LLQP Accident & Sickness study guide
LLQP Accident & Sickness · Work through your exam, one topic at a time.
The Accident & Sickness qualification within Canada's Life Licence Qualification Program (LLQP) is the credential that allows a licensed life insurance agent to also sell and service health-related coverage: disability income, critical illness, long-term care, individual and group health plans, and supplementary accident benefits. It is aimed at people entering or expanding a career in insurance sales and advice - new agents completing their initial licensing, life agents adding a health line, and group benefits or employee-benefits staff who need the regulatory credential. The LLQP Accident & Sickness study guide has 9 sections and about 2,106 words.
01Accident & Sickness Insurance Fundamentals and Regulation
Accident and sickness (A&S) insurance pays benefits triggered by an accident or illness rather than by death. Candidates must distinguish indemnity coverage (reimburses actual loss up to the limit) from valued/benefit coverage (pays a fixed sum regardless of actual loss), and know the standard benefit triggers: accident, sickness, disability, and medical expense.
318 words, about 2 min02Individual Accident & Sickness Insurance Products
Individual A&S products include disability income , accident-only , critical illness , long-term care , and medical expense plans. Candidates must understand the building blocks: benefit amount , benefit period , elimination/waiting period , renewability , and exclusions .
272 words, about 1 min03Group Accident & Sickness Insurance
Group A&S covers a defined group under a master policy , with individuals receiving certificates of insurance . Key features: eligibility (who can join), enrollment periods , actively-at-work requirements, contributory vs.
236 words, about 1 min04Disability Income Insurance
Disability income replaces a portion of earned income when the insured cannot work. Candidates must know own-occupation vs.
246 words, about 1 min05Critical Illness Insurance
Critical illness (CI) insurance pays a lump sum on first diagnosis of a covered condition, subject to a survival period (often 30 days). Covered conditions typically include cancer, heart attack, and stroke, plus others.
241 words, about 1 min06Long-Term Care and Other Health Insurance
Long-term care (LTC) insurance pays for custodial care when the insured cannot perform activities of daily living (ADLs) - bathing, dressing, eating, toileting, transferring, continence - or has cognitive impairment. Candidates must know ADL triggers , elimination period , benefit amount , inflation protection , and reimbursement vs.
225 words, about 1 min07Health Insurance Policy Provisions and Contract Law
A&S policies contain standard provisions: entire contract , incontestability , grace period , reinstatement , notice of claim , proof of loss , time of payment , physical examination , legal action , and change of occupation . Candidates must understand utmost good faith , insurable interest , representations vs.
205 words, about 1 min08Underwriting, Claims, and Premiums
Underwriting assesses risk using medical history , occupation , avocation , age , and lifestyle . Outcomes include standard , substandard (rated) , exclusion rider , or decline .
183 words, under 1 min09Ethics, Suitability, and Consumer Protection
Agents must act with integrity , competence , and fair dealing . Suitability requires matching products to client needs, income, and objectives.
180 words, under 1 min