TN Life & Health study guide
TN Life & Health · Work through your exam, one topic at a time.
The Tennessee Life & Health insurance producer license is the credential a candidate needs to sell life insurance and accident-and-health insurance products in Tennessee. It suits people entering or transferring into the insurance industry - career changers, agency staff, bank and credit-union employees, and benefits or financial-services professionals - who must pass a state licensing exam before applying for the license. The TN Life & Health study guide has 5 sections and about 1,723 words.
01Tennessee Insurance Laws, Rules, and Regulations
Tennessee insurance is regulated at the state level by the Department of Commerce and Insurance, headed by the Commissioner of Commerce and Insurance, who is appointed by the Governor - not elected. The Commissioner licenses producers and agencies, reviews policy forms (and rates in health lines), conducts market-conduct examinations, issues cease-and-desist orders, and imposes fines or license suspension/revocation.
335 words, about 2 min02General Insurance Concepts
Risk is uncertainty about loss; a peril is the cause of loss (fire, illness, death); a hazard is a condition that increases the chance or severity of loss - physical, moral (dishonesty), or morale (carelessness). Insurance handles pure risk (loss or no loss).
346 words, about 2 min03Life Insurance Basics and Policy Types
Field underwriting starts with the producer: never answer questions for the applicant and never withhold known facts. The application has general information, medical history, and the agent's report.
358 words, about 2 min04Annuities and Retirement Products
An annuity is a contract that liquidates a lump sum into income and grows tax-deferred. Parties: owner (controls the contract), annuitant (whose life measures payments), beneficiary .
355 words, about 2 min05Health Insurance Basics and Policy Provisions
A deductible is the amount paid before benefits begin; coinsurance is the percentage split after the deductible; a copay is a flat fee, usually not subject to the deductible; the out-of-pocket maximum caps insured spending. Know waiting periods , elimination periods , preauthorization, and utilization review.
329 words, about 2 min