LLQP case studies
LLQP · Put your knowledge to work in context.
The Life Licence Qualification Program (LLQP) is the entry-level qualification pathway for people who want to be licensed as life insurance agents in Canada. It is aimed at new entrants to the industry - career changers, recent graduates, and sales staff moving into insurance - who need to demonstrate the knowledge and conduct standards expected of insurance intermediaries before they can be licensed by a provincial or territorial regulator. The program is structured around four subject areas: life insurance, accident and sickness insurance, segregated funds and annuities, and ethics and professional practice. Each area tests both product knowledge (contract provisions, underwriting, beneficiary designations, policy taxation, disability and critical illness coverage, annuity mechanics, segregated fund guarantees) and the regulatory and ethical framework within which intermediaries operate. The LLQP case studies are 5 cases and about 4,899 words.
1The Stress Test Amara Didn't Mention
Amara, 44, is a hospital administrator earning 92,000. She has a 420,000 mortgage, two children aged 9 and 12, and only 50,000 of basic group life through work.
884 words, about 4 min2Surrender, Loan, or Reduced Paid-Up
Robert, 58, owns 100% of a hardware store. In 2009 he bought a 500,000 participating whole life policy on himself.
921 words, about 5 min3The Dental Hygienist's Wrists
Nadia, 38, is a dental hygienist earning 78,000 ( 6,500 a month). Her employer provides group long-term disability: 60% of pre-disability earnings, a 119-day elimination period, and a switch to "any occupation" after 24 months.
1,042 words, about 5 min4Louise's Guarantee That Isn't a Guarantee of Everything
Louise, 68, is widowed and in good health. She has 450,000 in a non-registered GIC maturing next month, a 220,000 RRIF from which she takes only the minimum, and a mortgage-free house.
979 words, about 5 min5The Power of Attorney, the Backdated Rate, and the Referral Fee
Priya has serviced Daniel's $250,000 whole life policy for eleven years. Daniel is 79 and has recently moved into assisted living after a diagnosis of early-stage dementia.
1,073 words, about 5 min