Online course: LOMA 311 – Business Law for Financial Services Professionals

Tematica

• Gain a broad understanding of the legal system and regulatory environment in the United States and understand how life insurance and financial services companies operate within these environments.
• Distinguish among the various types of legal systems and the four primary sources of law, and understand common legal terms such as litigation, tort, disputes, mediation, civil, criminal, fraud, contracts, legal action/lawsuits, equitable, anti-trust, and securities.
• Recognize the types of workplace standards, nondiscrimination requirements, and required benefits that U.S. federal and state laws typically impose, as well as the Federal government’s role in regulating the insurance industry.
• Describe the agency relationship, identifying the types of activities life insurance producers typically have actual authority to perform on behalf of an insurer, the extent of authority to act on behalf of a principal, what liabilities may exist, and how the relationship can be terminated.
• Understand legal issues related to the sale of annuity contracts, mutual funds, and other financial services products that qualify as securities; identify the types of regulatory requirements that federal securities laws impose on these products and their issuers.
• Describe policy benefits and features to which policyowner are legally entitled – including withdrawal provisions, reinstatements, policy loans, nonforfeiture options, settlement options, and policy surrenders – and the variety of legal actions that may be pursued by parties to the policy.
• Identify the types of groups eligible for group life insurance; describe how group life insurance contracts are formed and regulated by both state and federal requirements; and explain the rights of group insureds under a group life insurance policy.
• Identify financial products that qualify as securities, and describe the types of regulatory requirements that federal securities laws impose on securities and on the individuals and companies that issue and sell securities.
• Describe regulatory requirements to protect personal consumer information that state, federal, and international privacy laws impose on financial institutions.
• Explain how insurers determine the proper payee of life insurance policy proceeds in situations involving conflicting claimants, common disasters, and short-term survivorship, and how they handle life insurance claim situations that involve policy exclusions, disappearance of the insured, disqualification of the beneficiary, and accidental death benefits.