VERBACARD · BUYER’S RESOURCES

Life & Health
Companion Lessons

Go beyond the cards with clear explanations, worked examples, and interactive practice.

People & Policy Basics

Start with cards T001–T013. Choose a lesson or jump straight to a card’s term.

T001–T006

People & Roles

Identify who provides the insurance, whose life is covered, who controls the contract, and who receives its proceeds.

T007–T010

Policy Basics

Separate the price of insurance, the written contract, the protection it provides, and the benefits payable.

T011–T013

Claims & Policy Changes

Understand a request for benefits, a provision removing coverage, and an amendment changing the contract.

Risk & Insurance Companies

Cards T014–T032. Compare the terms, then practice applying them.

T014–T016

Risk & Hazards

Distinguish uncertainty, the cause of a loss, and conditions that make loss more likely.

T017–T019

Pooling & Selection

Understand how shared exposures, statistical prediction, and the mix of insured risks affect insurance.

T020–T024

Ways to Handle Risk

Compare retention, transfer, avoidance, and reduction, then see how insurers use reinsurance.

T025–T029

Insurer Types & Authorization

Separate company ownership, place of formation, state authority, and fraternal organization.

T030–T032

Indemnity & Loss Statistics

Compare expense reimbursement with fixed benefits, and distinguish mortality from morbidity.

Contracts & Agency

Cards T033–T050. Explore the lessons, then practice applying each topic.

T033–T036

Insurance Contract Characteristics

Understand adhesion, aleatory exchange, unilateral promises, and policy conditions.

T037–T040

Forming an Insurance Contract

Connect consideration, agreement, legal capacity, and lawful purpose.

T041–T045

Application Statements & Disclosure

Distinguish representations, warranties, material errors, concealment, and fraud.

T046–T050

Agency, Authority & Duties

Learn waiver, estoppel, the principal-agent relationship, and responsible premium handling.

Applications & Underwriting

Cards T051–T071. Explore the lessons, then practice applying each topic.

T051–T053

Underwriting & Insurable Interest

See how insurers assess applications and why a legitimate interest in the insured matters.

T054–T057

Receipts, Delivery & Replacement

Work through interim coverage, outstanding delivery requirements, and policy replacement.

T058–T061

Risk Classes & Policy Dates

Compare preferred, standard, and rated risks, then understand permitted backdating.

T062–T066

Underwriting Information

Separate medical reports, consumer reports, MIB information, and the producer’s role.

T067–T071

Coverage Options & Sales Documents

Understand guaranteed-insurability options, sales documents, and improper policy origination.

Life Insurance Products

Cards T072–T098. Explore the lessons, then practice applying each topic.

T072–T075

Term Life: Benefits & Duration

Compare ordinary, level, decreasing, and annually renewable term coverage.

T076–T078

Term Renewal, Conversion & Refunds

Distinguish continued term protection, permanent conversion, and premium-return features.

T079–T082

Permanent & Whole Life

Compare lifetime coverage designs and ordinary, limited-pay, and single-premium funding.

T083–T087

Universal, Variable & Indexed Life

Separate premium flexibility, investment subaccounts, interest crediting, and contractual guarantees.

T088–T090

Joint, Survivorship & Credit Life

Identify whose death triggers a benefit and which financial need the policy addresses.

T091–T093

Business Life Insurance

Compare key person protection, cross-purchase and entity buyouts, and split-dollar arrangements.

T094–T098

Life Needs, Ownership & Settlements

Estimate coverage needs, separate the owner from the insured, and distinguish policy sales.

Beneficiaries & Policy Values

Cards T099–T139. Explore the lessons, then practice applying each topic.

T099–T102

Death Benefits & Cash Values

Distinguish the face amount, death benefit, cash value, and net surrender proceeds.

T103–T106

Keeping & Canceling Coverage

Understand lapse, reinstatement, grace periods, and the free look.

T107–T110

Beneficiary Priority & Rights

Separate payment priority from the right to change a beneficiary.

T111–T114

Beneficiary Shares & Survival

Work through family shares, class designations, and common-disaster provisions.

T115–T117

Assigning Policy Rights

Compare absolute transfers with assignments that secure a debt.

T118–T122

Life Policy Contract Provisions

Understand the coverage promise, contestability, suicide clauses, and age adjustments.

T123–T127

Paying Premiums & Accessing Value

Compare payment modes, automatic loans, policy loans, withdrawals, and charges.

T128–T130

Nonforfeiture Choices

Compare cash surrender, reduced paid-up insurance, and extended term.

T131–T134

Participation, Dividends & Additions

See how dividend eligibility, dividend choices, and paid-up additions work.

T135–T139

Settlement Options & Protection

Compare ways to receive proceeds and understand spendthrift restrictions.

Riders

Cards T140–T149. Explore the lessons, then practice applying each topic.

T140–T142

Premium Waiver & Payor Riders

Distinguish premium waivers, monthly-deduction waivers, and juvenile-policy payor benefits.

T143–T145

Accident & Living Benefits

Compare additional accident coverage, scheduled losses, and early death-benefit access.

T146–T149

Added Coverage & Care Riders

Explore temporary coverage, other insureds, inflation adjustments, and long-term care riders.

Annuities

Cards T150–T166. Explore the lessons, then practice applying each topic.

T150–T153

Annuity Foundations

Distinguish annuity types, the annuitant, accumulation, and the move into scheduled income.

T154–T157

Funding Ownership and Payout

Separate premium methods, ownership rights, and the choice of a payout option.

