College Education and Funding - NY

Insurance Continuing Education in New York

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Your Price: $12.71

regular price: $14.95

7 credit hours

If purchased today, this course must be completed by:
November 30, 2021 (158 Days)

The New York Department of Insurance has waived their normal proctor requirement, until further notice. A licensed monitor is no longer required to be present during your exam. You will instead need to electronically sign an Affidavit of Personal Responsibility, and that affidavit will be completed online as part of your final exam.
Description

This course was designed, constructed and written to provide you with continuing education for Financial Professionals in the area of individual planning and saving for education with special attention to Qualified Tuition Plans…529 Plans and Coverdell Education Expense Accounts

It acknowledges and includes some examination of the Roth and traditional IRAs, Student Aid, UGMAs and UTMAS, as well, due to the competing needs of retirement and education. It also highlights withdrawal opportunities and tax consequences for education expenses that are a common component of government sponsored accumulation programs.

Besides the goal of acquiring additional credits toward your continuing education requirement, it is our hope that you will acquire a new level of competency and insight into this highly critical area of people’s financial future…saving and accumulating dollars for use in the future for education.

Education and Retirement are the two most critical needs that people plan and save for. Yet, both of these objectives and needs compete for a limited amount of money available in most situations. As time goes by, individuals’ situations change with respect to their available discretionary income, tax brackets, and family situations. In addition, tax law changes, program availability, and feature modifications are constantly being reviewed, updated, and changed. Some save separately specifically for retirement and education. Some save for the future (retirement), and take care of education as best they can when it occurs prior to their retirement…or some combination of both!

Yet some things are fundamental and seldom, if ever, change. Accumulating funds for the future depends on money, time, a vehicle, and consistency. With so many plans and places to save or invest in, the real key is to start putting aside funds so that an educational nest egg is available down the road. The more one puts away today, the more it grows. The higher yield or growth each dollar earns makes it compound faster and greater. The less the taxes we pay when we put it away, as it grows, and when we take it out allows for each dollar to work harder, grow larger, and provide for more of its intended usage. And, to the extent we have planned ahead for certain amounts to be available at specific times in the future, the more motivated we are to put aside on a regular basis an amount that will grow to what is needed in the future (consistency).

Your study text is comprised of 9 chapters with pages of charts, graphs, and other visual tools for enhancing the value of the information for you as well as to enhance your recall beyond the course.

Whether you are a newer agent or a veteran, we’re confident that you will gain new insight into this critical area for Americans as well as brush up on current info and regulations pertinent to this area of your expertise.

Among others, the main course objectives include the following:

  • Inform students about practical and useful realities in the educational financial environment, government involvement and the various economies that relate to providing for future education needs.
  • Increase student’s overall competency in Education saving issues.
  • Increase student’s specific knowledge about Qualified Tuition Plans with special emphasis on 529 Plans, Coverdell Education Expense Accounts, UGMAs, and UTMAs, Roth IRAs, traditional IRAs, Student Financial Aid, and ‘Pay as They Go’ as they relate to education fund development and expense pay outs.
  • Clarify the differences between education savings alternatives
  • Provide a basis for analysis for education expense needs.
  • Examine approaches for determining a plan for saving to meet educational accumulation goals.

Exam Details

Need Proctor?No
Question Count:50
Passing Grade:70%
Attempts to Pass:Unlimited
Note: If you choose to request additional credit types while taking this course, the number of exam questions and proctor rules may change to meet those credits' requirements.

Course Details

Approved Title:College Education and Funding - Internet(7288)
Provider:InsuranceStudy.com
Provider Number:NYPO- 100425
Topics Covered:Financial Planning
Approved Credits
7 credits in Life Brokers
7 credits in Life/Accident and Health Agents
7 credits in Life Consultants
7 credits in Life Settlement Brokers
Program Level:Intermediate

Rules for New York Insurance Continuing Education

  • Courses approved for Internet may not be downloaded.
  • Exam is closed book. An New York state approved monitor MUST be present before you may access the exam. COVID-19 UPDATE: THIS RULE IS TEMPORARILY SUSPENDED.
  • Effective January 1, 2008, a licensee will no longer receive credit for any course previously completed for continuing education credit. Licensees must maintain records of completed continuing education courses and will be held responsible if a course is repeated.
  • Upon successful completion of this course you will be issued a Certificate of Course Completion. This document is necessary for your license renewal. Retain this document.

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