LIFE & HEALTH ESSENTIALS
This Study Guide has been prepared to enhance your learning experience. It contains all of the Check-In questions, Knowledge Checks, and Self-Quizzes contained within the course, along with an Answer Key and Glossary. Use it as a tool to help practice and assess your knowledge of the course material, but do not mistake it for a comprehensive “short-cut” to preparing for the final exam.
Be sure to take a look at the Appendix that follows the Answer Key in this Study Guide. It contains valuable suggestions for test preparation and study techniques, as well as some sample exam questions and a glossary of terms.
Your path to success in passing the final exam will come from your attentiveness during the course and the effort you put into preparation.
Section 1: Circumstances for Buying Life Insurance
Section 1: Underwriting Concerns
This video illustrates the concept of risk assessment, and factors that may be of concern when underwriting a Life Insurance policy.
Section 1: Life Insurance Ratings
While there are many circumstances to consider, the video provides one example of a scenario that may affect one’s life insurance rating. In other words, how they are classified by insurers to determine how much life insurance premiums will be.
Section 2: Whole Life Insurance
This video focuses on the characteristics of a A type of permanent life insurance that is characterized by guarantees such as fixed death benefit, guaranteed cash value, and fixed premiums. More policy.
Section 2: Non-forfeiture Options of Whole Life
This video dives deeper into a A type of permanent life insurance that is characterized by guarantees such as fixed death benefit, guaranteed cash value, and fixed premiums. More policy– specifically, the contract provision known as Non-Forfeiture-Options.
Section 3: Standard Components to a Life Insurance Contract
This video outlines the four parts that make up the standard components to a Life Insurance contract.
Section 3: Guaranteed Insurability Rider
This video provides a scenario showcasing how a Sometimes called Guaranteed Purchase Option, an option that allows an insured or owner to buy additional coverage at certain times even though he or she may have become uninsurable due to a critical or even terminal illness. More provides options to cover one’s Life Insurance needs.
Section 3: Accessing Options
This video considers the options available for Whole Life policy owners when considering how to apply their dividends.
Section 4: Health Insurance Policy Categories–Intro
This video introduces the topic of Health Insurance, which is a category of insurance that affects most people in one way or another.
Section 4: Critical Illness Policy
This video provides a scenario that illustrates the need for a Critical Illness policy.
Section 4: Compliance–Department of Labor
This video takes a look at the A federal regulation enacted to protect participants and their beneficiaries. ERISA contains provisions that stand on their own and also added or amended provisions of the IRC. ERISA sets minimum standards that a plan must meet in order to receive favorable tax treatment. ERISA preempts a large part of state laws and provides an enforcement mechanism, mainly through the Employee More (A federal regulation enacted to protect participants and their beneficiaries. ERISA contains provisions that stand on their own and also added or amended provisions of the IRC. ERISA sets minimum standards that a plan must meet in order to receive favorable tax treatment. ERISA preempts a large part of state laws and provides an enforcement mechanism, mainly through the Employee More); a federal law establishing minimum standards for healthcare and retirement plans in private industry.
Section 4: Managed Care Plans
This video provides a scenario showing why companies, as third-party-payers, have restrictions in place for how much someone can spend. In Healthcare, this is known as internal limitations and cost containment.
Section 5: Federal Regulations
This video illustrates federal regulations affecting healthcare since the advent of the COVID-19 is a disease caused by a new strain of coronavirus. ‘CO’ stands for corona, ‘VI’ for virus, and ‘D’ for disease. Formerly, this disease was referred to as ‘2019 novel coronavirus’ or ‘2019-nCoV.’ For more information on how the COVID-19 pandemic has impacted the insurance industry visit https://www.scic.com/covid-19-conversations/ More pandemic.
Section 5: High-Deductible Health Plans
This video speaks to High Deductible Health Plans: Plans with lower premiums and higher deductibles than traditional health plans.
Section 6: Introduction to Medicare
This video introduces you to the topic of Medicare– the largest indemnity plan in existence in the United States.
Section 6: Eligibility for Medicare
This video looks further into A federal government medical insurance plan originally for individuals age 65 and older or disabled. The age requirement has been raised based on year of birth. More and the various factorings contributing to eligibility.
Section 6: Medicare Part D – Prescription Drugs
This video outlines A federal government medical insurance plan originally for individuals age 65 and older or disabled. The age requirement has been raised based on year of birth. More Part D – A voluntary outpatient prescription drug benefit for people with Medicare.