Jun 25, 2025 | Study Notes, Life & Health
Annuity Basics Annuities are considered the opposite of life insurance. Instead of dying too soon, you live too long. An annuity is about making sure you have money to last you while your alive, especially if you’re retired and not bringing in income. Most of us are...
Jun 19, 2025 | Study Notes, Life & Health
“Accidental Bodily Injury” Vs. “Accidental Means” Accidental bodily injury will cover you for any type of injury that comes from any accident. You want your policy to be this way, since it’s the most liberal definition and covers more. A policy that is accidental...
Jun 11, 2025 | Study Notes, Life & Health
7 Pay Test MEC For purposes of the exam there are a couple of important things to keep in mind. You don’t need to know how to do the “7 pay Test” and you really don’t even need to know what it is … you just need to know: There is...
May 23, 2025 | Study Notes, Life & Health
Buy-Sell Agreement A buy-sell agreement is when there are two or more people who have started a business together. Each partner buys insurance on each other just in case one of them dies or becomes disabled. This allows the still alive business owner who has not died...
May 16, 2025 | Study Notes, Life & Health
Nonforfeiture Options: Extended Term, Reduced Paid-Up, Cash Assume you have had a whole life policy for awhile. You have made the premium payments and never touched the cash value so it’s been growing as it should. You get to a point in life where maintaining this...
May 14, 2025 | Study Notes, Life & Health
Limited Pay Life Limited Pay life, where you buy a WHOLE life policy, but only make payments for a certain period of time. Essentially you pay the premium off faster. For instance, a guy at 40 buys a Limited Pay Whole life policy. He wants permanent coverage, but he...
