Course Description:

Students learn the type of client data needed and how to build client rapport and create trust. The various lump-sum cash needs at the death of a breadwinner are identified, and guidelines are provided that enables students to recommend life insurance in amounts that fully protect their clients. The surviving family’s income needs are examined, and the students learn how to calculate adequate survivor income and the life insurance needed to provide that income. Social Security survivor benefits are discussed, including the Child’s benefit, the Mother’s or Father’s benefit, and Widow’s and Widower’s benefit.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Describe the early attempt to calculate appropriate life insurance amounts known as the human life value method
• Understand the importance of basing client insurance requirements on a thoroughgoing analysis of needs
• Gather the appropriate client information required to perform an insurance needs analysis
• Identify and calculate a client’s family’s lump-sum needs at the death of a breadwinner
• Understand the Social Security survivor benefits that need to be considered in analyzing survivors’ needs for life insurance to replace income
• Identify and calculate survivors’ income needs during the dependency period, blackout period and retirement period