Welcome to Life & Health Insurance
Key Takeaways
- The guide covers nationwide general knowledge for Life and Health licensing.
- State-specific laws are not included and must be studied separately.
- Life insurance topics include policy types, riders, underwriting, and taxation.
- Health insurance topics include medical plans, disability, LTC, and government programs.
- Expect a 100-150 question multiple-choice exam with about a 70% passing score.
Welcome to Life & Health Insurance Exam Prep
Quick Answer: The Life & Health Insurance exam is typically 100-150 multiple-choice questions with about a 70% passing score (varies by state). It covers life insurance (term, whole, universal, variable, annuities) and health insurance (medical, disability, LTC, Medicare/Medicaid). Each state administers its own exam with state-specific content. You'll need pre-licensing education (varies by state) before testing.
This comprehensive study guide covers the nationwide general knowledge required for Life & Health Insurance licensing exams across the United States.
Important Disclaimer
State-Specific Content Not Included: This study guide focuses on general insurance principles, product knowledge, and federal regulations that apply nationwide. Each state has its own insurance department with unique laws, regulations, and requirements. You must supplement this material with your state's specific content before taking your licensing exam.
What This Exam Covers
The Life & Health Insurance exam tests your knowledge across two major areas:
Life Insurance
- Types of life insurance policies (term, whole, universal, variable)
- Annuities and retirement products
- Policy provisions, options, and riders
- Underwriting and policy delivery
- Group life insurance
- Taxation of life insurance and annuities
Health Insurance
- Medical expense and managed care plans
- Disability income insurance
- Long-term care insurance
- Medicare, Medicaid, and government programs
- The Affordable Care Act (ACA)
- Group health insurance and COBRA
Exam Format
| Component | Details |
|---|---|
| Questions | 100-150 (varies by state) |
| Duration | 2-3 hours |
| Passing Score | Typically 70% |
| Format | Multiple choice |
| National Pass Rate | ~63% combined |
Study Tips
- Master the fundamentals first - Understand basic insurance concepts before diving into specific products
- Know the differences - Be able to compare similar products (term vs. whole life, HMO vs. PPO)
- Focus on policy provisions - These are heavily tested
- Understand taxation - Know which benefits are taxable and which are tax-free
- Learn the regulations - Unfair trade practices and ethics are always on the exam
How This Guide Is Organized
| Part | Chapters | Topics |
|---|---|---|
| 1 | 1-3 | Insurance Fundamentals |
| 2 | 4-13 | Life Insurance |
| 3 | 14-16 | Annuities |
| 4 | 17-19 | Life Insurance & Annuity Taxation |
| 5 | 20-23 | Health Insurance Basics |
| 6 | 24-26 | Specialized Health Products |
| 7 | 27-29 | Government Health Programs |
| 8 | 30 | The Affordable Care Act |
| 9 | 31 | Health Insurance Taxation |
| 10 | 32-35 | Insurance Regulations & Ethics |
Let's begin your journey to becoming a licensed Life & Health Insurance professional!
Standalone Exam Application Drill
This section is part of the rebuilt standalone New Hampshire Life & Health Insurance (State) guide, so do not treat it as background reading. The official outline expects you to use this topic in mixed questions, where a general concept and a state-specific or exam-specific rule may appear in the same fact pattern.
| Trigger to recognize | How to use it on the exam |
|---|---|
| The guide covers nationwide general knowledge for Life and Health licensing. | Apply this point directly to exam-style facts and compare it with the closest wrong answer. In practice, ask what fact triggers the rule, what exception might change it, and what answer choice overstates the rule. |
| State-specific laws are not included and must be studied separately. | Apply this point directly to exam-style facts and compare it with the closest wrong answer. In practice, ask what fact triggers the rule, what exception might change it, and what answer choice overstates the rule. |
| Life insurance topics include policy types, riders, underwriting, and taxation. | Apply this point directly to exam-style facts and compare it with the closest wrong answer. In practice, ask what fact triggers the rule, what exception might change it, and what answer choice overstates the rule. |
| Health insurance topics include medical plans, disability, LTC, and government programs. | Apply this point directly to exam-style facts and compare it with the closest wrong answer. In practice, ask what fact triggers the rule, what exception might change it, and what answer choice overstates the rule. |
How this topic is tested
A typical question will not ask for a vocabulary definition. It will describe a client, applicant, insured, licensee, consumer, property owner, transaction, policy, claim, disclosure, office practice, or regulator action. First classify the topic under National Life & Health Portion: Introduction. Then decide whether the issue is a product/coverage rule, a licensing or conduct rule, a contract/document rule, a timing rule, or a remedy/penalty rule. That classification keeps you from picking an answer that sounds true but belongs to a different domain.
Review move
When you miss a practice question from this section, write one sentence in this format: “The trigger fact was ___; the rule was ___; the exception or trap was ___; the correct result was ___.” This converts the section into a usable exam checklist rather than a paragraph you merely reread. If the missed question involved a number, deadline, disclosure, form, coverage condition, ownership status, or regulator authority, make that fact a flashcard.
Final self-check
Before moving on, you should be able to explain the section title in plain English, name the main rule without looking, identify one misleading answer choice, and apply the rule to a scenario that changes one fact. If you cannot do those four things, reread the core text and answer the embedded quiz before continuing.