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9 sessions · ~112 minutes total · Listen in order for best results
This session introduces the core concepts of life insurance, starting with the principle of insurable interest and the elements of a legal contract. We will explore the unique characteristics of insurance contracts, such as adhesion, aleatory, and unilateral. You will also learn about the significance of warranties and representations in the application process and the importance of the entire contract clause.
Dive deep into the various types of life insurance policies available. This track will compare and contrast term life insurance with permanent life insurance options like whole life and universal life. We will also touch upon variable life insurance and its investment components, helping you understand the right product for different client needs.
Explore the world of annuities and their role in retirement planning. This session will differentiate between immediate and deferred annuities, as well as fixed and variable annuities. We will also discuss the tax treatment of annuities and how they can be used to create a guaranteed income stream for life.
This track provides a comprehensive overview of health insurance, covering the different types of medical expense policies and the concept of managed care. We will discuss the roles of deductibles, copayments, and coinsurance in cost-sharing. You will also learn about the various policy provisions that are common in health insurance contracts.
Delve into the specifics of medical expense and disability income insurance. This session will explain the differences between 'own occupation' and 'any occupation' definitions of disability. We will also cover the benefits and limitations of various medical expense policies, ensuring you can guide clients toward adequate protection.
Learn about the intricacies of group health insurance and the Consolidated Omnibus Budget Reconciliation Act (COBRA). This track will explain how group policies are underwritten and administered. We will also detail the qualifying events for COBRA continuation coverage and the rights of employees and their dependents.
This session demystifies the government-sponsored health programs of Medicare and Medicaid. We will break down the different parts of Medicare (A, B, C, and D) and explain the eligibility requirements for each. You will also gain an understanding of Medicaid and its role in providing healthcare for low-income individuals.
Explore the importance of long-term care (LTC) insurance in financial planning. This track will differentiate between skilled, intermediate, and custodial care. We will also discuss the triggers for LTC benefits and the various policy options available to clients.
This final session covers the critical aspects of insurance regulation and ethics. We will discuss the Fair Credit Reporting Act (FCRA), HIPAA privacy rules, and the rules around policy replacement. You will also learn about the ethical responsibilities of an insurance professional, ensuring you are prepared to act in the best interest of your clients.
Life and Health Insurance Licensing Exam
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