Tomorrow’s Security
Table of Contents
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Chapter 1: OBTAINING APPROPRIATE EDUCATION |
1 |
|
Mandated Education Requirements |
2 |
|
Gaining Additional Education Designations |
5 |
|
Subject Matter |
6 |
|
Insurance Losses Resulting from Climate Change |
6 |
|
Climate Impacts Affect Insurance |
7 |
|
Education for Retirement Planning |
8 |
|
Suitability/Best Interest Standards |
9 |
|
Financial Strength of an Insurer |
11 |
|
Chapter 2: PLANNING FOR TOMORROW |
16 |
|
PPA |
18 |
|
Social Security Benefits |
19 |
|
Pension Use of Annuities |
21 |
|
Buy-Out Annuities |
21 |
|
Buy-In Annuities |
22 |
|
Lifetime Income Annuity Buyouts |
23 |
|
Individual Retirement Accounts |
25 |
|
Estate Planning Advantages |
27 |
|
Everyone Needs a Will |
28 |
|
Holographic Wills |
28 |
|
A Good Time to be Living |
30 |
|
Chapter 3: DETERMINING FINANCIAL REQUIREMENTS |
32 |
|
Step #1 |
34 |
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Step #2 |
34 |
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Step #3 |
34 |
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Investing After Retirement |
35 |
|
Determining Where to Keep Assets after Retiring |
36 |
|
Fixed Annuities |
36 |
|
Variable Annuities |
36 |
|
Utilizing Personal Life Savings |
37 |
|
Continuing Current Investments |
37 |
|
The 4% Strategy |
37 |
|
Saving Versus Spending |
37 |
|
Early Retirement |
38 |
|
Chapter 4: RETIREMENT INCOME |
41 |
|
Considering All Options |
41 |
|
Social Security Income |
42 |
|
Divorce and Social Security Benefits |
45 |
|
Working Past Retirement Age While Collecting Social Security |
46 |
|
Disability Benefits Under Social Security |
47 |
|
Chapter 5: PENSIONS |
48 |
|
Historical Timeline |
49 |
|
The Future |
52 |
|
Future of Employer-Based Retirement Plans |
53 |
|
Pension Protection Act of 2006 (PPA) |
53 |
|
Pension Benefits |
55 |
|
Pension Basics |
55 |
|
Defined Benefit Plans |
56 |
|
Defined Contribution Plans |
57 |
|
Integrating with Social Security Benefits |
58 |
|
Achieving a Pension for Retirement |
59 |
|
Choosing Pension Payment Options |
60 |
|
Financially Troubled Pensions |
63 |
|
Chapter 6: ANNUITIES |
67 |
|
Immediate Annuities |
67 |
|
Deferred Annuities |
68 |
|
Variable Annuities |
68 |
|
Interest Rate Paid |
70 |
|
Surrender Penalties |
71 |
|
Administrative Charges |
73 |
|
Contract Clauses |
74 |
|
Bail-Out Clauses |
74 |
|
Market-Value Adjustments |
75 |
|
Persistency Bonus |
75 |
|
Partial Withdrawals |
76 |
|
Annuity Payout Options |
76 |
|
“Option” Means Policyowner’s Choice |
78 |
|
Single-Life Annuity |
78 |
|
Life-and-Period-Certain Annuity |
78 |
|
Joint-and-Survivor Annuity |
79 |
|
Other Methods of Collecting Income |
80 |
|
Systematic Withdrawals |
80 |
|
Lump-Sum Payments |
81 |
|
Split-Funding Techniques |
81 |
|
Annuity Taxation |
82 |
|
Withdrawal Penalties |
83 |
|
Chapter 7: LIFE INSURANCE |
84 |
|
Chapter 8: LONG-TERM CARE INSURANCE |
89 |
|
Why Buy a Long-Term Care Policy? |
90 |
|
Defining Policy Benefits |
91 |
|
Types of Care Facilities |
98 |
|
Levels of Care Definitions |
98 |
|
Qualifying for a Policy |
99 |
|
Understanding What is Not Covered |
100 |
|
Choosing Daily Benefit Levels |
101 |
|
Are There Alternatives to Long Term Care Policies? |
104 |
|
Availability of Nursing Facilities |
114 |
|
A Financial Industry |
117 |
|
Facing Up to the Facts |
119 |
|
Applying to Medicaid |
123 |
|
Financial Considerations |
127 |
|
Monetary Investments |
128 |
|
Business & Real Estate |
128 |
|
Retirement Funds & Pensions |
128 |
|
Insurance Products |
129 |
|
Personal Possessions |
129 |
|
Finding a Qualified Professional Advisor |
131 |
|
What Will the Future Bring? |
132 |
|
Partnership Plans |
132 |
|
Program Benefits |
132 |
|
Making Benefit Choices |
133 |
|
Daily Benefit Options |
134 |
|
