NY Life & Health case studies
NY Life & Health · Put your knowledge to work in context.
The New York Life, Accident and Health Insurance Agent/Broker licensing examination is the state exam that candidates generally must pass as part of the New York State Department of Financial Services (DFS) licensing process for life, accident, and health insurance agents and brokers. This page is an independent study resource. The NY Life & Health case studies are 5 cases and about 3,777 words.
1The Impatient Producer: Appointment, Premium, and Rebate Problems
Priya has been a New York life insurance producer since 2019, appointed by Insurer A. In March she terminated her A contract and signed a contract with Insurer B, which mailed her appointment paperwork on April 2.
753 words, about 4 min2Stranger-Originated Coverage, a Buy-Sell, and a Reluctant Insured
Marcus, 58, owns 45% of a four-member LLC valued at 9 million; his wife and two adult children are his heirs and he has no liquidity problem. A firm called Cornerstone Capital offers to have an irrevocable trust buy a 5 million policy on Marcus's life.
751 words, about 4 min3Two Years, One Crash: Incontestability, ADB, and a Changed Beneficiary
Kevin bought a 750,000 20-year level term policy effective January 10, 2020, with a 250,000 accidental death benefit rider and a waiver-of-premium rider (90-day elimination; own-occupation for 24 months, then any-occupation). The application stated he had never used tobacco.
717 words, about 4 min4The 1035 Bonus, the Income Plan, and the Roth Question
Rosa is 64, born in 1961, and retiring in June. She holds a nonqualified deferred annuity with a 450,000 account value and 260,000 cost basis, carrying a 3% surrender charge that expires in 20 months plus a market value adjustment; a traditional IRA of 620,000 with no basis; and a Roth IRA of 80,000 opened in 2015.
763 words, about 4 min5The Dentist Who Cut Back to Three Days
Denise, 52, is sole owner and a dentist in a six-employee practice. Her individually owned disability policy, with personally paid premiums, pays 8,000 a month: 90-day elimination, own-occupation for 24 months, then any-occupation, with a residual rider paying a proportional benefit for income loss of 20% or more.
793 words, about 4 min