Life & Health study plan

Define risk, peril, hazard, and the characteristics of insurable risk in your own words

Distinguish stock from mutual insurers and participating from nonparticipating policies

Explain the three premium rate components (mortality, interest, expense) and how each drives cost

Outline the underwriting path from application through policy delivery, including the roles of the MIB and attending physician statements

Diagram applicant, owner, insured, and beneficiary relationships in three different policy scenarios

Compare term, whole life, universal life, and variable life on premium structure, cash value behavior, and death benefit guarantees

Calculate the effect of a partial withdrawal on a universal life policy's death benefit and cash value under both death benefit options

Differentiate joint life, survivorship, and endowment contracts by their payout trigger

Explain how variable products shift investment risk to the policyowner and what that means for producer licensing

Match each of six stated client needs to the most suitable contract type

Sequence the standard policy provisions (grace period, reinstatement, incontestability, misstatement of age) and state each time limit

Apply all three nonforfeiture options to a lapsed policy using a given cash value figure

Demonstrate how dividend options, policy loans, and automatic premium loans change cash value and death benefit

Evaluate when each rider (waiver of premium, disability income, accidental death, guaranteed insurability, term, long-term care) is appropriate

Explain the owner's rights of assignment, surrender, and beneficiary designation and change

Classify ancillary coverages (dental, vision, critical illness, accident, hospital indemnity) by what they pay and when they pay

Explain coordination of benefits and determine payment order between primary and secondary payers

Distinguish Medicare supplement plans from Medicare Advantage and state what Medigap excludes

Describe how worksite and specified-disease policies complement major medical coverage

Identify the tax treatment of benefits paid under accident, critical illness, and disability policies

Compare HMO, PPO, POS, and EPO models on networks, referrals, and cost sharing

Trace the eligibility, contribution, and distribution rules of a health savings account paired with a qualifying high-deductible plan

Summarize Medicare Parts A through D by eligibility, enrollment periods, and coverage gaps

Explain Medicaid eligibility and identify what it covers that Medicare does not

Define deductible, coinsurance, copay, and out-of-pocket maximum using one worked claim

Match each health policy provision (entire contract, time limit on certain defenses, grace period, reinstatement, claim forms, legal actions) to its purpose and time frame

Identify the required uniform policy provisions in health contracts and state whom each protects

Calculate a disability income benefit from a given elimination period, benefit period, and disability definition

Explain how residual, partial, and recurrent disability benefits are triggered and paid

Distinguish skilled, intermediate, and custodial care and list long-term care benefit triggers

Contrast immediate, deferred, fixed, variable, and indexed annuities by payout start, funding method, and risk bearer

Distinguish the accumulation, annuitization, and payout phases and apply the exclusion ratio concept to a payment stream

Apply taxation rules for annuity withdrawals, lump-sum distributions, and the early withdrawal penalty

State the income tax treatment of death benefits, cash value growth, dividends, and policy loans

Explain modified endowment contract status and its consequences for the policyowner

Explain the state's role in insurer licensing, producer licensing, and market conduct examinations

Distinguish the Commissioner's enforcement powers from federal oversight of insurance

Apply producer duties involving fiduciary premium handling, disclosure, replacement, and reporting of unethical conduct

Complete two timed 100-question practice exams and log every missed item by domain

Re-drill the two lowest-scoring domains until each reaches 85%