7563. Life Insurance, Annuities, Disability and Long Term Care Insurance

This course will focus on three important forms of insurance. Life insurance and annuities are contracts that provide protection from the financial risks associated with mortality - life insurance protecting against the financial risks associated with early death and annuities providing for income throughout life. Disability income insurance covers risks associated with morbidity by providing income for those who are disabled. These three forms of insurance provide significant supplements to the guarantees in the Social Security system for retirement income, some level of disability income and death benefits. The course will cover a variety of forms of insurance including whole life insurance, term insurance universal life insurance, immediate annuities, deferred annuities and longevity annuities. These contracts can be offered in group form through employers and others or on an individual basis. Significant issues such as insurable interest, medical underwriting, privacy and insurance company utilization of government data such as the death master file will be included. These forms of insurance are subject to special provisions under the Internal Revenue Code that encourage the use of such insurance. Many of these types of insurance are governed by ERISA and securities laws and regulations. The course will cover on a high level the tax, ERISA and securities law applicable to these contracts.