KY Life & Health case studies
KY Life & Health · Put your knowledge to work in context.
The Kentucky Life & Health producer license authorizes an individual to solicit, negotiate, and sell life insurance and accident and health insurance products in Kentucky. It is typically pursued by people entering insurance sales - agency producers, captive and independent agents, and customer-facing staff at agencies and carriers - and it is a prerequisite for being paid commissions on those lines of business. The KY Life & Health case studies are 5 cases and about 3,061 words.
1Margaret's Replacement: Surrendering a Loan-Laden Whole Life Policy
Margaret, 62, owns a 150,000 whole life policy issued in 2009. It now has a 52,000 cash value, a 38,000 policy loan taken in 2019, and 54,000 of premiums paid over the years.
652 words, about 3 min2Robert's Claim: Misstated Age, Grace Period, and an Accidental Death Rider
Robert applied for a 200,000 whole life policy with a 200,000 accidental death benefit rider. On the application he gave a birth date that made him 47; his Social Security record shows he was actually 51.
583 words, about 3 min3Harold's Annuity: Withdrawals, a 1035 Exchange, and the Heirs' Tax Bill
Harold, 70, owns a nonqualified deferred annuity worth 300,000 with a 180,000 cost basis. Aside from Social Security he has no pension income, and he needs 40,000 a year for five years to cover a grandson's tuition.
594 words, about 3 min4Dr. Patel's Hand Injury: Elimination Period, Residual Benefit, and the Five-Year Clock
Patel, a 48-year-old dentist, owns an individual disability policy with an 8,000 monthly benefit, a 90-day elimination period, and a five-year own-occupation period that then converts to any-occupation. Her practice nets 20,000 a month.
627 words, about 3 min5Eleanor's Home Care: Daily Benefit, Benefit Pool, and the 90-Day Wait
Eleanor, 76, bought a tax-qualified long-term care policy twelve years ago. It now pays 160 a day for nursing facility care, has a 90-day elimination period counted in calendar days, a three-year benefit period, and 5% compound inflation protection.
605 words, about 3 min