Michigan Course Approval Number: 93226
Universal Life Insurance Overview examines the key features of the universal life insurance product, including its flexible premiums, adjustable coverage, expense and mortality charges, and death benefit options.
Upon completion of the course, the student should be able to:
- Understand the flexibility of universal life insurance premiums and the adjustability of its death benefit;
- Compare and contrast universal life death benefits Option A and Option B;
- Explain universal life expense and mortality charges;
- Recognize the role of universal life guaranteed, current, and assumed interest rates;
- Calculate universal life coverage, net amount at risk, cash value, and mortality charges;
- Understand universal life transactions, premiums, surrenders, loans, and withdrawals;
- Explain how VUL cash values are determined; and
- Explain universal life taxation.
