RI Life & Health study plan

Define the core life insurance vocabulary (policyowner, insured, beneficiary, face amount, premium, cash value, death benefit) and use each term correctly in written explanations.

Compare term, whole life, universal life, variable life, indexed universal life, and endowment contracts on premium pattern, cash value, and duration of coverage.

Sequence the life underwriting steps from application through policy delivery and explain what insurable interest and risk classification mean at each stage.

Calculate a client's annual premium from a rate-per-$1,000 table and identify which policy type fits a stated need (income replacement, mortgage, final expenses).

Classify annuity contracts as immediate or deferred, fixed, variable, or indexed, and qualified or nonqualified, and state who bears the investment risk in each.

Contrast the accumulation phase with the annuitization phase and compare straight life, life with period certain, and installment refund payout options.

Differentiate individual and group health coverage and compare indemnity plans with HMO, PPO, and POS delivery models on network, referral, and cost-sharing features.

Outline the parts of Medicare and the basic role of Medicaid in covering health costs.

Apply the standard life policy provisions, including grace period, incontestability, reinstatement, misstatement of age and sex, suicide clause, and automatic premium loan, to written fact patterns.

Select the appropriate dividend option, nonforfeiture option, and settlement option for a stated beneficiary need.

Match life insurance riders (waiver of premium, disability income, accidental death, long-term care, term, child, return of premium) to client situations.

Identify the powers and duties of the state insurance department, producer licensing and continuing education rules, fiduciary responsibilities, replacement rules, and unfair trade practices.

Distinguish state regulation from federal statutes such as McCarran-Ferguson, ERISA, HIPAA, and the Affordable Care Act.

Apply health policy cost-sharing provisions, including deductible, coinsurance, copayment, elimination period, benefit period, inside limits, and out-of-pocket maximum, to numeric scenarios.

Interpret coordination of benefits, preexisting condition clauses, renewability and cancellation clauses, and the claims process including timely filing and proof of loss.

Explain risk, peril, hazard, pure versus speculative risk, indemnity, insurable interest, adverse selection, and reinsurance in your own words.

Differentiate stock and mutual insurers, authorized and unauthorized insurers, admitted and non-admitted markets, and the roles of agent, broker, and insurer.

Re-solve every missed item from weeks 1 and 3 and state the rule each one tested.

Build a 60-card flashcard deck linking each life policy feature, provision, and rider to the client problem it solves.

Teach back the life policy provisions and settlement options aloud in under 10 minutes without notes.

Complete a timed 50-question set on life insurance with no references open.

Re-solve every missed item from weeks 2 and 4 and record the underlying rule for each.

Distinguish exclusion-ratio taxation of annuity payments from taxation of life death benefits and cash value loans.

Compare managed care and indemnity plan cost-sharing by computing a member's out-of-pocket cost across three given claim scenarios.

Explain the taxation and portability rules for employer group health coverage, including COBRA and HIPAA creditable coverage basics.

Sit two full-length timed practice exams under test-day conditions with no notes or pauses.

Log every missed question by domain and root cause (unknown fact, misread stem, calculation error) in an error journal.

Drill the two weakest domains identified by the error journal until accuracy reaches 85%.

Recite from memory the licensing, continuing education, replacement, and unfair trade practice rules most likely to appear.

Review the error journal one final time and write the correction for each entry in a single cumulative cram sheet.

Complete one final simulated exam at full length and pace, finishing with at least 10 minutes to spare.

Verify state-specific rules for Rhode Island (producer licensing, replacement, and required policy provisions) against official material.

Confirm exam-day logistics: test format, timing, allowed materials, and identification requirements.