The LUTCF Program offers education to help insurance professionals get their
careers off to a productive start. The American College LUTCF Program focuses
on providing both the sales skills and working habits building necessary to
be successful.
The LUTCF Fellow (LUTCF) designation is conferred only upon those individuals
who meet or exceed the qualification standards determined by the joint sponsors
of the designation-The American College and the Life Underwriters Association
of Hong Kong (LUAHK). The LUTCF designation represents accomplishment and professionalism,
helping you to establish strong and lasting client relationships.
The Uniqueness of LUTCF Program
Effective Skill-builder
Using trained moderators in a specified classroom setting, LUTCF classes offer
a unique and productive educational experience. Students take part in skill-building
exercises and sharing of sales experience, the synergism of which effectively
build up selling techniques for them.
Uplift of Production
The stress on sales planning projects and action projects help students to apply
their knowledge, thus enhance their sales. Working habits are reinforced through
completing the projects. Survey has shown that participation in LUTCF Program
helps agents to uplift their production by 20% in average.
Professional Designation
The LUTCF designation signifies the milestone of insurance and financial planning
practitioners' career. Over 65,000 practitioners all over the world have earned
this designation.
Accredited CPD Program in HK
Upon successfully completed and passed one LUTCF module will satisfy the total
CPD hours requirement for the year of attendance.
Exemption
Candidates who have completed and passed some designated LUTCF modules may apply
for exemption from related modules of Chartered Financial Practitioners programme
(FChFP) and Financial Services Specialist program (FSS).
How to Earn your LUTCF
A Certificate of Completion will be issued to students who have completed
and passed the examinations of the Personal Insurance I and II ─ "Exploring
Personal Markets" and "Techniques for Meeting Client Needs".
Students study every LUTCF subject (except Ethics for the Financial Services
Professional) will earn 60 LUTCF designation credits (DCs) upon successful
completion and passed the examination. A total of 300 designation credits
(DCs) is needed to qualify for the LUTCF designation. (Students have to complete
ALL core subjects.)
60 DCs of the elective credits required to earn the designation may be attained
by the transfer of credits of the CLU, ChFC, CLF, CPCU, CFPR (US) or FIC designation.
(1 elective subject could be exempted.)
Students must be paid members in good standing of the LUAHK in the year
of conferment, and must complete and submit an LUTCF application to The American
College through the LUAHK.
NON-DUPLICATION OF DESIGNATION CREDIT POLICY: While LUTCF courses successfully
completed at any time in the past count toward the LUTCF, candidates cannot
receive duplicate DCs for the same course (OR ITS REPLACEMENT).
Passing Requirements
All LUTCF courses consist of 9 sessions.
Attendance: No more than 2 absence for all subjects; and
Final Examination: Each subject has a final examination. Students must earn
a score of 70% or more; and
Term Grade: students must earn a Term Grade of at least 70%. The Term Grade
is the average of the Final Examination score and the Moderator's Grade.
The Moderator's Grade is the average of the grades for Class Participation,
Questionnaires, Sales Planning Projects and Action Projects.
Students with more than 2 absence or the Moderator's Grade below 40% are
not allowed to sit for examination and have to re-enroll the course in future.
Important Notes
In accordance with LUTCF guidelines, any attempt to recruit personnel is
prohibited in all LUTCF functions.
De-enrolment:
100% refund can be applied with completed de-enrolment form submitted
at least 7 days before the commencement of the course
40% refund can be applied with completed de-enrolment form submitted
at least 3 days before the second lesson.
By MAIL/HAND: to LUAHK Office (fax copies will not
be entertained)
Personal Data Collection Statement: The information provided would be used
by the LUAHK for purposes relating to the enrolment
Personal Insurance I ─ Techniques for Exploring Personal Markets (EPM)
Prerequisite: At least 6 months full time life insurance experience
Course Description
This course focuses on marketing to support an overall client-focused selling
strategy that builds long-term, mutually beneficial relationships with clients.
It teaches the newer agents how to develop basic marketing strategies for prospecting,
target marketing, approaching prospects, and providing service within the personal
insurance.
