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Ethicaledgelogo

Middle exchangeright
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Lifeinsuranceillustrations ethicaledge

WHAT EVERY ACCOUNTANT NEEDS TO KNOW ABOUT LIFE INSURANCE ILLUSTRATIONS

Cost Free   CPE Credits 1.0 hour   Subject Area Specialized Knowledge  Course Level Basic  Instructional Method Group Internet Based  Prerequisites None  Advanced Preparation None  Who should attend? CPA - small firm
CPA - medium firm
CPA - large firm
Other 
Course Description

Since the introduction of paradigm-shifting universal life policies in the late 1970s, advisors and clients have had to reconcile optimistic sales illustrations with the in-force reality of values that are often less than expected. Forty years later, we still struggle with illustration disclaimers and failed policies. This presentation demonstrates new ways to advise clients about making current assumption life insurance policies meet their expectations and be in their best interest. This process diagnoses new and in-force IUL and VUL policies and explains how to discuss best (not lowest) premiums and outcomes. You will learn how to achieve consistency with the client's expectations and conduct a conversation with a client who already owns a universal life policy.

Learning Objectives

  • Non-insurance advisors will have a better idea of how to guide a client to an appropriate type of life insurance policy based on their risk tolerance.

  • Policy illustrations will be appreciated for their ability to describe how a policy might work - but NOT what it might be “worth” in the future.

  • Appreciate how “probability of success” can transform the conversation about the real cost of buying and managing lifetime-use insurance policies.

  • Learn how constant rate, “best price” IUL and VUL policy illustrations disguise the often disastrously negative effect of volatility.

  • Be comfortable discussing “best premium” (note - not “lowest premium”) consistent with the client’s expectations and resources for new life insurance.

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Ethicaledgelogo

Richard M. Weber, MBA, CLU, AEP is a fee-only insurance expert, working as an Insurance Fiduciary for over 20 years. A 50-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now a consultant to insurers and their agents on the topic of productively serving a client’s interests.

He is the author of more than 350 articles encompassing products, sales practices, and the due diligence necessary to buy and sell life insurance and annuities. His research paper, Life Insurance as an Asset Class - co-authored with Christopher Hause - received the 2008 Academy of Financial Services "Best Paper” award.
 
Dick was the Society of Financial Service Professional’s 2012-2013 national President and was their Kenneth Black, Jr. Leadership Award recipient in 2008 in recognition of his “... exemplary leadership qualities and significant contributions to the fulfillment of the Society’s core values of ethic, education, and relationships.”


In 2009, Dick was elected to the National Association of Estate Planning Council's Estate Planning Hall of Fame - and selected to receive the Distinguished Accredited Estate Planner award and designation for “... significant and outstanding lifetime achievements and contributions to the practice and profession of estate planning.” Richard M. Weber, MBA, CLU, AEP (Distinguished) is a fee-only insurance expert, working as an Insurance Fiduciary for over 20 years. A 50-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now a consultant to insurers and their agents on the topic of productively serving a client’s interests.

Handout Materials
Presentation Slides
Additional Materials
Best policy for me
Crediting rate
Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.

Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

Ethicaledgelogo
The Ethical Edge provides fee-for-service consulting in a number of different arenas, from life insurance policy management to technical and due diligence perspective on legal cases involving life insurance. In all of our service areas, we seek to add value and provide a high level of expertise.