| Topic 1: Life - Hawaii Specific | - Hawaii Laws and Rules Pertinent to Life Insurance Only
- 1. Marketing methods and practices
- 2. Policy Clauses and Provisions
- Protection of beneficiaries from creditors
- Policy loan interest rate
- Spouse's rights
- 3. Variable Contracts
- 4. Group Life
- Group requirements
- Assignment of proceeds
- Conversion
- 5. Credit Life
- 6. Participation in Surplus
- Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
- 1. Guaranty Associations
- 2. Insurance Commissioner
- General powers and duties
- Examination of records
- Notice of hearings
- Penalties
- 3. Definitions
- Authorized and unauthorized
- Domestic, foreign, and alien
- Stock, reciprocal and mutual
- Certificate of authority
- Insurance
- 4. Licensing
- General qualifications for licensing
- Persons required to be licensed
- Denial, suspension, and revocation of licenses
- Renewal of license and continuing education
- 5. Marketing practices
- Unfair and deceptive practices
- Reporting and accounting for premiums
- Sharing commissions
- Required records and record retention
- Controlled business
- Premiums
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| Topic 2: Life - General Knowledge | - Retirement and Other Insurance Concepts
- 1. Retirement plans
- Qualified plans
- Nonqualified plans
- 2. Life insurance needs analysis and suitability
- Personal insurance needs
- Business insurance needs
- 3. Group life insurance
- Conversion privilege
- Contributory vs. noncontributory
- 4. Life settlements
- 5. Social Security benefits
- 6. Tax treatment of insurance premiums, proceeds, and dividends
- Individual life
- Group life
- Modified Endowment Contracts
- 7. Third-party ownership
- Life Provisions, Riders, Options, and Exclusions
- 1. Policy riders
- Waiver of premium and waiver of monthly deduction
- Guaranteed insurability
- Payor benefit
- Accidental death and/or accidental death and dismemberment
- Term riders
- Other insureds
- Long term care
- Return of premium
- Disability
- Cost of Living
- 2. Policy exclusions
- War
- Aviation
- Dangerous occupation
- 3. Policy provisions and options
- Entire contract
- Insuring clause
- Free look
- Consideration
- Owner's rights
- Beneficiary designations
- Premium payment
- Reinstatement
- Policy loans, withdrawals, partial surrenders
- Non-forfeiture options
- Dividends and dividend options
- Incontestability
- Assignments
- Suicide
- Misstatement of age and gender
- Settlement options
- Accelerated death benefits
- Types of Policies
- 1. Traditional whole life products
- Ordinary whole life
- Limited-pay and single-premium life
- 2. Combination plans and variations
- Joint life (first to die)
- Survivorship life (second to die)
- 3. Annuities
- Single and flexible premium
- Immediate and deferred
- Fixed and variable
- Indexed
- Accumulation and annuity periods
- Payout options
- 4. Term life
- 5. Interest/market-sensitive/adjustable life products
- Universal life
- Variable whole life
- Variable universal life
- Interest-sensitive whole life
- Indexed life
- Completing the Application, Underwriting, and Delivering the Policies
- 1. Completing the application
- Required signatures
- Changes in the application
- Consequences of incomplete applications
- Warranties and representations
- Collecting the initial premium and issuing the receipt
- Replacement
- Disclosures at point of sale
- USA PATRIOT Act and anti-money laundering
- Gramm-Leach-Bliley Act privacy
- 2. Contract law
- Elements of a contract
- Unique aspects of the insurance contract
- 3. Delivering the policy
- When coverage begins
- Explaining the policy and its provisions, riders, exclusions, and ratings to the client
- 4. Underwriting
- Insurable interest
- Medical information and consumer reports
- Fair Credit Reporting Act
- Risk classification
- Stranger/Investor-owned life insurance
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