Expense-Incurred and Indemnity Methods of Payment |
135 |
|
Determining Benefit Length |
135 |
|
Asset Protection in Partnership Policies |
136 |
|
Chapter 9: PLANNING TOOLS |
137 |
|
Living Trusts |
137 |
|
Revocable Living Trusts |
138 |
|
Avoiding Probate |
139 |
|
Revocable Living Trust Disadvantages |
139 |
|
Durable Power of Attorney |
140 |
|
Guardians, Conservators & Committees |
141 |
|
Irrevocable Living Trusts |
142 |
|
Disadvantages of Irrevocable Living Trusts |
144 |
|
Types of Irrevocable Living Trusts |
145 |
|
Uniform Gifts to Minors |
148 |
|
Testamentary Trusts |
148 |
|
Combination Trusts |
149 |
|
Trust Record-Keeping |
150 |
|
Trustees |
151 |
|
Planning for Death |
151 |
|
Joint Accounts |
153 |
|
Choosing an Attorney |
154 |
|
Special Provisions |
155 |
|
Special Agreements |
161 |
|
Wills are Necessary to Insurance and Estate Planning |
164 |
|
Gifting |
167 |
|
Third party transfers |
168 |
|
Indirect gifts |
169 |
|
Sham gift |
169 |
|
Property Transfer |
174 |
|
Chapter 10: CYBER INSURANCE |
176 |
|
Recommendations for Placing Cyber Insurance |
180 |
|
Chapter 11: INSURANCE ETHICS |
183 |
|
A Consumer Issue |
183 |
|
State Laws Require Ethical Insurance Behavior |
184 |
|
A Sound Base |
185 |
|
Ethics Beyond Philosophers |
186 |
|
History Was Not Always Fair |
187 |
|
Being Ethically Responsible |
188 |
|
Caring for Others |
189 |
|
Teaching Ethical Views |
192 |
|
A Legal Liability |
193 |
|
Merging Past, Present and Future |
193 |
|
Mandating Behavior |
198 |
|
The Importance of Ethical Conduct in Business |
200 |
|
Claims Leakage (CL) |
203 |
|
IFRS Reporting |
204 |
|
Insurance Fraud |
209 |
|
Elements of Fraud |
210 |
|
Knowingly Making a False or Misleading Statement |
210 |
|
The Statement is made in Connection with an Expected Payment from a Policy |
210 |
|
It is a Material Statement |
210 |
|
Penalties |
211 |
|
Choosing our Path |
212 |
|
Choosing to be Actively Ethical |
213 |
|
Sales Techniques |
217 |
|
Selling Ethically |
219 |
|
Education |
219 |
|
Laying Out Policy Benefits and Limitations |
223 |
|
Policy Replacement |
226 |
|
Allowing Consumer Misconceptions |
227 |
|
Consumers and Premiums |
228 |
|
Obtaining Legal Application and Policy Signatures |
229 |
|
Providing Client Services |
229 |
|
“Fast-Buck” Items |
230 |
|
Commingling Funds |
231 |
|
Unwritten Rules |
234 |
|
Ethical Insurance Behavior |
236 |
|
236 |
|
|
Example #2 |
237 |
|
Example #3 |
238 |
|
Example #4 |
239 |
|
Example #5 |
240 |
|
A Matter of Character |
240 |
|
Why be Ethical? |
241 |
|
Is it possible to teach ethical behavior? |
242 |
|
What is the scope of ethics? |
244 |
|
What does it take to be a moral person? |
245 |
|
Example #1 |
247 |
|
Example #2 |
248 |
|
Example #3 |
249 |
|
Example #4 |
250 |
|
What are our responsibilities to other moral persons? |
250 |
|
Ethics in Action |
252 |
|
Human Nature |
253 |
|
Sympathy & Empathy |
258 |
|
Learning to be Ourselves |
262 |
|
Ethics and Public Knowledge |
263 |
|
Determined by Law |
264 |
|
Insuring Morality |
266 |
|
Consent is Everything |
268 |
|
Male Harassment |
270 |
|
Sexual Harassment: An Ethical Topic |
271 |
|
Moral Issues Having a Financial Impact |
272 |
|
Recognizing a Moral Issue from an Insurance Standpoint |
273 |
|
Insurers Saw It Coming |
274 |
|
Employment Security and Sexual Harassment Claims |
276 |
|
Initiating Training |
278 |
|
The First Legal Case |
282 |
|
Reporting Abuse |
283 |
|
Protection Through Insurance |
286 |
|
Sample Memorandum Regarding Sexual Harassment |
286 |
|
Sample Policy Statement |
287 |
|
Sexual Harassment Investigation Checklist |
291 |
|
Sexual Harassment Checklist |
292 |
|
Employment Practices Liability Coverage |
293 |
|
Bullying |
304 |
|
Adult Bullying |
304 |
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United Insurance Educators, Inc.
(253) 846-1155