MO Life & Health study plan

Define risk, peril, hazard, loss, and exposure, and classify pure versus speculative risk from written examples

Distinguish indemnity, valued, and reimbursement approaches to paying claims

Identify the elements of a valid contract and explain offer, acceptance, consideration, and legal purpose in an insurance context

Explain insurable interest, utmost good faith, warranties, representations, and concealment

Differentiate stock and mutual insurers, admitted and nonadmitted carriers, and the roles of producers and brokers

Trace the flow of an application through underwriting to policy issue and delivery

Explain the purpose and mechanics of the Missouri Life and Health Insurance Guaranty Association

Outline how insurance is regulated at the state level and where federal law intersects (ERISA, ACA)

Describe the standard structure of a policy: declarations, insuring clause, exclusions, conditions, and endorsements

Summarize Missouri producer licensing requirements including prelicensing education, exam, appointment, and continuing education

List producer and insurer prohibited acts, fiduciary duties for premiums, and recordkeeping obligations

Identify unfair trade practices and unfair claim settlement practices under Missouri law

Explain replacement rules and the required disclosure and notification steps when a policy is replaced

State Missouri-specific time limits for policy delivery, free-look, and claim handling

Re-test all weak spots logged in weeks 2 and 3

Distinguish Missouri rules from general insurance principles when both appear in one question stem

Build a personal error log of every missed question with the rule that was actually tested

Define the additional Missouri requirements around advertising, marketing, and consumer privacy

Compare term, whole life, universal life, variable life, and variable universal life by premium, cash value, and risk bearer

Explain how participating and nonparticipating policies differ and how dividends are treated

Describe the major life policy provisions: grace period, reinstatement, incontestability, misstatement of age, suicide clause, and free look

Identify common riders such as waiver of premium, accidental death, guaranteed insurability, and long-term care

Explain the underwriting and classification process including field underwriting and the medical information bureau

Distinguish fixed, variable, and indexed annuities and identify when accumulation versus payout applies

Explain surrender charges, exceptions, and the tax treatment of annuity distributions

Differentiate group life underwriting and conversion and portability rights from individual coverage

Describe business uses of life insurance including buy-sell funding, key person, and split dollar arrangements

Calculate the tax treatment of death benefits, cash value growth, policy loans, and accelerated death benefits

Compare individual disability income, group disability, and business overhead expense coverage by benefit period and definition of disability

Explain own-occupation versus any-occupation definitions and how the waiting period affects benefits

Identify the major health policy provisions and exclusions including preexisting condition treatment, coordination of benefits, and subrogation

Describe Medicare Parts A through D, Medicare Advantage, Medicaid, and eligibility for each

Explain group health requirements including COBRA continuation and HIPAA portability and privacy rules

Distinguish HMO, PPO, POS, and indemnity plans by network, referrals, and cost sharing

Re-drill Missouri consumer protection rules that touch health coverage, including claim payment timelines and grievance rights

Practice a full-length mixed exam reviewing all four domains under timed conditions