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Texas Life and Health Insurance Study Guide

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Section 1 Distinguish level, decreasing, and renewable term insurance Preview

Preview: General I: Types of Life Policies

Preview includes

4 of 4 lesson topics
1 overview segment
3 core concepts
2 exam tips

Lesson Topics

Term Insurance Types
Decreasing Term Functionality
Annually Renewable Term Features
Premium Adjustments in Term Insurance

Overview

This objective focuses on understanding the distinctions between level, decreasing, and annually renewable term insurance designs. Each design is suited to different financial obligations and risk profiles.

Core Concepts

Level term insurance maintains a consistent death benefit throughout the policy term.
Decreasing term insurance reduces the death benefit to match a declining obligation, such as a mortgage.
Annually renewable term insurance offers yearly renewal options, but premiums typically increase with age.

Exam Tips

Carefully analyze the scenario to identify the primary financial need being addressed.
Consider the time horizon of the obligation – is it short-term or long-term?

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Section 2 Exercise policyowner rights and assignments Pro

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Section 3 Complete and correct a life or health application Pro

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Section 4 Use third-party and business-owned life insurance Pro

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Section 5 Match disability-income coverage to an income risk Pro

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Section 6 Apply required accident-and-health policy provisions Pro

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Section 7 Identify Medicare Part A coverage Pro

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Section 8 Distinguish total, partial, and residual disability Pro

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Section 9 Make a compliant sales presentation Pro

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Section 10 Apply commissioner investigation and enforcement authority Pro

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Section 11 Provide required life marketing and illustration disclosures Pro

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Section 12 Apply Texas newborn and dependent coverage rules Pro

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Section 13 Deliver and interpret an HMO evidence of coverage Pro

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Section 14 Compare whole life premium and cash-value designs Pro

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Section 15 Distinguish revocable and irrevocable beneficiaries Pro

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Section 16 Establish insurable interest at policy issue Pro

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Section 17 Use group-life conversion rights Pro

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Section 18 Distinguish basic medical, major medical, and comprehensive coverage Pro

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Section 19 Distinguish renewability classifications Pro

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Section 20 Identify Medicare Part B coverage Pro

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Section 21 Apply own-occupation and any-occupation definitions Pro

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Section 22 Record application answers and changes accurately Pro

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Section 23 Determine whether conduct constitutes acting as an agent Pro

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Section 24 Apply Texas individual-life mandatory provisions Pro

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Section 25 Apply Texas chemical-dependency coverage requirements Pro

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Section 26 Apply HMO cancellation and nonrenewal limits Pro

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Section 27 Keep universal life in force under flexible funding Pro

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Section 28 Apply grace, reinstatement, and lapse provisions Pro

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Section 29 Evaluate underwriting risk classifications Pro

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Section 30 Distinguish qualified and nonqualified retirement plans Pro

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Section 31 Apply deductible, coinsurance, and stop-loss mechanics Pro

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Section 32 Process notice, proof, payment, and legal action on a claim Pro

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Section 33 Distinguish Part C, Part D, and Medigap Pro

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Section 34 Apply recurrent and presumptive disability provisions Pro

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Section 35 Collect initial premium and issue the proper receipt Pro

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Section 36 Complete licensing, appointment, and temporary-license steps Pro

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Section 37 Apply Texas group-life and credit-life rules Pro

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Section 39 Process emergency and protected out-of-network HMO care Pro

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Section 40 Match variable life to investment-risk tolerance Pro

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Section 41 Use policy loans and nonforfeiture options Pro

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Section 42 Use consumer and medical information lawfully Pro

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Section 43 Apply IRA rollover and distribution concepts Pro

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Section 44 Choose among HMO, PPO, POS, and EPO designs Pro

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Section 46 Distinguish Medicaid from Medicare Pro

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Section 47 Use key-person and business-overhead disability coverage Pro

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Section 48 Deliver and explain the issued contract Pro

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Section 49 Meet renewal and continuing-education requirements Pro

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Section 50 Complete a Texas life or annuity replacement Pro

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Section 51 Handle HIV or AIDS testing and information lawfully Pro

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Section 52 Distinguish indexed life from variable and fixed designs Pro

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Section 53 Select a dividend option for a participating policy Pro

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Section 54 Apply conditional-receipt coverage terms Pro

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Section 55 Apply federal life-insurance tax treatment Pro

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Section 56 Distinguish contributory and noncontributory group plans Pro

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Section 57 Apply exclusions, coordination, and preexisting-condition rules Pro

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Section 59 Choose among HSA, FSA, and HRA arrangements Pro

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Section 60 Identify and document replacement activity Pro

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Section 61 Maintain records and notify TDI of reportable changes Pro

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Section 62 Apply Texas annuity and nonforfeiture protections Pro

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Section 63 Apply Texas long-term-care consumer protections Pro

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Section 64 Select individual, group, or credit life coverage Pro

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Section 65 Select a death-benefit settlement option Pro

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Section 66 Deliver a policy and explain changed terms Pro

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Section 67 Apply annuity taxation and Section 1035 exchange concepts Pro

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Section 68 Apply COBRA continuation after a qualifying event Pro

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Section 69 Apply disability-income riders and benefit adjustments Pro

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Section 70 Protect consumer and medical information Pro

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Section 71 Avoid misrepresentation, deceptive advertising, and rebating Pro

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Section 72 Apply small-group health eligibility and renewal rules Pro

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Section 73 Use joint-life and survivorship policies correctly Pro

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Section 74 Match common riders to the insured need Pro

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Section 75 Compare premium modes and policy cost Pro

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Section 76 Distinguish dental benefit designs Pro

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Section 77 Apply long-term-care riders and nonforfeiture features Pro

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Section 78 Handle premiums, claims information, and suspected fraud properly Pro

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Section 79 Explain Marketplace plans, subsidies, and essential benefits Pro

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Section 80 Distinguish deferred and immediate annuities Pro

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Section 81 Apply exclusions and suicide provisions narrowly Pro

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Section 82 Identify and document a replacement Pro

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Section 83 Select long-term-care benefit features Pro

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Section 84 Use group-health continuation and conversion rights Pro

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Section 86 Choose an annuity payout option Pro

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Section 87 Apply entire-contract, incontestability, and misstatement rules Pro

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Section 88 Distinguish Medicare supplement from Medicare Advantage Pro

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Section 89 Recognize limited-benefit and specified-disease policies Pro

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