LUTCF Course 1 case studies

LUTCF Course 1 · Put your knowledge to work in context.

LUTCF stands for Life Underwriter Training Council Fellow, a professional designation long associated with The American College of Financial Services. The College's site lists its professional designations and certifications, including the CLU®, ChFC®, RICP®, FSCP® and WMCP® programs, and describes itself as delivering applied financial knowledge since 1927. The LUTCF Course 1 case studies are 5 cases and about 5,139 words.

A Young Family's Gap: $1M of Term on the Higher Earner

Marcus, 34, and Priya, 32, have two children (ages 6 and 3) and combined income of 148,000 - Marcus earns 96,000 as a project engineer, Priya 52,000 as a part-time nurse. Their mortgage balance is 382,000 with 27 years remaining, they carry 14,000 of credit-card debt, and their emergency fund is 22,000.

939 words, about 5 min 2

The Owner Who Cannot Afford to Stop Working

Devon, 44, owns a 12-person landscaping company organized as an S corporation. He takes a 120,000 W-2 salary and reports about 95,000 of pass-through income on his K-1.

996 words, about 5 min 3

The 1035 Exchange at 72 and the RMD She Hasn't Planned For

Rosa, 72, is widowed and files single. She has 840,000 in a traditional IRA, 210,000 in a taxable brokerage account, and a nonqualified variable annuity purchased in 2011 with a 95,000 cost basis, now worth 158,000 and past its surrender-charge period, carrying a 1.1% mortality and expense fee.

1,011 words, about 5 min 4

The Power of Attorney, the Kitchen Table, and the Single Premium

Kendra has sold life and health insurance for 11 years and works mostly with small-business owners. Her largest client, Harold, 79, lost his wife eight months ago.

1,083 words, about 5 min 5

Three Owners, One Heart Attack, and an Unfunded Buy-Sell

Teresa (52), Owen (49), and Ray (61) own 40%, 35%, and 25% of an HVAC contracting LLC taxed as a partnership with 22 employees and 6.2 million of annual revenue. A recent valuation put the company at 4.6 million, making Ray's interest worth about 1.15 million.

1,110 words, about 6 min