LLQP Life study plan

Define risk pooling, insurable interest, and the three main life insurance product families, and match each family to a stated client need.

Compare term, whole life, and universal life on cost structure, cash value accumulation, and duration of coverage in a written table.

Explain how underwriting classifications (age, sex, health, smoking status, avocation) shift a premium rating.

Complete a closed-book 40-question quiz on life insurance fundamentals and log every miss with the reason.

Apply incontestability, grace period, reinstatement, and misstatement-of-age provisions to short written fact patterns.

Distinguish revocable from irrevocable beneficiary designations and state how each limits the policyowner's rights.

Explain the tax treatment of the death benefit, cash surrender, policy loans, and transfers of ownership.

Work three policy scenarios to identify the correct beneficiary payout and any taxable amount.

Score at least 75% on a 50-question domain 1 quiz.

Distinguish disability income, critical illness, long-term care, and accidental death and dismemberment coverages by what each pays and when.

Contrast own-occupation with any-occupation definitions of disability and explain how the choice changes claim outcomes.

Identify the standard exclusions, limitations, and pre-existing condition clauses in accident and sickness contracts.

Calculate a monthly disability benefit given the monthly benefit amount, elimination period, benefit period, and an income offset.

Build a glossary of 20 accident and sickness terms written in your own words.

Explain how individual disability coverage coordinates with group coverage and government benefits such as CPP disability and workers' compensation.

Outline the accident and sickness underwriting and claims process from application through benefit payment.

Re-teach yourself your five weakest topics from weeks 1 to 3 using only your own notes.

Score at least 75% on a timed 60-question mixed quiz covering domains 1 and 2.

Explain segregated fund maturity and death guarantees, including reset options, and contrast them with mutual fund features.

Classify annuity types (term certain, life, joint and last survivor, indexed, variable) and match each to a client objective.

Distinguish the accumulation phase from the payout phase and describe the available payout options.

Explain how registered versus non-registered annuities are taxed and where seg funds sit in registered plans.

Draft two suitability rationales for seg funds versus annuities using stated client facts.

Compute the effect of a market decline on a segregated fund death benefit guarantee in two worked examples.

Evaluate when annuitization beats holding a payout vehicle such as a RRIF, and justify the recommendation in writing.

Explain seg fund contract provisions covering beneficiary designation, probate, and creditor protection.

Identify the regulatory bodies that license and oversee life insurance agents in Canada and describe the licensing framework.

Score at least 75% on a 40-question domain 3 quiz.

Apply know-your-client, know-your-product, and suitability standards to four written conduct scenarios.

Identify conflicts of interest and the disclosure steps required before and after a transaction.

Describe complaint handling, privacy obligations, and anti-money-laundering and terrorist-financing reporting duties.

Distinguish market conduct rules from tax rules when advising on a transaction.

Score at least 80% on a 30-question ethics and professional practice quiz.

Complete two full-length timed mock exams under exam conditions and score at least 75% on each.

Categorize every missed mock question by domain and re-study the two domains with the highest miss rate.

Recite from memory 25 core definitions spanning all four domains without notes.

Build a single-page formula and rules sheet from recall only.

Confirm final logistics: exam format, permitted materials, and timing strategy.