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Massachusetts Life Insurance — Requirements & Free Practice

US-MA · License preparation

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Licenses, application pathways and examination requirements

Each license and applicant pathway has its own requirements and exemptions. Choosing practice questions does not determine your eligibility.

bank or credit union insurance producer license

The financial-institution producer license for Life sales, including covered lenders; individual sellers, subsidiaries, affiliates and third parties must hold their own applicable producer licenses.

Licensing authority: division of insurance · Application information

Initial federally chartered institution producer licensure
No examination is required for this applicant pathway.
Applicant
Federally chartered bank or credit union operating in Massachusetts.
Application
Submit the institution’s producer license application, required plan, supporting documents and the $75 nonrefundable fee.
Consumer protection
The plan must address complaint resolution, controls, customer-information safeguards and compliance with applicable insurance-sales protections.
Licensed sellers
Identify the Massachusetts producer license number and relevant Life authority of each individual seller and the licensed subsidiary, affiliate or third party.
Life scope
Request Life insurance sales authority; the institution may act through licensed employees, a subsidiary, affiliate or unaffiliated licensed third-party producer.
Plan
Submit the plan of operation directly to DOI together with a statement of compliance with all federal conditions governing insurance sales.
Premises
If a physical-separation waiver is sought, obtain it from the appropriate regulator and supply it with the application.

Official no-examination sources

Effective from 2026-09-22.

Nonresident institution licensure when located wholly outside Massachusetts
No examination is required for this applicant pathway.
Applicant
A bank, federal bank or federal credit union located wholly outside Massachusetts and authorized to engage in insurance sales.
Application
Apply for nonresident institution producer licensure, submit the required uniform application and pay applicable statutory fees; maintain Massachusetts-licensed producers for the requested Life sales.
Consumer protection
The plan must address complaint resolution, controls, customer-information safeguards and compliance with applicable insurance-sales protections.
Home license
Currently licensed and in good standing in the home jurisdiction for Life authority; the existing license is an applicant condition.
Licensed sellers
Identify the Massachusetts producer license number and relevant Life authority of each individual seller and the licensed subsidiary, affiliate or third party.
Life scope
Request Life insurance sales authority; the institution may act through licensed employees, a subsidiary, affiliate or unaffiliated licensed third-party producer.
Premises
If a physical-separation waiver is sought, obtain it from the appropriate regulator and supply it with the application.
Reciprocity
The home jurisdiction awards nonresident producer licenses to Massachusetts residents on the same basis.

Official no-examination sources

Effective from 2026-09-22.

Annual bank, credit union or covered lender producer renewal
No examination is required for this applicant pathway.
Approved plan
Report material changes and file amended plans as required; supply any physical-separation waiver request.
License
Hold the institution producer license with Life authority.
Licensed sellers
Identify the Massachusetts producer license number and relevant Life authority of each individual seller and the licensed subsidiary, affiliate or third party.
Renewal
File the annual institution renewal application and pay the $75 renewal fee by the printed license expiration date.

Official no-examination sources

Effective from 2026-09-22.

Initial institution licensure with Division of Banks approval
No examination is required for this applicant pathway.
Applicant
Massachusetts-chartered bank or credit union, or a covered Massachusetts branch, requiring Division of Banks approval.
Application
Submit the institution’s producer license application, required plan, supporting documents and the $75 nonrefundable fee.
Consumer protection
The plan must address complaint resolution, controls, customer-information safeguards and compliance with applicable insurance-sales protections.
Eligibility
Meet the applicable financial and managerial, adequate capital, not-troubled-condition, policy and procedure requirements and at least a satisfactory CRA rating under 209 CMR 49.04 and 49.05.
Licensed sellers
Identify the Massachusetts producer license number and relevant Life authority of each individual seller and the licensed subsidiary, affiliate or third party.
Life scope
Request Life insurance sales authority; the institution may act through licensed employees, a subsidiary, affiliate or unaffiliated licensed third-party producer.
Plan
Obtain Division of Banks approval of the plan of operation and submit the approved plan with the DOI application.
Premises
If a physical-separation waiver is sought, obtain it from the appropriate regulator and supply it with the application.

Official no-examination sources

Effective from 2026-09-22.

Initial producer licensure of a covered lender
No examination is required for this applicant pathway.
Applicant
Covered Massachusetts small-loan company, mortgage lender, mortgage broker or mortgagee seeking insurance-sales authority.
Application
Submit the institution’s producer license application, required plan, supporting documents and the $75 nonrefundable fee.
Consumer protection
The plan must address complaint resolution, controls, customer-information safeguards and compliance with applicable insurance-sales protections.
Eligibility
Meet applicable financial/managerial and policy requirements, statutory or regulatory net-worth requirements and, if applicable, at least a satisfactory CRA rating; obtain Division of Banks approval.
Licensed sellers
Identify the Massachusetts producer license number and relevant Life authority of each individual seller and the licensed subsidiary, affiliate or third party.
Life scope
Request Life insurance sales authority; the institution may act through licensed employees, a subsidiary, affiliate or unaffiliated licensed third-party producer.
Plan
Obtain Division of Banks approval of the plan of operation and submit the approved plan with the DOI application.
Premises
If a physical-separation waiver is sought, obtain it from the appropriate regulator and supply it with the application.

