Inforce Certification - Module 5: Inforce Ledgers and Illustrations

The Inforce Certification provides a comprehensive understanding of the key aspects of life insurance policies once they are in force. This certification covers a range of topics related to policy services, technology, billing, changes, loans, and more. Participants will gain knowledge of how to manage policies post-issue, including understanding policy updates, billing processes, and critical policy changes. The course also includes guidance on the use of technology, such as online portals and software products, and addresses specific policy-related actions like reinstatements, conversions, and surrenders. It will also explore the financial implications of policy loans, collateral assignments, and premium financing. This certification is essential for those involved in life insurance policy administration and advisory services.

Module Overview:

Module 5 – Inforce Ledgers and Illustrations

This module details the purpose and use of Inforce illustrations, which show policy performance for permanent life insurance policies and hybrid contracts. It explains how these illustrations can be requested after a policy has been in force for at least one year and helps clients make changes to their contracts. It also highlights the need to provide specific information when requesting illustrations to avoid delays..

Learning Objectives

• Understand the purpose of Inforce illustrations and their value.

• Recognize when Inforce illustrations are used.

• Explain how Inforce illustrations can aid in making policy changes.

• Understand the importance of being specific when requesting Inforce illustrations.

• Recognize the need to review Inforce illustrations for accuracy before giving it to an agent.

• Identify who is able to request an Inforce illustration.

COURSE CONTRIBUTORS