OK Life & Health study plan

Define the core life insurance concepts: mortality risk, insurable interest, and the purpose of life insurance in replacing income.

Distinguish term life from whole life, universal life, and variable life by their premium structure, cash value, and duration.

Explain the underwriting process, including risk classification, medical exams, and the role of the agent in the application.

Identify the parts of a life insurance contract: face amount, beneficiary designation, riders, and grace period.

Analyze standard policy provisions and riders, including waiver of premium, accidental death, and disability income riders.

Describe the roles of the owner, insured, beneficiary, and how ownership rights transfer.

Explain how dividends, nonforfeiture options, and policy loans work in participating and cash-value policies.

Calculate a simple net death benefit or cash surrender value given a policy scenario.

Apply the tax treatment of life insurance: death benefit exclusions, cash value growth, and taxation of policy loans and surrenders.

Explain annuities, including accumulation vs. payout phases, fixed vs. variable, and settlement options.

Distinguish qualified retirement plans (401(k), IRA, Roth) from annuities and identify the life insurance implications.

Describe business uses of life insurance: key person, buy-sell agreements, and group life.

Review the entire Life domain using a timed 50-question mock exam.

Identify the three weakest subtopics from the mock and re-study each.

Memorize key numeric thresholds and definitions that appear in life insurance questions.

Define accident and health insurance terms: morbidity, adverse selection, and the purpose of health coverage.

Distinguish major medical, hospital indemnity, disability income, and long-term care policies.

Explain the underwriting and claims process for health insurance, including pre-existing conditions and contestability.

Identify common health policy provisions: deductibles, coinsurance, copays, and out-of-pocket maximums.

Analyze disability income insurance: definition of disability, benefit periods, elimination periods, and occupation classifications.

Explain Medicare, Medicaid, and the coordination of benefits with private coverage.

Describe group health plans, COBRA continuation, and HIPAA portability rules.

Apply the tax treatment of health insurance premiums and benefits for individuals and employers.

Integrate life and health concepts by working mixed-topic questions that combine both domains.

Review the accident and health domain using a timed 50-question mock exam.

Re-study the weakest subtopics from both domains and close remaining gaps.

Take two full-length timed mock exams that mirror the exam's 50/50 domain weighting.

Review every missed question and confirm understanding before moving on.

Practice pacing and test-taking strategy for the real exam format.