes the tax treatment of policy proceeds.
In this course, the following concepts are key:
- People buy life insurance fo financial stability and to protect their families and dependants.
- How a policyowner accesses the death benefit or disposes of the proceeds determines whether the amounts are taxed.
- Life insurance provides benefits during life and after death.
- Policyowners can use various options to control the distribution of policy proceeds long after their death.
Learning Objectives
At the end of this course, you should be able to:
- Describe the death benefit of a life insurance policy and explain the various ways in which policy proceeds may be distributed,
- Describe the living benefits that life insurance provides to the policyowner, explain how different policies generate cash values, and enumerate the various ways of accessing cash values,
- Explain policy dividents and describe their uses and other characteristics,
- Describe the categories of beneficiaries for the distribution of proceeds from a life insurance policy and explain the restrictions on designations,
- Explain other rights and options available to policyowners to ensure that their insurance policy meets their changing needs.