T158–T161

Annuity Income Options

Compare lifetime income, guaranteed payment periods, survivor benefits, and refunds.

T162–T166

Accounts and Index Crediting

Understand insurer accounts and the formulas used to credit index-linked interest.

Taxation & Retirement

Cards T167–T182. Explore the lessons, then practice applying each topic.

T167–T170

Tax Basis and MECs

Trace premiums, earnings, tax basis, and the special distribution rules for MECs.

T171–T174

Retirement Arrangements and IRAs

Compare qualified and nonqualified arrangements and the tax treatment of traditional and Roth IRAs.

T175–T178

Workplace Plans Rollovers and Vesting

Connect workplace retirement plans with rollovers and ownership of employer contributions.

T179–T182

Distributions and Exchanges

Understand required distributions, annuity taxation, and qualifying insurance exchanges.

Health Plans & Medical Costs

Cards T183–T220. Explore the lessons, then practice applying each topic.

T183–T187

Sharing Medical Costs

Work through deductibles, copayments, coinsurance, allowed amounts, and out-of-pocket limits.

T188–T191

Networks and Group Coverage

Understand provider networks, group contracts, certificates, and major medical coverage.

T192–T195

Health Plan Types

Compare HMOs, PPOs, EPOs, and point-of-service plans without confusing their access rules.

T196–T200

Access to Care and Prescriptions

Follow the steps from primary care and referrals to authorization and prescription coverage.

T201–T205

Medical Billing and Coordination

Read an explanation of benefits and determine how multiple plans coordinate payment.

T206–T209

Health Coverage Enrollment

Distinguish preexisting-condition protections, guaranteed issue, and enrollment windows.

T210–T213

Health Savings and Spending Accounts

Separate the health plan from the accounts used to pay medical expenses.

T214–T217

Group Funding and Contributions

Compare employer funding, stop-loss coverage, and employee premium contributions.

T218–T220

Group Eligibility and Conversion

Distinguish enrollment eligibility, waiting periods, and conversion rights.

Health Policy Provisions

Cards T221–T234. Explore the lessons, then practice applying each topic.

T221–T226

Waiting Periods and Renewability

Separate benefit waiting periods from the insurer’s rights to renew coverage or change premiums.

T227–T228

Health Grace and Reinstatement

Learn the standard grace-period schedule and what happens when a lapsed health policy is reinstated.

T229–T232

Health Claim Procedures

Follow a claim from notice and forms through proof of loss and payment.

T233–T234

Claim Defenses and Legal Actions

Understand the time limits on policy defenses and lawsuits under standard health provisions.

Disability Income

Cards T235–T248. Explore the lessons, then practice applying each topic.

T235–T238

Disability Coverage and Occupation

Compare disability income protection and the occupational tests used to define disability.

T239–T242

Disability Benefit Definitions

Distinguish partial, residual, presumptive, and recurrent disability provisions.

T243–T248

Personal and Business Disability Coverage

Compare short- and long-term benefits with coverage for business expenses and ownership obligations.

Public Health Programs

Cards T249–T249. Explore the lessons, then practice applying each topic.

T249–T249

Medicare Overview

Start with Medicare eligibility, the four parts, and the usual initial enrollment window.

Medicare Details & Federal Protections

Cards T250–T266. Explore the lessons, then practice applying each topic.

T250–T253

Original Medicare Benefits

Separate hospital and medical benefits, cost sharing, and the benefit-period clock.

T254–T256

Medicare Plan Choices

Compare Medicare Advantage, prescription coverage, and Medigap without confusing their roles.

T257–T260

Public Assistance & Disability Programs

Distinguish Medicaid, CHIP, SSDI, and SSI by purpose and eligibility.

T261–T262

Continuation & Health Reform

Learn COBRA continuation and the ACA’s core coverage protections.

T263–T266

Federal Plan & Privacy Rules

Identify which law governs health information, employee plans, consumer reports, and financial privacy.

Long-Term Care

Cards T267–T279. Explore the lessons, then practice applying each topic.

T267–T270

Long-Term Care Eligibility

Connect policy benefits with ADLs, cognitive impairment, and benefit triggers.

T271–T276

Care Types & Settings

Compare skilled, custodial, home, day, respite, and hospice care.

T277–T279

Protecting Long-Term Care Benefits

Understand partnership asset protection, inflation options, and retained benefits after lapse.

Supplemental Coverage

Cards T280–T284. Explore the lessons, then practice applying each topic.

T280–T284

Supplemental Health Benefits

Distinguish scheduled cash benefits from medical, dental, and vision expense coverage.

Producer Conduct & Licensing

Cards T285–T298. Explore the lessons, then practice applying each topic.

T285–T287

Appointments, Funds & Inducements

Separate insurer authorization, entrusted funds, and state sales-inducement rules.

T288–T292

Prohibited Sales Practices

Recognize misleading replacement, churning, sliding, defamation, and unlawful discrimination.

T293–T295

Recommendations & Financial Crime

Apply customer-focused recommendation duties and recognize AML responsibilities.

T296–T298

Regulatory Protection & Compliance

Understand guaranty associations, regulatory orders, and continuing education.

Question-Card Explanations

Q001–Q100. Review the printed question, the correct answer, and why each alternative is incorrect.

Q001–Q015

Foundations & Contracts

Q016–Q025

Applications & Conduct

Q026–Q037

Life Products

Q038–Q050

Life Provisions & Riders

Q051–Q064

Annuities & Taxation

Q065–Q078

Health Plans & Costs

Q079–Q090

Health, Disability & LTC

Q091–Q100

Public Programs