NH Life & Health study guide
NH Life & Health · Work through your exam, one topic at a time.
The New Hampshire Life & Health producer license is the credential that allows a resident to sell life insurance and accident and health insurance products in New Hampshire. It is aimed at people entering insurance sales, agency and brokerage staff who need authority to solicit or negotiate coverage, and employees of carriers or agencies who advise clients on life and health products. The NH Life & Health study guide has 10 sections and about 3,098 words.
01Insurance Regulation
Insurance is regulated primarily at the state level. The McCarran-Ferguson Act (1945) confirmed state oversight and gave insurance a limited antitrust exemption.
295 words, about 1 min02General Insurance Concepts
Risk is uncertainty about loss. Peril is the cause of a loss (fire, illness, accident).
316 words, about 2 min03Life Insurance Basics
Four roles: owner, insured, beneficiary, and payor (often the owner). Insurable interest must exist at policy issue for life insurance, not at death; that distinction is a favorite trap.
306 words, about 2 min04Life Insurance Policies
Term is pure death protection with no cash value: level, decreasing (mortgage protection), increasing, annually renewable term, renewable term, convertible term, and return-of-premium term. Renewability guarantees the right to continue coverage without new evidence of insurability.
312 words, about 2 min05Life Insurance Policy Provisions, Options, and Riders
The entire contract clause means the policy plus the attached application are the whole agreement, and an agent cannot change it orally. Incontestability bars the insurer from contesting the policy after two years for misstatements, though nonpayment of premium is always contestable.
324 words, about 2 min06Annuities
An annuity is often called the opposite of life insurance: it liquidates an estate rather than creating one, and it protects against the risk of living too long by pooling longevity risk. Contributions are made with after-tax dollars in nonqualified annuities and grow tax-deferred; there is no premium deduction.
322 words, about 2 min07Health Insurance Basics
Health insurance prices morbidity, not mortality. Underwriting examines medical history, occupation, avocations, and lifestyle.
316 words, about 2 min08Health Insurance Policy Provisions
State law requires individual health policies to contain a standard set of provisions, and the timelines supply most exam questions. Entire contract: the policy plus the attached application.
307 words, about 2 min09Disability Income and Medical Expense Insurance
Disability income replaces part of earned income, typically 60 to 70%, and never the full amount, or the insured has no incentive to return to work. Key definitions: own occupation (more generous, often limited to the first two years) versus any occupation; total versus partial versus residual disability.
282 words, about 1 min10Group Health Insurance and Other Health Coverages
One master policy is issued to the employer or association, and participants receive certificates. Eligibility rules such as waiting periods and actively-at-work requirements, plus participation requirements, limit adverse selection.
318 words, about 2 min