Inforce Certification
Be an Industry Leader
Finseca’s certifications are meeting a need in the financial services industry for consistent training and continuing education for the brokerage community.
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Inforce Certification
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. The program, which has been designed with a life insurance focus, is comprised of 21 online learning modules with mastery quizzes for each module.
Certification Pricing
$595 – Member
$995 – Non-Member
Non-Finseca Members
- Begin by creating an account in the Finseca Learning Center. Then come back to purchase the course below!
- Once you’ve created an account you can then, Purchase the course from our Store Front.
- The first course in the series will be added to your Dashboard.
Finseca Members
- Begin by Logging in at MyFinseca.org. Once you’re signed in you can Purchase the course from our Store Front.
- The first course in the series will be added to your Dashboard.
Explore Individual Modules
Policy Services Overview
This module provides an overview of the Policy Services Department (Inforce/Policy Holder Services) and its role in supporting advisors and policyholders’ post-issue. It covers key services like policy updates, payment changes, and reinstatements while highlighting the importance of confidentiality, strong customer service, and timely actions.
Technology
This module reviews how technology is used in Inforce policy management, including the evolution of online access to policy information. It explains how online portals reduce reliance on call centers and the benefits of 24/7 access for advisors and policy owners. It covers software products that use data feeds for policy information and sales opportunities, the sale of Inforce blocks of business by carriers, and how to determine the company holding a policy.
Free Look Period
This module defines the free look period, during which a new policy owner can cancel their policy for a full premium refund without penalties. It covers situations when a free look period may apply after the policy is in force and highlights how free look periods vary by state and product type.
Duplicate Policies
This module addresses duplicate insurance policies, including life, disability, long-term care, and annuities. It explains how policies are delivered, the importance of retaining copies, and how policy owners can request duplicates if documents are lost or destroyed.
Inforce Ledgers and Illustrations
This module details the purpose and use of Inforce illustrations, which show policy performance for permanent life insurance policies and hybrid contracts. It explains how these illustrations can be requested after a policy has been in force for at least one year and helps clients make changes to their contracts. It also highlights the need to provide specific information when requesting illustrations to avoid delays.
Policy Details
This module highlights critical information in the final policy copy and on the carrier website, including policy dates, endorsements, rate class, termination details, and owner and beneficiary data. It covers premium tables, modal factors, riders, fees, and conversion options. It also emphasizes that changes to a permanent policy should be accompanied by an Inforce illustration to show their effect.
Annual Statements
This module defines annual life insurance statements, which provide yearly reports on policy status. It details the information included and how to request statements from your carrier.
Billing Invoices
This module explains how billing invoices are managed for life insurance policies, starting with the policy date and initial premium payment. It covers available payment modes and how clients can set up recurring payments. It also addresses the billing process for non-draft payments, the importance of maintaining an updated address, grace periods, and how payment receipts and notifications for failed drafts are handled.
Inforce Changes
This module reviews various policy changes that can be made once a policy is in force and how changes can be requested or managed.
Collateral Assignments
This module covers collateral assignments, using life insurance as loan security. It explains assigning a portion of the death benefit to a lender, processing forms, and managing multiple assignments. It also addresses lender priority, legal considerations, and releasing assignments when loans are repaid.
Policy Loans
This module covers policy loans, allowing policyholders to borrow against a policy’s cash value. It explains loan limits, interest rates, repayment options, tax implications, and their effect on the death benefit. It also highlights the importance of Inforce illustrations to assess loan impact on policy performance.
Rate Reductions or Reconsiderations
This module covers rate reconsiderations, where insurers may lower premiums based on health or lifestyle improvements. It outlines the request process, including forms, medical reviews, and potential exams. It also addresses timelines, costs, and the possibility of rejection.
Reinstatements
This module covers reinstatements, the process of reactivating a lapsed policy. It explains requirements for recent vs. older lapses, medical evaluations, fees, and potential denials due to health changes. It also considers when a new policy may be a better option.
Face Amount Increase
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.
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.
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.
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.
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.
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.
Tax Forms
This module covers Section 7702 of the Internal Revenue Code, which defines requirements for life insurance policies to qualify for favorable tax treatment, including tax-deferred cash value growth and tax-free death benefits. It explains how ownership changes affect this section and defines Interpolated Terminal Reserves (ITR). Additionally, it covers the purpose of IRS Form 712 and when it is required.
Contestability and Claims
This module explains the contestability period in life insurance policies, detailing how insurers review claims for misrepresentation or omissions during this period. It also outlines the claims process, including the required information, beneficiary verification, and the typical timeline for claim processing.
What's Next?
The NAILBA Community is partnering with the Finseca Learning Team to provide you with new professional development designed exclusively for case managers. Topics will include Licensing, Underwriting, and Case Design. Stay tuned for more NAILBA certification!
