Life Insurance Applications (LIA) case studies
Life Insurance Applications (LIA) · Put your knowledge to work in context.
LIA is listed here as an exam name with the aliases "LIA" and "LOMA 307 Life Insurance Applications", and its five domains are treated as equally weighted at 20% each. That split is an estimate, not an official weighting, because no authoritative source page was available at retrieval time: the LOMA 307 course URL returned a 404 error, and the LOMA home page contains general organizational content rather than exam specifications. The Life Insurance Applications (LIA) case studies are 5 cases and about 2,478 words.
1The Convertible Term Dilemma at Age 58
Diane, age 58, bought a 20-year level term policy 14 years ago with a 500,000 death benefit and a renewable-and-convertible rider. Her term premium is 640 annually.
489 words, about 2 min2The Contested Beneficiary Designation
Robert died in March. His $300,000 whole life policy named "my spouse, Ellen, if living, otherwise my children equally." Robert and Ellen divorced in 2019, and he remarried Nadia in 2021.
528 words, about 3 min3Underwriting a High-Risk Applicant Without Violating the Law
Marcus, age 47, applies for $750,000 of 20-year term. On the application he discloses a treated hepatitis C infection from 2015 with sustained viral response, a body mass index of 34, and a father who died of colon cancer at 52.
481 words, about 2 min4Vanishing Premium That Never Vanished
In 2003, Priya bought a 250,000 participating whole life policy with an annual premium of 3,100. Her agent's illustration showed that, after 10 years, dividends would be large enough to pay the premiums - a "vanishing premium" plan - assuming a 7.5% dividend interest rate.
478 words, about 2 min5Delivery, Replacement, and the Free-Look Clock
On June 3, Ken applied for a 400,000 term policy and paid the first premium with the application. The policy was approved on June 20 and mailed to the agent on June 24.
502 words, about 3 min