エピソード

  • Life Insurance Exam [National] 38 – Credit Life Insurance Explained

    Life Insurance Exam [National] 38 – Credit Life Insurance Explained
    2026/02/13
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam. In this episode you will learn: • Credit life insurance is a specialized form of decreasing term insurance where the face amount matches the outstanding loan balance. • The creditor is the policyowner and beneficiary, while the debtor is the insured party. • The death benefit is paid directly to the lender to extinguish the debt and cannot exceed the amount of the indebtedness. • Lenders are prohibited from requiring borrowers to purchase credit life insurance from a specific insurer as a condition of the loan. • If a debt is paid off early, the insurance coverage must be terminated and any unearned premiums must be returned to the borrower. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分
  • Life Insurance Exam [National] 37 – Group Life Insurance Explained

    Life Insurance Exam [National] 37 – Group Life Insurance Explained
    2026/02/12
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam real estate exam. In this episode you will learn: • The employer acts as the master policyholder while employees receive a certificate of insurance as proof of coverage. • Noncontributory plans are 100% funded by the employer and require 100% participation of eligible employees. • Contributory plans involve employee premium contributions and require a minimum of 75% participation to avoid adverse selection. • The conversion privilege allows employees to switch to individual whole life insurance within 31 days without a medical exam if they leave the group. • Group underwriting focuses on the collective risk characteristics of the group rather than individual health history or physicals. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分
  • Life Insurance Exam [National] 36 – Indexed Universal Life Insurance Explained

    Life Insurance Exam [National] 36 – Indexed Universal Life Insurance Explained
    2026/02/11
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam real estate exam. In this episode you will learn: • The distinction between market-linked interest crediting and direct market investment in IUL policies. • How floors and caps function together to protect principal while limiting maximum upside potential. • The calculation methods for interest including the application of participation rates. • Why IUL requires only a life insurance license and avoids the securities licensing required for variable products. • The transparency and flexibility features inherent in the Universal Life structure of the policy. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分
  • Life Insurance Exam [National] 35 – Variable Universal Life Insurance Explained

    Life Insurance Exam [National] 35 – Variable Universal Life Insurance Explained
    2026/02/10
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam. In this episode you will learn: • How Variable Universal Life (VUL) combines premium flexibility with investment-linked cash value growth. • Why the policyowner assumes all investment risk and the implications of having no guaranteed minimum cash value. • The dual licensing requirements involving both state insurance departments and federal securities regulators like FINRA. • The distinction between Death Benefit Option A and Option B within a flexible variable structure. • The critical requirement for prospectus delivery at the point of solicitation for all variable insurance products. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分
  • Life Insurance Exam [National] 34 – Variable Life Insurance Explained

    Life Insurance Exam [National] 34 – Variable Life Insurance Explained
    2026/02/09
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam life insurance exam. In this episode you will learn: • Variable life insurance requires dual licensing with both a life insurance license and a securities registration like the Series 6 or 7. • The policyowner bears the entire investment risk in a variable life policy as there are no guaranteed minimum cash values. • Premiums in variable life policies are held in a separate account rather than the insurer's general account to allow for market-based subaccount investments. • While cash values fluctuate based on performance, variable life policies typically provide a guaranteed minimum death benefit. • A prospectus must be delivered to a potential client at or before the time of the sales presentation for any variable insurance product. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    5 分
  • Life Insurance Exam [National] 33 – Universal Life Insurance Explained

    Life Insurance Exam [National] 33 – Universal Life Insurance Explained
    2026/02/08
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam life insurance exam. In this episode you will learn: • Universal Life is an unbundled product separating mortality, expenses, and interest. • Differences between Death Benefit Option A (level) and Option B (increasing). • Premium flexibility allowing for target, minimum, or skipped payments based on cash value. • The corridor requirement that ensures the policy maintains its tax-deferred status. • Why increasing the death benefit requires new evidence of insurability. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    5 分
  • Life Insurance Exam [National] 32 – Limited Pay and Single Premium Whole Life Explained

    Life Insurance Exam [National] 32 – Limited Pay and Single Premium Whole Life Explained
    2026/02/07
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam. In this episode you will learn: • Limited pay whole life offers permanent protection until age 100 while allowing the owner to stop paying premiums after a set number of years. • Premiums for limited pay policies are higher than straight life policies because the total cost is funded over a shorter timeframe. • Single premium whole life creates immediate cash value but is classified as a Modified Endowment Contract due to failing the seven-pay test. • Modified Endowment Contracts lose their tax-favored status for withdrawals, which are instead taxed as last-in-first-out and may incur penalties. • Regardless of how quickly premiums are paid, all whole life policies endow or mature when the cash value equals the face amount at age 100. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分
  • Life Insurance Exam [National] 31 – Whole Life Insurance Explained

    Life Insurance Exam [National] 31 – Whole Life Insurance Explained
    2026/02/06
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam insurance exam. In this episode you will learn: • Whole life provides permanent protection with level premiums and a level death benefit throughout the life of the policy. • Cash value acts as a living benefit that grows tax-deferred and can be accessed via policy loans. • Policies mature or endow when the cash value equals the death benefit, traditionally at age 100 or 121. • Nonforfeiture options like extended term and reduced paid-up insurance protect the policyowner's equity if premiums stop. • The insurer's net amount at risk decreases over time as the cash value within the policy increases. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
    続きを読む 一部表示
    4 分