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 19: Annuity Withdrawals  This module outlines the complexities of annuity withdrawals, including fees, tax implications, and contract rules. It’ll discuss surrender charges, penalties, market value adjustments, early withdrawal tax penalties, and withholding options. It also explains the rules for accessing funds based on annuity type and withdrawal provisions or waivers. Learning Objectives Understand the various considerations involved in annuity withdrawals. Explain surrender charges, penalties, and market value adjustments that may apply during withdrawals. Understand the tax implications of annuity withdrawals, including penalties for early withdrawals. Describe the different rules and limitations for accessing funds from various types of annuities. Recognize situations where withdrawal charges may be waived. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 18: Premium Financing  This module covers premium financing, where loans are used to pay life insurance premiums, often for high-net-worth individuals or businesses. It explains loan structure, policy ownership, interest rates, repayment options, risks, and estate planning use and monitoring. It also defines a low point letter and details the information it should contain. Learning Objectives Define premium financing and its typical users. Understand the loan structure and policy ownership in premium financing. Explain the repayment options and risks associated with premium financing. Describe how premium financing can be used for estate planning purposes. Recognize the importance of professional guidance when considering premium financing. Understand the importance of monitoring the performance of financed policies and the purpose of a low point letter. Identify the yearly requirements for financed policies. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 17: Policy Surrenders This module covers policy surrenders, where a policy owner cancels coverage. It explains the surrender process, cash value returns, tax implications, and handling large loans. It also discusses the process of when a term policies lapse and those implications. Learning Objectives Define policy surrender and its implications. Understand who can request a policy surrender and the process of doing so. Explain how cash value and unused premiums are returned to the owner upon surrender. Recognize the potential tax consequences associated with policy surrenders, especially those involving large loans. Describe how term policies lapse due to non-payment. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 16: Policy Exchanges This module covers policy exchanges, replacing existing coverage with a new policy. It distinguishes exchanges from conversions and explains 1035, term-to-term, and term-to-perm exchanges. It outlines key considerations in the policy exchange process. Learning Objectives Define policy exchanges and their purpose. Distinguish between policy conversions and policy exchanges. Understand the different types of policy exchanges, including 1035 exchanges, term-to-term exchanges, and term-to-perm exchanges. Describe the requirements and considerations for each type of exchange. Recognize the importance of seeking professional guidance before making policy exchanges. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 15: Term Conversions This module covers term conversions, allowing policyholders to exchange a term policy for a permanent plan. It explains time frames, underwriting exemptions, partial and full conversions, higher premiums, and cases where conversion rights may not be available. Learning Objectives Define term conversion and its purpose. Understand the timeframe for term conversions and their limitations. Describe the process of converting a term policy to a permanent policy. Recognize that there is typically no underwriting involved in conversions, but optional riders may have full underwriting. Explain why converted policy premiums are usually higher than the original term premiums. Identify situations when term policies do not have conversion rights. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 14: Face Amount Increases This module covers options for increasing a life insurance policy’s face amount. It explains that term policies cannot be increased after the free-look period and that increases outside this period require new underwriting. It also explores face amount increases for Universal Life and permanent policies. Learning Objectives Understand the limitations on face amount increases for term life insurance policies. Explain the requirements for increasing the face amount during the free-look period. Describe how face amount increases are handled outside of the free-look period. Recognize the forms required for face amount increases. Understand the underwriting process for face amount increases. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more