CA Life & Health study guide
CA Life & Health · Work through your exam, one topic at a time.
The California Life & Health credential is a producer license issued by the California Department of Insurance (CDI) that authorizes the holder to transact life insurance, accident and health insurance, or both, depending on the license type applied for. Candidates typically pursue it to sell individual and group life policies, annuities, disability income, medical expense coverage, and senior-oriented products such as Medicare supplement and long-term care insurance. The CA Life & Health study guide has 5 sections and about 1,649 words.
01Insurance Law and Regulations: California Licensing, Producer Duties, and Ethics
California's insurance market is governed mainly by the Insurance Code, enforced by the elected Insurance Commissioner (four-year term) and the California Department of Insurance (CDI). The Commissioner issues, suspends, and revokes licenses, holds hearings, and imposes penalties for violations.
345 words, about 2 min02General Insurance Concepts: Risk, Insurable Interest, and Contract Principles
Risk is uncertainty about loss. Peril is the cause of loss (fire, death, illness).
324 words, about 2 min03Life Insurance: Policy Types, Provisions, Options, and Riders
The owner controls the policy (beneficiary, loans, surrender); the insured is the life measured; the beneficiary receives proceeds. Owner and insured may be different people.
333 words, about 2 min04Annuities: Accumulation, Annuitization, and Taxation
An annuity has an accumulation phase (premiums grow tax-deferred) and an annuitization phase (the contract pays a stream of income). Parties are the owner (controls the contract), the annuitant (whose life measures payout), and the beneficiary (receives any remaining value).
328 words, about 2 min05Health Insurance: Plan Types, Provisions, Disability, and Senior Coverage
Deductible (paid first by the insured), coinsurance (a percentage after the deductible), copay (flat dollar amount), and out-of-pocket maximum (once reached, covered in-network care is paid at 100%). Preventive care is typically covered with no cost sharing.
319 words, about 2 min