IN Life & Health case studies
IN Life & Health · Put your knowledge to work in context.
The Indiana Life & Health Insurance Producer License is the credential the Indiana Department of Insurance (IDOI) issues to individuals who want to sell life insurance and health insurance products in Indiana. It is intended for new entrants to the insurance business as well as for currently licensed producers adding a line of authority. The IN Life & Health case studies are 5 cases and about 1,754 words.
1Misstated Age, Suicide Clause, and a Third-Year Death
In March 2018, Dana applied for a 500,000 20-year term policy and listed her birth year as 1970. The policy was issued at a standard rate of 1,200 per year.
331 words, about 2 min2Annuity Withdrawal, Surrender Charges, and a Bonus Exchange
Ruth, age 68, owns a nonqualified fixed deferred annuity with an account value of 300,000 and a cost basis of 200,000. Her contract allows a 10% free withdrawal each year; the surrender charge is 7% in contract year one and declines by 1% per year, so she is now in year three with a 5% charge.
358 words, about 2 min3Own-Occupation Dentist With Residual Disability
Patel, age 45, earns 20,000 per month as a dentist. He owns an individual disability income policy with a 10,000 monthly benefit, a 90-day elimination period, a five-year benefit period, and an own-occupation definition.
343 words, about 2 min4Coordination of Benefits for a Child's Surgery
Maya and Jon both have employer-sponsored medical plans and cover their 12-year-old daughter under both. Maya's birthday is March 14; Jon's is July 9.
343 words, about 2 min5LTC Benefit Triggers and the Elimination Period
Evelyn, age 72, owns a tax-qualified long-term care policy with a 150 daily reimbursement benefit, a 90-day elimination period, a three-year benefit period, and 3% compound inflation protection. Home care is covered at 50% of the daily nursing-home benefit.
379 words, about 2 min