In order to give its members who hold a licence in insurance of persons or in group insurance the opportunity to gain greater expertise in their area of practice, the Chambre de la sécurité financière exclusively confers two professional titles: chartered life underwriter (C.L.U.) and registered life underwriter (R.L.U.). These titles guarantee a member’s expertise and reputation and can be earned only after completing a highly demanding learning program.
The program leading to the title of registered life underwriter (R.L.U.) consists of eight university courses totalling 24 credits as well as the ten training activities in the Les concepts en assurance de personnes (program developed by the CSF and only available in French).
The program leading to the title of chartered life underwriter (C.L.U.) consists of sixteen university courses totalling 48 credits as well as the ten training activities in the Les concepts en assurance de personnes (program developed by the CSF and only available in French).
* One PDU represents one hour of training. Given that a three-credit university course represents 45 hours of in-class learning and 45 hours of homework, the CSF grants 90 PDUs for a three-credit university course.
The university training leading to the titles of C.L.U. and R.L.U. promotes the development of knowledge about estate and tax planning as well as insurance and financial products for individuals and businesses, and provides more in-depth knowledge about disability and critical illnesses insurance, group insurance and investments.
The program Les concepts en assurance de personnes was designed to hone the knowledge of financial security advisers regarding the various products available on the market and to develop their ability to identify and analyze financial needs so they can make recommendations that best suit their clients’ requirements.
The following tables indicate, for each professional title, the subjects that must be covered over the course of the university program.
Course titles may vary from one university to another. It is therefore important, when selecting courses, to ensure their content matches the contents described in the tables below.
REGISTERED LIFE UNDERWRITER (R.L.U.) AND CHARTERED LIFE UNDERWRITER (C.L.U.)
|Accounting||Basic principles of financial statements. Analysis and interpretation of financial statements. Accounting transactions. Budgetary income.|
|Legal aspects||Study of the legal principles regarding the different forms of businesses, marriage, matrimonial regimes, the law of wills and estates, trusts, mandates given in anticipation of incapacity..|
|Economics||Introduction to economic analysis. Supply and demand. Market structures. Income and consumption. Investments. Inflation.|
|Financial management||Mathematics and financial management. Financial analysis and forecasting. Investments and cost of capital.|
|Taxation of individuals||Taxation of individuals. Calculation and taxation of income and capital gains. Governmental plans and deferred plans.|
|Taxation of corporations||Taxation of corporations. Taxation of income. Rules applicable upon death. Taxation of trusts.|
|Insurance and annuities||Understanding the principles of risk management. Understanding annuities and life insurance, accident and health insurance and property insurance products.|
|Investment funds and financial products||Overview of the investment sector (products and markets), with an emphasis on investment funds and how to evaluate client objectives.|
CHARTERED LIFE UNDERWRITER (C.L.U.) ONLY (CONTINUED)
|Retirement and estate planning||Élaborer un plan de retraite répondant aux besoins du client. Les régimes de pension et de retraite. Les rentes. Les transferts du patrimoine avant et après le décès (individu et société).|
|Client solicitation strategy||Knowledge of market concepts, market segmentation, market opportunity. Marketing strategy.|
|Financial planning for individuals||Needs analysis. Balance sheet. Client objectives. Tax considerations. Investment methods and strategies.|
|Managing a financial services firm||Knowledge of mission and objectives. Preparing a plan of operation. Distribution and quality of services offered.|
|Insurance law||Formation and performance of insurance contracts: effective date of insurance, cover note, policy substitution, insurable interest, misrepresentation and concealment, designation of beneficiary, transfer, reinstatement and unseizability of contracts.|
|Estate planning (advanced)||Practical analysis of various aspects of estate planning: shareholders’ agreements, estate planning for individuals, succession planning, post-mortem planning.|
|Retirement planning (advanced)||Practical analysis of various aspects of retirement planning: advanced capital accumulation strategies, advanced capital utilization strategies, evaluation of early retirement offers.|
|One course from among the following:|
|Types of financial products II||Applying theoretical concepts in order to make appropriate recommendations, specifically for asset allocation and portfolio planning.|
|Group insurance||Preparing a group insurance recommendation. Knowing the various group insurance products and their characteristics. Ratemaking. Administration of plans. Claims experience reports. Tax and legal considerations.|
|Disability||Improving knowledge of group insurance. Products, disability endorsements and options, tax and legal considerations, processing of claims.|
Registration for university courses
Registration for University courses must be done directly with the institution of your choice.
The admission requirements, registration procedures and availability of these courses are determined by the institution offering this programme.
Generally, the candidates must hold a diploma in collegial studies (D.E.C) and have relevant experience.
Conditions for Obtaining a Professional Title
To apply for a professional title, a candidate must hold a licence in insurance of persons or in group insurance of persons.
Applying for a professional title
- Application form for the professional title of R.L.U. (only available in French)
- Application form for the professional title of C.L.U. (only available in French)
- Fee payment form (only available in French) must be attached to the application form
Evaluation of Your Academic Record and Recognition of University Equivalence
If you have already taken several of these courses and would like your academic record to be evaluated in order to know which courses will be recognized and which ones you will have to take, please send your course transcript to the departement of professional development and quality of pratices as indicated below.
For more information, please contact the departement of professional development and quality of pratices at 514-282-5777 option 9 - option 1 and option 4, or toll-free at 1-800-361-9989.