MN Life & Health study plan

Define the parties to a life insurance contract, ownership rights, and insurable interest, and state how each affects policy validity

Differentiate term, whole life, universal life, and variable life by premium structure, cash value mechanics, and death benefit behavior

Compute the net death benefit payable in three scenarios involving outstanding policy loans or unpaid premiums

Build a one-page comparison grid covering eight life policy types across premium, cash value, and death benefit columns

Explain the operation of the grace period, reinstatement, incontestability, and misstatement-of-age provisions

Match ten common riders (waiver of premium, accidental death, guaranteed insurability, term, long-term care, chronic illness, return of premium, and others) to the specific risk each transfers

Distinguish nonforfeiture options, dividend options, and settlement options, then select the correct option for four client fact patterns

Identify how primary, contingent, irrevocable, and per stirpes beneficiary designations change who receives the proceeds

Contrast immediate with deferred annuities and fixed with variable annuities by payout start date and by who bears investment risk

Sequence the accumulation, annuitization, and payout phases and state the tax treatment that applies at each phase

Distinguish qualified from nonqualified annuities and identify when the early-withdrawal penalty applies

Evaluate time horizon, liquidity needs, and surrender charges for three hypothetical annuity prospects and recommend or reject the sale

Classify the major medical expense coverages (individual, group, indemnity, HMO, PPO, critical illness, dental/vision) by cost-sharing structure

Define deductible, coinsurance, copayment, out-of-pocket maximum, and usual-reasonable-customary, then compute patient cost in three claim examples

Explain coordination of benefits and determine payer order in three dual-coverage situations

Summarize how portability and continuation rules affect a covered person who changes or loses employment

Differentiate own-occupation from any-occupation disability definitions and predict how each changes claim outcomes in two scenarios

Interpret elimination periods, benefit periods, residual benefits, and the noncancelable and guaranteed renewable provisions

Compute a monthly disability benefit from a given income, benefit percentage, and elimination period

Explain the benefit triggers, facility versus home care settings, and partnership program purpose in long-term care policies

Identify the mandatory and optional health policy provisions, including free look, entire contract, proof of loss, legal actions, and change of occupation

Distinguish HMO, PPO, POS, and EPO models by network rules, gatekeeping, and referral requirements

Explain utilization review, preauthorization, and the sequence of a claim denial and internal appeal

Draft the questions you would ask a client to determine whether a plan's network and referral rules fit their needs

Recite Minnesota producer licensing requirements as stated in your state-law outline: prelicensing education, examination, appointment, and renewal cycle

Outline Minnesota continuing education requirements, including ethics hours and record retention

Describe Minnesota rules on unfair trade practices, rebating, twisting, and fiduciary handling of premium funds

Explain Minnesota free-look, replacement, and marketing disclosure requirements for life and health products

Apply a written ethical decision framework to four marketing scenarios involving misrepresentation, churning, unsuitable replacement, and commission sharing

Distinguish fiduciary duty from suitability standards and identify which applies in a given transaction

Identify prohibited advertising and lead-generation practices, including misleading illustrations and unapproved testimonials

Re-answer every item missed in Weeks 1-7 and update your personal error log with the rule behind each miss