Universal Life Insurance Overview – Michigan Course Approval Number: 88151
This course represents 6 Credit Hours of State Certified Continuing Education.
Universal Life Insurance Overview
Universal Life Insurance 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 benefit 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.