LOMA 281 — Meeting Customer Needs With Insurance And Annuities

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Overview

LOMA 281 is an engaging, highly interactive online course that describes the features of individual and group life insurance and annuity products. It emphasizes how insurance companies serve customers and meet customer needs through the products they provide.

LOMA 281 is part of the two-course FLMI Level 1 Certificate in Insurance Fundamentals. Learn more about this series.

Duration

10-16 hours to complete

Related Designations

FLMI Level 1 Certificate in Insurance Fundamentals, Associate, Life Management Institute, Fellow, Life Management Institute, Associate, Customer Service, Associate, Insurance Regulatory Compliance, Associate, Reinsurance Administration

Special Features

Counts Toward Multiple Designations Designation Course Exam Within Course Great for New Employees Online

Topics

• Introduction to Risk and Insurance
• The Life and Health Insurance Industry and Its Regulation
• Life Insurance Policies as Contracts
• Financial Design of Life Insurance Products
• Meeting Customer Needs
• Term Life Insurance
• Cash Value Life Insurance
• Supplemental Benefits
• Individual Life Insurance Policy Provisions
• Life Insurance Policy Ownership Rights
• Annuities
• Principles of Group Insurance
• Group Life Insurance
• Group Retirement Plans
• Health Insurance Overview

Objectives

• Describe the characteristics of insurable risks and identify common risk classes for proposed insureds.
• Explain the role of underwriters and how they assess specific risks.
• Discuss the roles of the U.S. state and federal governments with respect to insurance regulation.
• Explain how insurers use mortality tables for pricing products, and describe the effect that mortality rates have on the cost of benefits and the premium rate for a block of policies.
• Describe the benefits and features of term life insurance, whole life, joint whole life, universal life, variable life, and variable universal life insurance products.
• Identify different types of annuity products, describe the features of each type, and explain how each type works.
• Explain various features of a life insurance policy, including the free-look provision, the incontestability provision, and the grace period.
• Discuss the property rights, dividend options, and settlement options a policyowner has in an individual life insurance policy.
• Identify the parties to a group insurance contract, the typical eligibility requirements, and the factors used to underwrite a group insurance contract.
• Describe the basic elements of employer-sponsored retirement plans, who is involved, why these plans exist, and why insurers are ideally suited to meet this market need.

Format

Course Format

LOMA's popular online interactive designation courses teach important industry concepts through an engaging, highly interactive, multi-media approach that often includes integrated video, audio, and scenario-based learning.

• Technical Requirements for LOMA Online Courses

Exam Format

Integrated Exams

Online interactive designation courses include self-proctored exams — the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment required!

Pricing and Enrollment

Pricing

See North American course pricing.

Enrolling in Courses With Proctored Exams

1. Log in to your LOMA Learning account using your login ID and password.
2. Browse the Learning Catalog for the course in which you would like to enroll.
3. Select ADD TO CART next to the items in which you would like to enroll.
4. Return to the catalog to continue searching for courses and add additional items to your shopping cart, or click the shopping cart to check out.
   • Note: if you have not already done so, you will be prompted to log in to the LOMA learning system at this time. Once you have successfully logged in, click the shopping cart again to begin the checkout process.
5. Review your shopping cart, and add any promotional or order discount code. Click CHECK OUT to proceed.
6. If you are purchasing a physical product (example: a textbook), complete the SHIPPING information screen.
7. Enter payment information.
   • If your company has set up direct billing with LOMA, an account code will appear next to the “Bill My Company” field.
   • If you are using direct-to-company billing method, ensure that the radio button next to the “Bill My Company” field is selected and then click “Next” to continue.
   • If you are paying for your enrollment by credit card, enter all of the required fields for a credit card transaction. Once you have provided all of the required information, click “Next” to continue.
8. Review your order, accept LOMA’s Terms and Conditions, and click BUY NOW. An enrollment confirmation will be emailed to you.

Contact Us

View professional development opportunities and read course offering details.

Browse our complete course catalog via the Learning System and enroll.

Have questions? Email us at [email protected].

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