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Universal Life Insurance

  • Credits: 8
  • Format: Self-Study eBook
  • Field of Study: Specialized Knowledge
  • Author/Speaker: Paul J. Winn
Course ID: Advanced Preparation: Experience Level:
PW-814.21 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© July 2020 General Understanding of Life Insurance N/A

*** This course does not qualify for Insurance CE***


As life insurance goes, universal life insurance is a relatively new product. Developed and introduced in 1979, universal life insurance was the industry’s response to several factors that threatened the industry itself. To fully appreciate universal life insurance and its place among life insurance products, you must have an understanding of the market and other conditions that prevailed at the time of its introduction.

Topics include:

The factors that played a part in the development of universal life insurance were:

  1. Extraordinarily high-interest rates in the economy.
  2. The phenomenon is known as disintermediation.
  3. A Federal Trade Commission report that was critical of whole life insurance.
  4. Precipitously declining whole life insurance sales trends.

Learning Objectives:

After reading the course material, you will 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 expenses 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.
  • Explain universal life taxation.

Who Should Attend:
  • All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: