Life Agent exam topics

The life general-knowledge section and Texas rules tested on the Life Agent exam.

Showing 211 to 220 of 294 articles · Page 22 of 30

Life Insurance Transfer-for-Value RuleThe transfer-for-value rule can limit the federal income-tax exclusion for life insurance proceeds when a policy or interest is transferred for valuab…
Life Insurance Underwriting: Prescription, Medical, and Financial RecordsLife insurers may evaluate prescription history, medical records, exam results, and financial information to assess an application, subject to applica…
Life Insurance vs. Annuities: Who Receives the Benefit?Life insurance is designed to pay a death benefit to the beneficiary when the insured dies. An annuity accumulates value or provides income to an owne…
Life Settlement vs. Viatical SettlementTexas law largely uses the unified term life settlement, though illness status can still affect statutory definitions and exceptions. Life settlements…
Long-Term-Care Life Rider: Reimbursement vs. IndemnityA reimbursement long-term-care life rider generally pays eligible covered expenses up to its limit. An indemnity rider generally pays a stated benefit…
MEC Seven-Pay Test After a Material Policy ChangeA material change to a life policy can start a new seven-pay test under Internal Revenue Code §7702A. The insurer recalculates the premium limit using…
MIB Reports and Medical Information in Life UnderwritingMIB is a consumer reporting agency that helps member insurers identify previously reported underwriting information. Its coded file prompts further re…
Modified Endowment Contract Loans vs. Ordinary Policy LoansA loan from an ordinary non-MEC life policy is generally not treated as taxable income while the policy remains in force, subject to contract and tax …
Modified Endowment Contract: Seven-Pay Test and Tax OrderA life policy generally becomes a modified endowment contract (MEC) when it qualifies as life insurance but fails the federal seven-pay test. The test…
Multiple Life Insurance Beneficiaries: Percentages and Unequal SharesYou can generally name multiple beneficiaries and assign different shares, subject to the policy form. State primary and contingent beneficiaries clea…