Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam. In this episode you will learn: • The critical differences between the Human Life Value approach and the Needs Approach for determining coverage. • How Key Person insurance is structured and the specific tax treatment of its premiums and benefits. • The mathematical formula for determining the number of policies needed in a Cross-Purchase Buy-Sell agreement. • How Section 162 Executive Bonus plans function as a deductible expense for employers but taxable income for employees. • The definition of the Social Security Blackout Period and its impact on survivor income planning. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep