PA Life & Health study guide
PA Life & Health · Work through your exam, one topic at a time.
The Pennsylvania Life, Accident & Health producer license is a state-issued credential that authorizes a person to solicit, negotiate, and sell life insurance and accident and health insurance products in the Commonwealth. It is intended for new agents entering the insurance business, career changers, and anyone who needs to add life and health authority to an existing producer record. Licensing is administered by the Pennsylvania Insurance Department, which handles applications, renewals, appointments, and continuing education, while the qualifying exam itself is delivered through the Department's testing vendor, Pearson Professional Assessments (formerly Pearson VUE). The exam is multiple choice and is organized into four equally weighted sections of 25 percent each: Pennsylvania insurance law, regulations, and Department notices; general insurance concepts; life insurance; and accident and health insurance. The PA Life & Health study guide has 4 sections and about 1,812 words.
01Pennsylvania Insurance Law, Regulations and Department Notices
Pennsylvania insurance is governed chiefly by the Insurance Company Law of 1921, the Unfair Insurance Practices Act, and the Producer Licensing Act, all administered by the Pennsylvania Insurance Department under an Insurance Commissioner appointed by the Governor. The Department examines insurers, reviews complaints, adopts regulations, holds hearings, and may fine, suspend or revoke licenses and place troubled insurers in rehabilitation or liquidation.
740 words, about 4 min02General Insurance Concepts
Insurance transfers pure risk (loss or no loss); speculative risk (chance of gain) is not insurable. A peril is the cause of loss (fire, death, accident); a hazard increases the chance or severity of loss - physical (icy steps), moral (intentional dishonesty), or morale (indifference, such as leaving a car unlocked).
351 words, about 2 min03Life Insurance
Term provides pure death protection for a stated period and builds no cash value; it may be level, decreasing, increasing or renewable and convertible. Whole life is permanent with guaranteed premiums, guaranteed cash value and nonforfeiture options: cash surrender, reduced paid-up , and extended term .
350 words, about 2 min04Accident and Health Insurance
Health policies pay for medical expense; disability policies replace income. Cost sharing includes the deductible , coinsurance (the insured's percentage after the deductible), copayment and out-of-pocket maximum.
371 words, about 2 min