LLQP Competency Profile

Ethics and Professional Practice

Legal Framework Governing Life Insurance

  • Integrate into practice the legal aspects of insurance and annuity contracts
    • Delimit the legal framework governing life insurance

Insurance Policy Provisions

  • Integrate into practice the legal aspects of insurance and annuity contracts
    • Characterize the parties involves in the contract
    • Contextualize the rules relating to the contract’s formation, taking effect, reinstatement and termination
    • Explain the main provisions and clauses of an insurance or annuity contract

Life Insurance, Accident & Sickness Insurance and Annuity Claims-Payment of Proceeds

  • Integrate into practice the legal aspects of insurance and annuity contracts
    • Integrate into practice the rules relating to beneficiary designation and exemption from seizure of benefits
    • Contextualize the rules relating to claims and the payment of benefits

Rules and Principles Governing the Activities of Life Insurance Agents and Accident & Sickness Insurance Agents

  • Integrate into practice the legal aspects of insurance and annuity contracts
    • Explain the role of the organizations that protect clients
    • Integrate into practice the obligations and responsibilities of life insurance agents

Life Insurance

Introduction to Life Insurance

  • Assess the client’s needs and situation
    • Articulate the client’s needs based on the risks that could affect their financial situation

Term, Whole and Universal Life Insurance

  • Assess the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs

Term Life Insurance

  • Assess the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs

Whole Life Insurance

  • Assess the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs

Universal Life Insurance

  • Assess the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs

Riders and Supplementary Benefits

  • Analyze the available products that meet the client’s needs
    • Analyze the riders that meet client’s needs

Group Life Insurance

  • Analyze the available products that meet the client’s needs
    • Analyze the riders that meet client’s needs

Taxation of Life Insurance and Tax Strategies

  • Analyze the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs
  • Assess the client’s needs and situation
    • Assess the appropriateness of the client’s existing coverage in regard to their situation
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Business Life Insurance

  • Analyze the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs
  • Assess the client’s needs and situation
    • Articulate the client’s needs based on the risks that could affect their financial situation

Application and Underwriting

  • Implement a recommendation adapted to the client’s needs and situation
  • Consider the impact of underwriting criteria as they apply to the client’s situation
  • Consider the requirements that must be met to implement the recommendation

 Assessing the Client’s Situation

  • Asses the client’s needs and situation
    • Determine the client’s situation
    • Assess the appropriateness of the client’s existing coverage in regard to their situation

Recommending an Insurance Policy

  • Asses the client’s needs and situation
    • Articulate the client’s needs based on the risks that could affect their financial situation
  • Implement a recommendation adapted to the client’s situation
    • Propose a recommendation adapted to the client’s needs and situation

Ongoing Service

  • Provide customer service during the validity period of coverage
    • Validate the appropriateness of contract amendment, renewal and termination application in regard to the client’s situation
    • Inform the claimant of the claims process

Accident and Sickness Insurance

Financial Protection Provided by Accident and Sickness Insurance

  • Assess the client’s needs and situation
    • Articulate the client’s needs based on the risks that could affect their financial situation

Insurance to Protect Income

  • Analyze the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs
    • Analyze the riders that meet the client’s needs

Insurance to Protect Assets

  • Analyze the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs
    • Analyze the riders that meet the client’s needs

Insurance to Protect Business

  • Analyze the available products that meet the client’s needs
    • Analyze the types of contracts that meet the client’s needs
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Client Profile

  • Assess the client’s needs and situation
    • Determine the client’s situation
    • Assess the appropriateness of the client’s existing coverage in regard to his or her situation
    • Articulate the client’s needs based on the risks that could affect their financial situation
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Insurance Recommendation, Contract and Service Needs

  • Analyze the available products that meet the client’s needs;
    • Analyze the types of contracts that meet the client’s needs;
    • Analyze the riders that meet the client’s needs;
    • Consider the impact of underwriting criteria as they apply to the client’s situation;
  • Implement a recommendation adapted to the client’s needs and situation;
    • Propose a recommendation adapted to the client’s needs and situation;
    • Confirm the requirements that must be met to implement the recommendation;
  • Provide customer service during the validity period of the coverage.
    • Validate the appropriateness of contract amendment, renewal and termination applications in regard to the client’s situation;
    • Inform the claimant of the claims process.

Group Plan Specifics

  • Assess the client’s needs and situation;
    • Determine the client’s situation
    • Assess the appropriateness of the client’s existing coverage in regard to their situation
  • Analyze the available products that meet the client’s needs;
    • Analyze the types of contracts that meet the client’s needs
    • Consider the impact of underwriting criteria as they apply to the client’s situation
  • Implement a recommendation adapted to the client’s needs and situation;
    • Propose a recommendation adapted to the client’s needs and situation
    • Validate the appropriateness of contract amendment, renewal and termination applications in regard to the client’s situation;
  • Provide client service during the validity period of the coverage
    • Inform the claimant of the claims process

Segregated Funds and Annuities

Investment and Savings

  • Assess the client’s needs and situation
    • Determine the client’s situation, investment objectives and investor profile
    • Articulate the client’s needs based on the risks that could affect their financial situation
  • Analyze the available products that meet the client’s needs
    • Analyze the advantages of segregated funds in comparison to other types of investments in regard to the client’s needs
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Segregated Funds

  • Analyze the available products that meet the client’s needs
    • Analyze the types of investments that can constitute a segregated fund and that meet the client’s needs;
    • Analyze the advantages and limitations of segregated funds in comparison to other types of investments in regard to the client’s needs;
  • Implement a recommendation adapted to the client’s needs and situation

Annuities

  • Analyze the available products that meet the client’s needs
    • Analyze the types of annuities that meet the client’s needs
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Investor Profile

  • Analyze the client’s needs and situation
    • Determine investment objectives and investor profile
    • Assess the appropriateness of the client’s existing coverage in regard to their current situation
    • Articulate the client’s needs based on the risks that could affect their financial situation
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Segregated Funds and Annuity Recommendation

  • Analyze the available products that meet the client’s needs
    • Analyze the types of investments that can constitute a segregated fund and that meet the client’s needs
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation

Segregated Funds Contract

  • Analyze the available products that meet the client’s needs
    • Analyze the advantages of segregated funds in comparison to other types of investment in regard to the client’s needs
  • Implement a recommendation adapted to the client’s needs and situation
    • Confirm the requirements that must be met to implement the recommendation
  • Provide customer service during the validity period of the coverage
    • Validate the appropriateness of contract amendment, renewal and termination application in regard to the client’s situation
    • Inform the claimant of the claims process

Annuity Contracts

  • Implement a recommendation adapted to the client’s needs and situation
    • Confirm the requirements that must be met to implement the recommendation
  • Provide customer service during the validity period of the coverage
    • Validate the appropriateness of contract amendment, renewal and termination application in regard to the client’s situation
    • Inform the claimant of the claims process

Group Retirement and Investment Plans

  • Assess the client’s needs and situation
    • Determine the client’s situation, investment objectives, and investor profile
    • Assess the appropriateness of the client’s existing coverage in regard to their situation
  • Analyze the available products that meet the client’s needs
    • Analyze the advantages of segregated funds and annuities in comparison to other types of investments
  • Implement a recommendation adapted to the client’s needs and situation
    • Propose a recommendation adapted to the client’s needs and situation
    • Confirm the requirements that must be me to implement the recommendation
  • Provide customer service during the validity period of the coverage
    • Validate the appropriateness of contract amendment, renewal and termination application in regard to the client’s situation
    • Inform the claimant of the claims process