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COURSE OVERVIEW
In our society, the ability to work is extremely importantit provides income, access to health insurance, and in many cases, retirement benefits. A significant proportion of our population becomes disabled every year and is unable to continue working. The income lost during such periods of disability can be almost completely replaced by disability insurance benefits. Disability insurance policies are available to provide short-term, long-term, and/or lifetime benefits. They can provide both monthly and lump-sum payments to fund business buy-sell agreements in the event of the disability of a business owner. Persons providing insurance or financial advice should be familiar with the types of disability coverage available and know what sort of restrictions and limitations are generally applicable.
115-VK95
CONTINUING EDUCATION CREDIT
The completion of this course will earn continuing education credit for life insurance agents 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
This publication is designed to provide accurate and authoritative information about the subject covered. The American College is not engaged in rendering legal, accounting, or other professional service. If legal or other expert advice is required, the services of an appropriate professional should be sought.
The material in this course guide was current on the date it was prepared for printing, but some material may have changed by the time you complete the course. If you are planning to earn continuing education credit by taking the course examination, the examination package explains the examination policy of The American College regarding information that may have changed since the course guide was prepared.
If you have any questions, call The American Colleges Office of Student Services at (610) 526-1490.
ACKNOWLEDGMENTS
This course was written by Egnar F. Jensen, CLU, FLMI, director of continuing education development; it is based on material written by Edward E. Graves, CLU, ChFC, associate professor of insurance at The American College. The reading is reprinted (with changes) from McGills Life Insurance (The American College, Bryn Mawr, PA: 1994). The course editor was Keith de Pinho, and the production assistant was Jane Hassinger.
Copyright © 1990
The American College
All rights reserved
June 1995 edition
HOW TO USE THE COURSE GUIDE
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 presentation of the course material.
Self-Study with Examination
If you self-study, use the following parts
of the course guide:
Part 1Course Objectives Part 2Course Reading Part 3Course Outline Part 4Study Questions Part 5Answers to Selected Study Questions Part 6Review Questions and Answers Part 7Key Terms Part 8Quick Quiz Part 9Evaluation Forms 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.
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 4, you should 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 5.
These true-false 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.
If you are attending a classroom
presentation of the course material, use the following parts of the course guide:
Part 1Course Objectives Part 2Course Reading Part 3Course Outline Part 6Review Questions and Answers Part 7Key Terms Part 8Quick Quiz Part 9Evaluation Form 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.
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 to take notes on.
These true-false 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 the
questions.
Questions that give you an opportunity to critique the material and suggest changes.
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