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This course examines how life insurance planning is evolving within a rapidly changing financial, regulatory, and client-demand environment, and how to position life insurance as more than just “mortality protection” in contemporary practice. Using practical case studies, the presenters explore why today’s planning discussions increasingly emphasize longevity and long-term care risk (not just premature death) and how life insurance can be incorporated into retirement income planning alongside tools like income annuities and Social Security strategies.
The course also covers the increasing complexity of products and illustrations, including indexed universal life (IUL) and transparency issues that have led to updated guidance on illustrations (AG 49 and related updates). It clarifies key differences between long-term care and chronic illness benefits, their triggers, and planning implications. You will learn how cash value life insurance can provide flexible “lifetime exit” options such as retirement income supplements, buffers against market volatility, and potential long-term care funding. Additionally, advanced strategies may help higher-net-worth clients with legacy and tax planning, including framing life insurance as an inherited IRA alternative under SECURE Act distribution rules.
Throughout, the course emphasizes the importance of disciplined client education, managing expectations, and collaborating with CPAs, attorneys, and long-term care specialists to develop plans resilient across various risk scenarios.
Learning Objectives
Upon successful completion of this learning activity, you will confidently be able to:
- Identify key challenges affecting life insurance planning in today’s environment (for example, complexity, legal changes, technology, and perception).
- Describe how life insurance can address three different client risks: mortality (dying too soon), longevity (living too long), and morbidity (health and long-term care events).
- Recognize characteristics of clients for whom indexed universal life (IUL) may be appropriate, including the need for a long time horizon and the importance of consistent funding.
- Distinguish between a long-term care (LTC) rider and a chronic illness rider by identifying differences in common benefit triggers and tax code treatment (for example, 7702B vs. 101G).
- Explain basic ways cash value life insurance may be used in retirement planning (for example, supplementing retirement income, providing a liquidity buffer during down markets, or bridging income to delay Social Security).
Presenters
Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®
Paul Wetmore, MBA, LUTCF®, CLU®, FSCP®
Bonus Content
Bridge the gap between complexity and clarity when meeting with your clients. Download the following guides from fpPathfinder.
CFP® CE Credit
This content is eligible for one hour of CFP® continuing education (CE) credit.
If you hold the CFP® mark and would like to receive CFP Board CE credit for this content, please ensure your CFP® ID number is entered here.
The College’s Professional Recertification Program (PRP)
This content is eligible for one hour of PRP continuing education credit.
To begin, click on the button below. As you move through the content, make sure to mark each page complete by clicking on the appropriate button, and then click Next Lesson at the bottom of each page. Once you complete the entire activity, the progress bar will show 100%.
Life Insurance in a Changed Planning Environment
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