Well, let's not get carried away here. Its a great course to take but it's more focused on "this is the shifter, this is the kickstand, this is the start button" than counter steering and avoiding target fixation. I think the most the course taught me was how to stand-turn the bike and applying rear brake when doing low-speed stuff to stretch her out a little. The rest is basic knowledge, but still I would recommend it!
Not sure what course you did, but the standardized Gearing Up course includes a lot of practice on swerving, emergency braking, proper turning habits and traffic behaviour, maintaining control through emergency maneuvers, etc. It then tests you on it all before you can pass and get your M2 at the conclusion.
THIS is the important stuff, and yes, the stuff that could indeed save your life someday when your training kicks in automatically during an emergency.
As for the impact on ones insurance, yes not all insurers offer a discount but insurance companies that actually market or specialize to the MC segment (as opposed to it just being something they do out of courtesy for existing vehicle customers but they otherwise have no interest in it) typically do offer a discount, and as mentioned, increasingly many are requiring it.