Pennsylvania Life & Health and Accident Insurance Exam Prep

This course will provide life and health insurance licensing candidates in Pennsylvania with the materials needed to successfully prepare for the life and health license examination. This 24-hour course covers all of the topics included within the Pennsylvania Candidate Information Bulletin, and will give the student a solid base of knowledge and understanding for the license examination.

This updated course includes many illustrations, examples, and quizzes associated with the state test, and provides a well-rounded approach to test preparation. The topics covered in the course begin with General insurance, continues with Insurance Regulation in the Commonwealth and then explores the basics of life insurance, which will introduce the candidate to terms, definitions and concepts that are the foundation of life insurance coverage.

The course continues with information on individual and group life insurance policies, including provisions that are important to this section. Life insurance provisions, options and riders are detailed in the course. Annuities are heavily covered, including the different types of annuities, the payout options, and how the parties to the contract relate to the premiums and benefits provided.

Federal taxation of life insurance, annuities and retirement plans are discussed, with an emphasis on examples and other tools to assist the producer in determining taxable events. The course explains various qualified and nonqualified retirement plans, such as IRAs and group retirement plans. The course concludes with a discussion and exploration of life insurance laws and regulations in the state. The course includes material on everything necessary to successfully prepare for the exam:

• Life Insurance Basics, including insurable interest requirements, determining the proper amount of life insurance, life insurance settlements, types of policies and the responsibilities of licensees.
• Life insurance policies include term and permanent insurance, specialized policies and a discussion of group life insurance and the differences between group and individual coverage.
• Life insurance provisions, options, and riders: This lesson contains material on the different provisions that are included within life insurance contracts. Policy options are discussed, including dividends, beneficiary designations, loans and withdrawals from permanent policies, and various riders that may be attached to life insurance contracts.
• Annuities: A large section of the exam, annuities are discussed in detail. Included are types of annuities, the parties to the contract, payout options, fixed and variable products, and how annuities relate to insurance..
• Federal Tax considerations: The course explains various life insurance tax implications and how they affect policyholders. Detailed are cash value growth within life insurance policies and annuities, surrenders, Modified Endowment contracts, taxation of traditional and ROTH IRAs, and rollovers and transfers of funds from one account to another.
• Insurance for Senior Citizens and Special Needs Individuals: This lesson includes material on Medicare and Medicaid, Medicare Supplements/Medigap plans, other options for people with Medicare, Long-term care insurance policies, Qualified long-term care plans, and exclusions and conditions.
• Laws and rules specific to life insurance, such as disclosures, marketing and advertising concerns, licensing requirements, and state rules that regulate provisions found in life insurance policies.

The course will also contain material on the laws and rules that are mandated in Pennsylvania for insurance producers, insurance companies, and others in the insurance business. In the lessons for laws and rules, the course covers insurance regulation in Pennsylvania, general insurance concepts, terms and definitions, and material specific to health insurance laws and rules.

• General Insurance includes material on concepts, methods of handling risk including elements of an insurable risk, adverse selection and the Law of Large Numbers, Producers and general rules of agency, contracts and required elements, the distinct characteristics of insurance contracts and more.
• Insurance Regulation: Licensing and purpose, maintenance and duration of license, including continuing education requirements and renewal procedures, state regulations, unfair trade practices, Federal regulation, including the Fair Credit Reporting Act and Fraud and False Statements: U.S. Civil Code Sections 1033 and 1034.

This updated course includes many illustrations, examples, and quizzes associated with the state test, and provides a well-rounded approach to test preparation. The topics covered in the course begin with the basics of Health insurance, and introduce the candidate to terms, definitions and concepts that are the foundation of health insurance coverage.

The course continues with information on individual health insurance policy provisions that are included within the policies. Disability Income contracts are discussed, with an emphasis on coverage and associated benefits and provisions. The medical plans that are available in the state are detailed, along with terms and concepts related to health insurance contracts.

Group insurance is deeply explored and contains information on group policyowners, how employees are insured, the requirements of group insurance compared to individual policies, and how groups may be legally formed, among other pieces of information.

Dental insurance is covered, including how the Affordable Care Act mandates coverage for children. The course next dives into insurance coverage for senior citizens, and the lessons explain the coverages, mandates, legal requirements, and protections offered to senior citizens. The course begins to conclude with tax information related to health insurance.The course includes material on everything necessary to successfully prepare for the exam:

• Health Insurance Basics, including types of products and benefits, types of policies, exclusions and producer responsibilities and individual underwriting.
• Individual Health Insurance Policy General Provisions: Uniform required and optional provisions and other general provisions.
• Disability Income Insurance, including qualifying for benefits, individual disability underwriting/unique aspects, occupational and nonoccupational considerations, and riders and other cash benefits.
• Medical plans include medical plan concepts, types of providers and medical plans, health care reform: Patient Protection and Affordable Care Act (PPACA), the Health Insurance Exchange and SHOP Marketplace and Health Insurance Portability and Accountability Act (HIPAA).
• Group Health insurance. This lesson includes the purpose of group insurance,types of eligible groups, marketing considerations, employer group health insurance, the coordination of benefits provision, and small employer medical plans.
• Dental Insurance includes pediatric care and the Affordable Care Act, categories of dental treatment, definitions, concepts. access to dental coverage and employer group dental expenses.
• Insurance for Senior Citizens and Special Needs Individuals: This lesson includes material on Medicare and Medicaid, Medicare Supplements/Medigap plans, other options for people with Medicare, Long-term care insurance policies, Qualified long-term care plans, and exclusions and conditions.
• Federal Tax Considerations for Health Insurance: Personally-owned health insurance, employer group health insurance, medical expense for sole proprietors and partners, Health Savings Accounts and Health Reimbursement Accounts and business disability insurance.
• Laws and rules specific to health insurance, such as disclosures, marketing and advertising concerns, licensing requirements, and state rules that regulate provisions found in health insurance policies.
• Ethics: This required portion of pre license education details ethics for insurance professionals. The lesson explores ethical concepts and duties that are expected of insurance producers. Topical definitions are included, as well as numerous ethical situations and potential outcomes. Different types of ethical decision-making scenarios are presented with suggested solutions. Ethics in the agency and of insurance companies are included.

Each lesson will include a practice examination with complete explanations and details to help the student retain information. There is a 150 question final examination designed to mimic the state examination, and must be successfully completed in order to receive credit for the course.

Course Format: Audio & Text