A Human Resource Certification Institute (HRCI) Pre-approved Training Course
Fundamentals of Life Insurance and Retirement Savings
Protect and Empower the Financial Capacity of People
Course Overview
This GLOMACS Fundamentals of Life Insurance and Retirement Savings training course provides the appropriate techniques to offer each participant the knowledge and skills needed for more productive work and to suggest the necessary adjustments required in behavior, towards greater efficiency. Private Life Insurance applications extend to our lives, our health, our debt protection, and our future. They can deal with hazards that threaten our beloved ones and our wealth, stemming from unforeseen situations such as an accident, or a dread disease, financial uncertainties, and many more. Private Life Insurance seems to be appropriate to care for our retirement years, and even more so in the current downturn of the Social Security systems to meet our desires and our needs for a retirement life with financial stability.
Life Insurance is a global market controlled by a strong framework and constrained by a tight economic environment. Life insurance is used as the means of people to achieve financial stability throughout their lives. Central to this work are modern techniques used to determine the insurance needs to be filled and to select the best and unique solution for the benefit of each insured person. Through the commonly used Financial Planning Process, Insurers can help people set and implement their financial goals.
This GLOMACS training course will highlight:
- The Basics and Laws governing the Insurance Market
- How Underwriting and Claims Procedures are operating in Life Insurance
- An examination of Life Insurance Needs and the Financial and Insurance Planning Process
- Principles of Life Protection products including the Accident and Health Products
- An analysis of the investment products
- How the Private Pension products on the three pillars of Retirement Planning work
- The Retirement Savings Options?
Training Outline
DAY 1: Fundamentals of Life Insurance
- The Definition and Objectives of Insurance
- The Principle of Insurable Interest as Applied to Life Insurance
- Utmost Good Faith and the Duty to Disclose
- Actuarial Principles - How is the premium calculated?
- Life Insurance Underwriting Procedures
- Life Insurance Claims
- Life Distribution Channels and Roles
DAY 2: Identifying and Materializing Life Insurance Needs
- Personal Protection Needs of Life insurance – The Unforeseen Needs
- Early Death
- Permanent Disability
- Medical Care
- Personal Requirements for Systematic Savings – The Predictable Needs
- Professional Insurance Needs – Protecting the Stakeholders’ Shares
- Keyman Replacement
- Identifying Financial Needs - Collection of Information Questionnaire
- Financial Planning - The Disposable Income
- The Financial and Insurance Planning Process
DAY 3: Main and Supplementary Personal Insurance Products
- Term Insurance Types and Uses
- Lump-sum and Family Income
- Traditional Whole-life insurance Policies
- Supplementary Benefits of Life Insurance
- Waiver and Disability
- Critical Illness
- Long Term Care
- The Personal Accident Plan
- Medical Expenses and Health Insurance
- Benefits and Exclusions
- The Loss of Income Rider
DAY 4: Unit-Linked Investment Policies – Pension Plans
- Savings and Investment Products
- Endowment Policies
- Investment Products – Unit-linked and Universal Policies
- Investment Funds
- Bid and Offer Pricing
- Private Pension Products – Life after Retirement
- Group Life Insurance Master Plans
- Group Professional Pension Products
- The Management Committee
- The Management Committee
DAY 5: Retirement Savings Options – Funds and Annuities
- Sources of Income in Retirement – Surrendering Cash Value
- The Investment Pyramid
- Duration of Pension
- The Level of Capital Needed
- Solutions to the Interest Rate Level
- Time and Exit Principle (Liquidity)
- Annuities
- The Principle of Whole-life Pension
- The Principle of Whole-life Pension
- Whole-life Ways of Distributing Capital Gains
Certificates
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Re-Certification credits from HR Certification Institute (HRCI), will be awarded to the delegates
Accreditation
GLOMACS is proud to hold the Approved Provider status with HR Certification Institute (HRCI®), an internationally recognized certifying organization for the human resource profession. This partnership grants us the ability to provide pre-approved HR Courses which qualify for re-certification credit of HR Professionals.
HR Certification Institute's® (www.HRCI.org) official seal confirms that GLOMACS meets the criteria for pre-approved recertification credit(s) for any of HRCI’s eight credentials, including SPHR® and PHR®."
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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