Highlights:
Presents basic planning concepts, and needs applicable to the personal insurance
market
Covers the process of prospecting, with an emphasis on referrals
Discusses the concept of "life-cycle segmentation" for prospecting
Note: - After finished EPM, candidates must study MCN before taking other
modules - Study materials will be provided in both English & Chinese
Personal Insurance II ─ Techniques for Meeting Client Needs (MCN)
Prerequisite: Completion of Personal Insurance Part I (EPM)
Course Description
The course themes include total-needs selling, the consultative selling process,
and the needs for personal life insurance. The course presents a discussion
of skills used throughout the sales/planning process.
Highlights:
Focuses on effective communication skills for use throughout the sales/planning
process
Emphasizes the importance of relationship building skills as the basis of
sales success
Note: - Study materials will be provided in both English & Chinese
Ethics for the Financial Services Professional (ES)
Prerequisite: At least 6 months full time life insurance experience
Course Description (Replacement of Piecing together the Ethical Puzzle)
This course provides a practical, thought-provoking, and challenging presentation
on ethical values in the decision-making processes of professionals in the financial
services industry. The course goes beyond theoretical concepts by presenting
a practical framework for making ethical business decisions; examining legal,
compliance, and practice standards; and discussing ethical approaches to placing
financial products, determining suitability, and assessing risk.
Highlights:
Provides a framework for ethical decision making, including ethical sensitivity
exercises and decision processes
Discusses HK legislation, compliance limitations, the increasing emphasis
on professionalism and ethics codes, and practice standards
Explores the ethics of specific professional practices including unnecessary
replacements, misleading sales practices, suitability requirements, and rebating,
along with a discussion regarding conflicts of interest
Examines the LUAHK's Rules of Conduct and Fair Dealing with Customers
Discusses the scope of responsibilities assumed by SFC Licensed Representative
Note: - Study materials will be provided in both English & Chinese
LUTCF Curriculum & Values to LUTCF Students
Prerequisites of Elective Courses
1) Completion of Personal Insurance Part I & II / Completion of LUATC Personal
Insurance & Mini Course, or
2) with 36 months full time life insurance experience
Essentials of Business Insurance (BI)
Course Description (Replacement of Business Continuity)
This course examines how the business owner can use life insurance to continue
a business beyond his or her death or the death of another key person. It also
explores what to say, how to say it, and when to say it to capture the attention
of the business owner. The course suggests effective words to use, sample letters
and fact-finding forms, and presenting and closing techniques. The course covers
how life and disability income insurance can guarantee the control and value
of a business following the owner's or key person's death or disability through
buy-sell agreements and key person insurance. The course also explores the basics
of estate planning for the business owner.
Highlights:
Reviews the problems and solutions to those problems that result from the
death or disability of a business owner or key employee for the business and
its dependents
Explores succession planning, with emphasis on buy-sell agreements funded
with insurance
Examines ways a business owner can retain and continue the value of the
business in the case of death, disability, or retirement from the business
Discusses the various organizational forms under which business owners operate
Presents the basics of estate planning for the business owner
Note: - Study materials will be provided in both English & Chinese
Foundations of Estate Planning (EP)
Course Description
This course offers agents an introduction to estate planning and the role life
insurance plays in the planning process. Foundations of Estate Planning provides
practical information for entering this market, including how property is transferred
when a person dies and the tax implications of not planning.
Highlights:
Outlines the steps required to settle an estate.
Emphasizes the importance of having a will, and discusses issues of special
interest and concern for survivors. Identifies different kinds of trusts and
how they can be used to meet estate planning
Note: - Study materials will be provided in both English & Chinese
Professional Growth (PG)
Course Description
This course focuses on how practitioners can work efficiently and effectively
through self-evaluation, time management and target marketing.
Highlights:
Self-Evaluation -helps practitioners evaluate themselves by re-examining
their objectives and ways of conducting business
Product and Application - focuses on product knowledge and the pragmatic
application of such to selling
Target Marketing - gives in-depth instructions of how to conduct target
marketing
Note: - Study materials will be provided in both English & Chinese
Retirement Planning (RP)
Course Description
This course provides an overview of how changing demographics are creating increased
numbers of prospects for retirement planning.
Highlights:
Addresses ways to accumulate money for retirement, to fund an education,
to satisfy long-term needs, and more
Discusses the role of Social Security and tax policies in retirement planning
Explores the suitability of accumulation vehicles, including stocks, bonds,
mutual funds, life insurance, and annuities
Note: - Study materials will be provided in both English & Chinese
