New mandatory Loan Protection training requirements
To align with industry best practices, and in anticipation of regulatory changes regarding the sale of complex insurance policies, Loan Protection training is becoming mandatory for all selling Financial Services Managers.
Annual mandatory course
Going forward, in order to sell Loan Protection in the HUB, you will need to complete the Loan Protection product knowledge course on an annual basis to ensure your understanding of the product, its eligibility requirements, and exclusions are maintained.
- If you completed the course before March 5, 2023: You will be re-enrolled in the course and will need to complete the training by November 5, 2023. You will then receive an annual notification from LGM Academy when it’s time for you to retake the course as a yearly product knowledge refresher.
- If you completed the course after March 5, 2023: You will receive a notification from LGM Academy when it is time for you to retake the course, and on an annual basis thereafter.
To access the course, log into the HUB and click on ‘LGM Academy’ from the menu on the left-hand side. Then, select the Loan Protection course located under the ‘My Courses’ heading. While you’re in LGM Academy, you can find a summary of all your completed courses, including the dates of completion, by clicking on the ‘Transcript’ tile.
About the Loan Protection course
The course is designed to equip you with comprehensive knowledge about the intricacies of Loan Protection, ensuring that you can confidently and accurately present the product based on your customers’ financial needs.
- Course duration: Approximately 45 minutes.
- Availability: The product knowledge course is available on-demand in LGM Academy so you can access and complete it at your convenience.
- Requirements: The product knowledge course is mandatory in order to sell Loan Protection in the HUB.
LGM support
Your dedicated LGM Dealer Development Manager is on hand to answer any questions you have. Please reach out to them directly with queries or if you need support.