LOMA 291 case studies
LOMA 291 · Put your knowledge to work in context.
LOMA 291 is the exam most candidates meet at the start of the FLMI journey: LOMA's site lists "FLMI Level 1 Certificate in Insurance Fundamentals" among its Essential Knowledge offerings, and the Level 1 credential is the entry point to the broader Fellow, Life Management Institute (FLMI) designation path. It suits new hires in insurance operations, claims, underwriting support, customer service and distribution who need a working vocabulary of the business before specializing, and it is also used by career-changers entering life insurance and related financial services. The LOMA 291 case studies are 5 cases and about 3,585 words.
1Two Applications, One Signature: Testing Insurable Interest
Dana Ruiz owns 60% of Northline Textiles LLC and her partner Marcus Webb owns 40%. A draft buy-sell agreement calls for each owner to buy the other's interest at death, and Dana applies for a 750,000 individual life policy on Marcus, naming herself owner and beneficiary.
553 words, about 3 min2Convert or Reapply: A Rated Applicant With a Closing Window
Jerome Okafor is 47, divorced, and the sole support of two children, ages 12 and 15. His mortgage balance is 420,000 with 18 years remaining, and his employer provides group term life equal to twice his 75,000 salary.
811 words, about 4 min3Twenty-Two Months: The Suicide Clause Meets Incontestability
Priya Nair's 500,000 whole life policy was issued on March 3, 2023, with an annual premium of 4,100 and her adult son Dev as beneficiary. The application asked whether she had been treated for depression or anxiety or taken prescription medication in the past five years; she answered no.
690 words, about 3 min4The Agent, the Gift Card, and Three Annuity Replacements
During a routine file review, compliance at Amity Life finds that agent Luis Moreno replaced three fixed deferred annuities with a new indexed annuity over six weeks. The clients are 68, 74, and 79.
758 words, about 4 min5Ten Days or Bust: Redesigning the Death Claim Experience
Ridgeline Life pays about 12,400 death claims a year. Average time from first notice to payment is 21 days, and 15% of claims take more than 45 days.
773 words, about 4 min