Variable Universal Life - OH

Insurance Continuing Education in Ohio

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Your Price: $16.95

4 credit hours

Price includes
CE Course :
$12.95
Roster Fee :
$4.00

* A roster fee of $1.00 per credit is required to file Insurance Continuing Education credit in Ohio. That fee is collected as part of your purchase and is then used to pay for the filling of your credits.

If purchased today, this course must be completed by:
December 31, 2024 (277 Days)

An affidavit of personal responsibility must be completed prior to the processing of credits for continuing education.
Description

Variable Universal Life Insurance begins with an examination of the financial and political environment in the decade of the 1970s that gave rise to the conditions resulting in the development of the universal life insurance product. The student will understand the roles played by extraordinarily high interest rates that gave rise to disintermediation and a Federal Trade Commission report that was critical of whole life insurance in the decline of whole life insurance sales. Fixed premium variable life insurance is considered, principally in its role as a precursor and foundation for the VUL product.

The key features of all universal life insurance products, including VUL, are examined, including their:

  • Flexible premiums
  • Adjustable coverage
  • Expense and mortality charges
  • Death benefit options and their relationship to the policy’s amount at risk

Cash value access and taxation are considered, and the appropriateness of withdrawals and policy loans are discussed in reference to the policyowner’s intent to repay. Variable universal life suitability is examined, and students are provided with decisional factors to consider in making any suitability analysis.

Upon completion of the course, the student should be able to:

  • Understand the flexibility of variable universal life insurance premiums and the adjustability of its death benefit;
  • Compare and contrast variable universal life death benefit Option A, B and C;
  • Explain the applicable variable universal life expense and mortality charges;
  • Calculate variable universal life coverage, net amount at risk, cash value and mortality charges;
  • Understand variable universal life transactions, premiums, surrenders, loans and withdrawals;
  • Discuss the special VUL policyowner rights;
  • Explain the tools available to a VUL policyowner to manage cash value volatility;
  • Identify the basic VUL variable subaccounts and the risks normally found in various classes of investments;
  • Apply the NASD guidelines with respect to VUL suitability; and
  • Identify variable universal life suitability factors.

Exam Details

Need Proctor?No
Question Count:40
Passing Grade:70%
Attempts to Pass:Unlimited
Note: If you choose to request additional credit types while taking this course, the number of exam questions and proctor rules may change to meet those credits' requirements.

Course Details

Course Number:71721
Approved Title:Variable Universal Life
Approved Credits
4 credits in General
Provider:InsuranceStudy.com
Provider Number:982
Topics Covered:Life and Health Insurance, Life Insurance
Program Level:Advanced

Rules for Ohio Insurance Continuing Education

  • Course material may not be downloaded.
  • Exam is closed book.
  • For all online and self-study courses there must be an exam which consists of a minimum of 10 exam questions per each hour of approved continuing education credit.
  • All exam questions must be constructed in a four-alternative multiple choice format.
  • Payment is required prior to accessing course materials.
  • A provider shall prevent access to the course unit/chapter questions and final exam before the agent reviews the course materials in their entirety.
  • An affidavit of personal responsibility must be completed prior to the processing of credits for continuing education. The affidavit is to be made available only after the course examination is successfully completed.
  • Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
  • The state of Ohio charges an additional fee of $1.00 per credit hour.

Provider Rules for Ohio Insurance Continuing Education

  • A course will not be considered complete until all requirements of that course are fulfilled including the review of course material, completion of exam with a passing grade, and the receipt of any additional paperwork that may be required by your state Department of Insurance including but not limited to an Affidavit of Personal Responsibility.
  • State and certification rules and regulations must be adhered to at all times. In the event of a conflict, the state or certification rules and regulations will always take precedent over any provider policies. Applicable rules of your state and/or certification are listed above.
  • A final exam is required at the end of each course. All exams are multiple choice with the quantity of questions increasing exponentially depending on the number of hours available for credit. Each exam attempt will consist of a new set of randomly selected questions and answers.
  • Courses are available for one year from the date of purchase unless otherwise indicated. This time frame may be impacted by course expiration dates, course content updates, or author/company restrictions on availability.
  • In order to be eligible for a course refund, the student must request a refund in writing within one year of the purchase date. To be eligible for a refund, the course must be intact, meaning the student has not yet begun the course material. If the student is entitled to a refund, InsuranceStudy will refund the purchase price using the original method of payment. If the student has already started the course material, the student is eligible for an exchange to a different course of the same or greater value with any difference in price due at the time of the exchange. In the event the exam has been accessed, no refund shall be granted.
  • Students cannot be guaranteed that they will receive a passing grade.
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  • Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
  • Each exam must be answered with a minimum of 70% correct to achieve a passing grade. Some specialty certification or designation courses may have a higher passing standard and those exams will be subject to the higher requirement.

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