A life insurance policy is a contract where the insurer pays a death benefit to beneficiaries in exchange for premiums. This course covers key principles of life insurance, its uses in personal and business markets, and methods for determining insurance needs. It explores life insurance for income replacement, estate planning, charitable gifting, buy-sell agreements, executive benefits, and split-dollar plans.

• Describe how life insurance originated and the primary reasons why life insurance is an invaluable purchase for most people
• Explain the legal implications of life insurance as a contract and other special life insurance concepts
• Cite the factors in determining premiums and understand how the cash value of a life insurance policy can be put to a variety of uses
• Identify specific methods and factors involved in calculating not only individual and family life insurance but also business and key person life insurance
• Understand the concepts that affect the income tax treatment of life insurance policies