Ill. Admin. Code tit. 50, pt. 3119, exh. E
Course of Study Content Requirements | Time Distribution Requirements | ||||
I. | Types of policies and coverages | 32% | |||
A. | Endowment | ||||
B. | Term | ||||
1. | Level term | ||||
2. | Decreasing term | ||||
C. | Whole Life | ||||
D. | Limited Pay policies | ||||
E. | Combination plan | ||||
F. | Other types of policies: | ||||
1. | Modified life | ||||
2. | Family plans | ||||
3. | Deposit term | ||||
4. | Universal life | ||||
G. | Annuity | ||||
H. | Accidental death and dismemberment | ||||
I. | Uses for term insurance | ||||
J. | Uses for whole life insurance | ||||
K. | Group life | ||||
L. | Industrial insurance | ||||
II. | Policy provisions, options and benefits | 40% | |||
A. | Entire contract | ||||
B. | Insuring clause | ||||
C. | Free look | ||||
D. | Consideration clause | ||||
E. | Owner's rights | ||||
F. | Primary and contingent beneficiaries | ||||
G. | Change of beneficiary | ||||
H. | Grace period | ||||
I. | Automatic premium loan | ||||
J. | Reinstatement | ||||
K. | Policy loan | ||||
L. | Nonforfeiture options | ||||
M. | Dividends and dividends options | ||||
N. | Guaranteed insurability options | ||||
O. | Incontestability | ||||
P. | Assignment | ||||
Q. | Suicide | ||||
R. | Misstatement of age | ||||
S. | Settlement options | ||||
T. | Waiver of premiums | ||||
U. | Accidental death benefit | ||||
V. | Term riders | ||||
W. | Exclusions | ||||
X. | Conversion Options (individual and group) | ||||
III. | Completing the application and delivering the policy | 16% | |||
A. | Completing the application and obtaining necessary signatures | ||||
B. | Warranties and Representations | ||||
C. | Complying with provision of Fair Credit Reporting Act and Illinois Insurance Privacy Act | ||||
D. | Explaining the effect of the application with money | ||||
E. | Explaining the effect of the application without money | ||||
F. | The underwriting process | ||||
G. | Delivery and explanation of the policy | ||||
IV. | Taxes, retirement and other insurance concepts | 12% | |||
A. | Insurable interest | ||||
B. | Third party ownership | ||||
C. | Individual tax shelter plans, IRA, Keogh and TSA | ||||
D. | Social Security benefits and taxes | ||||
E. | Tax treatment of premiums and proceeds of insurance contracts | ||||
F. | Determination of premiums | ||||
1. | Mortality | ||||
2. | Interest | ||||
3. | Mortality | ||||
G. | Policy reserves | ||||
Ill. Admin. Code tit. 50, pt. 3119, exh. E