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SOCIAL SECURITY
The most significant insurance expense for most individuals is their contribution to social security. Social security also provides a significant portion of the benefits that will be paid to an individual or family because of death, disability, or old age. However, social security by itself is rarely adequate to meet all needs. The life insurance agent plays a significant role in providing economic security by offering the products necessary to supplement social security—products such as life insurance, disability insurance, medigap policies, long-term care insurance, and retirement plans. In order to properly design coverage for clients, it is necessary for the life insurance agent to understand exactly what social security does, and, more important, what it does not do.
112VH95
Life insurance agents who complete this course will earn continuing education credit in most states. This course is also eligible for credit under PACE, the joint continuing education program of The American College and the American Society of CLU & ChFC. In most cases continuing education credit will also be granted by other professional designation programs.
To determine the acceptability for continuing education credit as well as the number of credits that are granted, see the enclosed continuing education credit guide.
SPECIAL NOTES TO STUDENTS
(610) 526-1490.
ACKNOWLEDGMENTS
This course was written by Burton T. Beam, Jr., CLU, ChFC, CPCU, director of Continuing Education at The American College, and Egnar F. Jensen, CLU, FLMI, director of Continuing Education Development at the The American College. It is based on material written for HS 325, Group Benefits, a course in the College’s CLU/ChFC curriculum. The editor was Emily Sims, and the production assistant was Christina Hansen.
Copyright © 1996
The American College
All rights reserved
July 1997 edition
For each continuing education course The American College prepares a course guide that is designed to assist you in becoming thoroughly familiar with the material. The course guide can be used if you earn continuing education credit either by self-studying and taking the course examination or by attending a classroom or video presentation of the course material.
If you self-study, use the following parts of the course guide:
These objectives tell you what you will be able to do after you have completed the course.
This is the material you must understand in order to pass the continuing education examination for the course.
This is an outline of the material in the reading. It serves as a review of the major points covered in the course.
Answer the study questions. They are a key to the important concepts and a basic testing of the material in the course reading. Each question has a page reference to the course reading and space for notes or answers.
Using the page references in part IV, you should Selected Study Questions have no difficulty verifying your answers to the questions. However, some questions may be in the form of case studies, fact patterns, or mathematical problems. These questions are answered in part V.
These true-false Questions and Answers questions will give you an indication of whether you have mastered the course material and should proceed to take the course examination. Each question has a page reference to the reading. Answers and an explanation of all false items appear at the end of the section.
These terms consist of new vocabulary specific to the subject matter. There is space to define each term.
Ten questions to test your mastery of the course in a nutshell, with answers to all questions.
Questions that give you an opportunity to critique the material and suggest changes.
When you have completed the course guide, take the multiple-choice examination that is contained in the separate examination package. You must follow the examination rules precisely in order to receive continuing education credit.
Classroom or Video Attendance
If you are attending a classroom or video presentation of the course material, use the following parts of the course guide:
These objectives tell you what you will be able to do after you have completed the course.
This is the material you must understand in order to pass the continuing education examination for the course. You may want to read it before you attend the presentation of the course material or use it to reinforce your understanding of the material after the presentation.
This is an outline of the material that will be presented. Opposite each page of outline material is a blank page for notes.
These true-false questions will give you an indication and Answers of whether you have mastered the course material and should proceed to take the course examination. Each question has a page reference to the reading. Answers and an explanation of all false questions appear at the end of the section.
These terms consist of new vocabulary specific to the subject matter. There is space to define each term.
Ten questions to test your mastery of the course in a nutshell, with answers to all questions.
Questions that give you an opportunity to critique the material and suggest changes.
When you have completed your review of the course guide, take the multiple-choice examination that is contained in the separate examination package. You must follow the examination rules precisely in order to receive continuing education credit.
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