You must have been wondering what CLU stands for in relation to an insurance agent before clicking on this link. Well, be rest assured that you are greatly covered as this article will guide you to know all about the CLU insurance agent.
What is CLU?
CLU is an acronym for Chartered Life Underwriter in relation to an insurance agent. They are responsible for assisting clients to choose an insurance policy that best suits them.
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What is a Chartered Life Underwriter?
Now that you know what CLU stands for it is important that you know who they are and what they do.
A chartered life underwriter specializes in helping or assisting people who wish to have security in accidental cases that may occur. Those who possess Certified Financial Planners (CFP) oftentimes add CLU to their qualifications.
The CLU is well sought after by operators intending to possess more authority in extra security for the purpose of business or domain arranging purposes.
What does a CLU do?
There are certain things the CLU agents do which is part of their job description to their clients. They can assist you with choosing a life insurance policy that favors you, as well as the height of security you need, and help you go through the policy requirements for the insurance you intend to buy.
They also work with private investments to help build advanced plans, organize their taxes and other lawful plans.
They are experts in helping you choose a plan that will best m situation. They are usually on standby for any information you want to have about purchasing life insurance to help you decide on what to go on with.
Qualifications to become a CLU
The qualification needed for the CLU program is for you to work at least three years of the last five years before you would be awarded an affirmation license. The American College of Financial Services runs the Chartered Life Underwriter Program.
You must attain five core and three elective courses which equal 24 semester credit hours and you are expected to score high in eight 100 questions given to you and a two-hour assessment.
The required courses needed are:
- Incorporate fundamentals of insurance planing.
- Individual life insurance.
- Life Insurance law.
- Fundamentals of estate planning
- Planning for business owners and professionals.
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Cost of working with a CLU
You ought to know that payments and charge systems usually change for CLUs. Despite the fact that the CLU is highly professional in risk management and protection arranging, only a few firms require the services of a CLU. The CLU earns installments according to the extra security premium purchased. This system is approved by the state as extra charges aren’t a problem any longer.
Understanding CLUs
The CLU program majors on morals and standard ways for inside and out information while giving assistance regarding guidance, issues of protection, business arranging, and home arranging.
The American College of Financial Services gives the CLU assignment. Money-related experts holding a CLU assignment get an average of 51% better salary than other colleagues on the field since they have the ability to support customers.
Below are the individual and budgetary arranging:
- Examining customer’s finances, distinguishing life, and medical coverage needs close enough to get to home property and obligation chances.
- Techniques that concerns important budgetary security through disaster protection and annuity items.
- Instructions to organize highly competent organizations with crucial authoritative and preventive arranging.
- Strategies to upgrade bequest esteem, help existing resources, and create monetary security for retirement.
Curriculum to become a CLU
The required 5 courses for the CLU program are listed below are:
- Planning for business owners and professionals
- Life Insurance Law
- Individual life insurance
- Fundamentals of estate planning
- Fundamentals of insurance planning.
Three courses are to be added to the five compulsory courses. You can choose among these courses below to pick your three:
- Group benefits
- Investments
- Estate Planning Applications
- Individual health insurance
- Income Taxation
- Financial Planning (process and environment)
- Planning for retirement needs
You must know that the coursework allows students to finish at their convenience.
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Conclusion
The presence of the CLU has eased the stress of looking out for the best insurance policy that fits in to solve your problems. They are professionals in the field hence you don’t have to worry about getting insurance that fits into your plans.
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