Life and health insurance producers can complete their continuing education requirements for their license renewal with this current and updated course. The course includes 20 hours of elective credits and four hours of current law and ethics education for a total of 24 hours of CE credit.The course begins with an advanced, in-depth look at health insurance industry terms and concepts, underwriting, sources of information, risk factors, replacement and how gaps in coverage are addressed. This is followed with a detailed lesson on federal health insurance taxation, including current material on tax-favored health plans with contribution and tax-deductibility data, group and individual plans, business disability insurance taxation, medical expense tax issues, long-term care and more. The next lesson in the course dives into the modern world of credit insurance, including information for insureds, carriers and producers, how the policies work and are issued, the rules surrounding credit insurance and more.
Life insurance federal taxation is next, with a thorough discussion of taxation on personal life insurance, including cash value issues, loans, group insurance tax concerns, amounts available to beneficiaries, potential estate value issues and how settlements affect taxes. Modified Endowment Contracts, or “MECs” are scrutinized with a look at TAMRA legislation and the seven-pay test. Taxation of annuities follows including IRAs, qualified and non-qualified products, and IRS Section 1035 exchanges.
The next lesson in this course explores anti-money laundering (AML) concerns and how the insurance industry is affected by money laundering. Topics explored include the history of money laundering, the steps in the process, money-laundering detection efforts and some notable cases of the crime. National efforts to combat money laundering are investigated, including federal AML legislation such as the Bank Secrecy Act, the Financial Crimes Enforcement Network, intelligence reform and terrorist money laundering and international efforts in fighting the issue. Obligations of insurance companies are reviewed, including covered products, training and reporting. Next is a lesson on data security – an important consideration for insurers, agencies, agents and clients in this day and age. A lesson on insurance technology is brought into the mix, with an emphasis on how technology is used and can assist insurance companies in the industry. The last lesson is on new and revised laws and rules in the state and a large section on insurance ethics. This lesson is required for producers in the state as part of their continuing education.
Show Course ID: 1
- Course ID(s): 125117, 124005
- Approved By: Florida Department of Financial Services
Life and Health Insurance Instructor Joel Daniels is an experienced business professional in the insurance industry, with an established track record of leadership, development, account management, relationship building, and brand integrity. In his insurance business, Joel works tirelessly with his allies and strategic partners to impact communities by providing access to affordable and usable health and wellness benefits options. Here at At Your Pace Online, Joel is a highly engaging instructor. He presents insurance continuing education to licensees so that they can grow in their knowledge of the trade with confidence, benefitting their own business growth as well as the overall well-being of their clients.