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Insurance Contracts and Needs Analysis Logo aicpa

  Susan M. Tillery, CPA/PFS, CFP® , Tom Tillery, ... |   Free |   AICPA |   Dec 2019 |   Specialized Knowledge and Applications |   AICPA Store
Who Will Benefit?
  • CPAs and financial planners with basic knowledge of, and interest in, personal financial planning.
Key Topics
  • Insurance needs analysis
  • Elements of insurance policies
  • Legal requirement of insurance contracts
Learning Objectives
  • Distinguish among the three types of life insurance needs analysis.
  • Determine the amount of emergency reserves required for a personal financial planning client.
  • Calculate an inflation-adjusted return.
  • Distinguish the roles of the insurance company and the potential insured.
  • Identify the principle that underlies most insurance contracts.
  • Determine the appropriate contractual remedy based on facts and circumstances.

This CPE course can be purchased individually or as part of the Risk Management and Insurance Planning Certificate Program.

There are several ways to calculate how risk should be addressed in a personal financial plan. Each of the various insurance products has its own unique set of calculations.

In this audiovisual CPE course updated for the Tax Cuts and Jobs Act, Tom Tillery shows you how to illustrate models to your clients, comparing the retention of risk to the transfer of risk using the time value of money. In this regard, the personal financial planner occupies a singular position in the risk management process.

The management of the economic risk of premature death and disability is critical to any personal financial planning engagement. For most clients, this is the greatest risk to their personal financial plan. As their personal financial planner, you are expected to be thoroughly knowledgeable in the life and disability areas.

In this course, you will learn the various legal elements of the insurance policy, as well as other agreements that personal financial planners should have familiarity with, to best educate and serve your clients.

Topics covered:
  • Tax: Technical: Individual income taxation , Intermediate
  • Personal financial planning: Technical: Risk management & insurance planning, Intermediate