AZ Life & Health study plan

Define the core risk-management vocabulary (peril, hazard, pure vs. speculative risk, insurable interest) and write a one-line definition for each term in your own words

Distinguish the major insurance company structures, distribution systems, and producer/agency authority types, then map each to a life or health example

Explain the elements of a valid contract as they apply to insurance policies, including offer, acceptance, consideration, and legal purpose

Diagram the life insurance underwriting flow from application through policy delivery, noting where representations, warranties, and disclosures appear

Compare term, whole life, universal life, and variable life products on premium, cash value, and death benefit behavior

Calculate net single premium concepts and explain mortality tables, reserves, and the level premium concept in plain language

Identify the parties, ownership rights, and beneficiary designations (primary, contingent, irrevocable, per stirpes/per capita) in sample policy scenarios

Trace how a death benefit claim is paid, including the free-look period, incontestability, and suicide clause timelines

Explain standard policy provisions and riders: waiver of premium, disability income, accelerated death benefit, long-term care, accidental death, and guaranteed insurability

Differentiate nonforfeiture options, dividend options, and policy loan and surrender mechanics

Describe how policies are replaced, modified, and reinstated, and identify the disclosures a producer must give

Apply taxation rules to life insurance proceeds: death benefit exclusions, cash value growth, policy loans, and MEC treatment

Classify health insurance policy types (indemnity, HMO, PPO, POS, HDHP) by network rules, cost sharing, and referral requirements

Define the health policy provisions mandated in individual and group contracts, including grace periods, reinstatement, and claims timelines

Explain coordination of benefits, preexisting condition treatment, and the underwriting and eligibility rules for individual versus group health coverage

Contrast disability income insurance definitions of disability, benefit periods, and elimination periods

Summarize Medicare Parts A-D, eligibility, enrollment periods, and the role of Medicare Supplement and Medicare Advantage plans

Describe Medicaid, CHIP, and the ACA marketplace structure, including subsidies, open enrollment, and guaranteed-issue rules

Explain group health concepts: contributory versus noncontributory plans, COBRA continuation, and HIPAA portability

Apply federal and Arizona rules on health insurance mandates, long-term care coverage, and worksite benefits to case-style questions

Distinguish fixed, indexed, and variable annuities by crediting method, risk allocation, and suitability requirements

Explain annuity accumulation and payout phases, including annuitization options and settlement choices

Compute and interpret surrender charges, free withdrawal amounts, and exclusion ratio taxation of annuity payments

Identify qualified versus nonqualified retirement plan features (IRA, Roth IRA, SEP, SIMPLE, 401(k), 403(b)) and their distribution rules

Memorize the Arizona insurance licensing requirements, including prelicensing education, exam, appointment, and continuing education hours and deadlines

State the producer responsibilities and prohibited acts under Arizona insurance law, including commingling, rebating, twisting, and misrepresentation

Explain Arizona rules on policy delivery, free-look and replacement notices, claim handling, and unfair trade practices

Describe Arizona-specific requirements for life and health marketing, including advertising, privacy, and fiduciary handling of premiums

Re-take one full-length timed practice exam under test conditions and review every missed item to its underlying rule

Rank all five domains by practice-exam score and re-drill the two weakest domains with targeted question sets

Rehearse the highest-frequency calculation types: annuity exclusion ratio, policy loans, disability benefit offsets, and surrender charges

Build a final one-page condensed review sheet covering Arizona law deadlines and the top provisions in each product domain