LLQP study plan

Map the life insurance domain into a one-page outline covering contract elements, beneficiaries, and policy types before studying details

Define and distinguish term, whole life, universal, and joint life policies in your own words without notes

Explain the roles of owner, insured, beneficiary, and irrevocable beneficiary, and predict who receives proceeds in three short scenarios

Build a personal glossary of 25 life insurance terms with a one-line definition each

Work through the application process end to end: disclosure, underwriting, policy delivery, and the free-look period

Explain incontestability, misrepresentation, and suicide clauses and apply each to a written case

Calculate simple beneficiary payout splits and identify when proceeds bypass the estate

List the main rider types and state the problem each rider solves

Explain cash value, policy loans, surrender, and non-forfeiture options for permanent coverage

Compare dividend options and policy replacement rules, and note the disclosure duties involved

Summarize taxation of life insurance proceeds, including when proceeds become taxable

Draft a comparison table of four policy types across cost, duration, cash value, and use case

Define the accident and sickness domain boundaries: what qualifies as accident, sickness, and disability

Explain elimination periods, benefit periods, waiting periods, and how they interact in a claim

Distinguish own-occupation from any-occupation definitions and predict claim outcomes in three scenarios

Identify common exclusions and the reasoning behind each

Compare individual and group disability coverage on underwriting, portability, and cost

Explain coordination of benefits and calculate a sample top-up when other coverage exists

Describe critical illness and long-term care coverage and how they differ from disability income

Outline the claims process, including proof of claim, insurer timelines, and appeal routes

Distinguish segregated fund contracts from mutual funds on guarantees, creditor protection, and estate treatment

Explain maturity and death benefit guarantees, reset options, and how fees affect net return

Compare annuities by payout timing and structure, and identify who each suits

Describe the role of the insurer versus the distributor in a segregated fund contract

Apply the core duties of an insurance agent to three written dilemmas and justify each decision

Explain conflicts of interest, disclosure of compensation, and suitability obligations in practical terms

Identify privacy and documentation standards expected when handling client information

Describe the complaint and discipline process and the consequences of misconduct

Run a timed mixed mock exam across all four domains and log every wrong answer by domain and cause

Re-study only the weakest three sub-topics identified in the mock, using targeted notes

Rehearse the highest-risk calculations: beneficiary splits, coordination of benefits, and annuity payouts

Build a one-page final review sheet summarizing formulas, definitions, and ethics duties