Official no-examination sources

Effective from 2026-09-22.

Business Entity Insurance Producer — Life

Insurance producer entity licensed for Life through already licensed affiliated producers.

Licensing authority: Division of Insurance · Application information

Addition of Life authority to an existing business entity license
No examination is required for this applicant pathway.
Application
Submit the NIPR producer-licensing application selecting the Life authority to be added; the DOI states selecting an additional line may alter the entity license.
Fee
Pay the required entity or member transaction fee.
License
Hold an existing Massachusetts business entity producer license.
Licensed members
Maintain at least one Massachusetts-licensed affiliated producer with Life authority and at least one designated responsible licensed producer.

Official no-examination sources

Effective from 2026-09-22.

Nonresident business entity reciprocal initial licensure
No examination is required for this applicant pathway.
Applicant
A corporation, LLC, LLP or other business entity applying for Life producer authority.
Application
Submit the uniform business entity application and fees, satisfy applicable DOI name/registration/document requirements, and designate Massachusetts-licensed producers holding Life authority.
Corporation
Corporations must comply with § 174, including filing the applications for officers/directors specified in the license and certified organizational documents.
Fees
Pay the statutory business-entity licensing fees.
Fitness
Subject to the denial grounds in M.G.L. c. 175, § 162R.
Home license
Currently licensed and in good standing in the home jurisdiction for Life authority; the existing license is an applicant condition.
Life authority
Maintain at least one affiliated member licensed for Life authority; members collectively may supply the entity’s lines of authority.
Reciprocity
The home jurisdiction awards nonresident producer licenses to Massachusetts residents on the same basis.
Responsible producer
Designate a Massachusetts-licensed producer responsible for compliance; all affiliated members must hold Massachusetts producer licenses, regardless of residency.

Official no-examination sources

Effective from 2026-09-22.

Business entity new initial application after expiration
No examination is required for this applicant pathway.
Applicant
A corporation, LLC, LLP or other business entity applying for Life producer authority.
Application
Apply through NIPR; obtain DOI entity-name approval, register with the Massachusetts Secretary of State and submit the required certified registration and good-standing documents.
Corporation
Corporations must comply with § 174, including filing the applications for officers/directors specified in the license and certified organizational documents.
Expiration
The entity license expired before renewal; the DOI requires a new initial application through NIPR instead of a renewal application.
Fees
Pay the statutory business-entity licensing fees.
Life authority
Maintain at least one affiliated member licensed for Life authority; members collectively may supply the entity’s lines of authority.
Responsible producer
Designate a Massachusetts-licensed producer responsible for compliance; all affiliated members must hold Massachusetts producer licenses, regardless of residency.

Official no-examination sources

Effective from 2026-09-22.

Annual business entity renewal
No examination is required for this applicant pathway.
Deadline
Renew through NIPR before expiration; the DOI states there is no late-renewal grace period for business entities.
Fees
Pay required renewal fees.
License
Hold a business entity producer license with Life authority.
Licensed members
Maintain the designated responsible producer and at least one affiliated Massachusetts-licensed member with Life authority.
Term
Business entity producer licenses have a one-year term.

Official no-examination sources

Effective from 2026-09-22.

Resident business entity initial licensure
No examination is required for this applicant pathway.
Applicant
A corporation, LLC, LLP or other business entity applying for Life producer authority.
Application
Apply through NIPR; obtain DOI entity-name approval, register with the Massachusetts Secretary of State and submit the required certified registration and good-standing documents.
Corporation
Corporations must comply with § 174, including filing the applications for officers/directors specified in the license and certified organizational documents.
Fees
Pay the statutory business-entity licensing fees.
Life authority
Maintain at least one affiliated member licensed for Life authority; members collectively may supply the entity’s lines of authority.
Responsible producer
Designate a Massachusetts-licensed producer responsible for compliance; all affiliated members must hold Massachusetts producer licenses, regardless of residency.

Official no-examination sources

Effective from 2026-09-22.

Individual Insurance Producer

The single individual producer license with Life authority for life insurance and annuity products. Variable Life and Variable Annuity authority may be added to that license.

Licensing authority: Massachusetts Division of Insurance · Application information

Resident addition of Life authority by examination
Producer - Life
Age
At least 18 years of age.
Annuity training
To sell annuity products, complete the approved one-time annuity suitability program equivalent to at least four classroom hours under 211 CMR 96.00, as stated by the DOI.
Application
Submit a truthful and complete uniform application, requested verification documents and the required statutory fees through the DOI licensing process.
Background documents
Provide required supporting documents for affirmative background answers, including a signed explanation and final court or administrative records, and other documentation the DOI requests.
Education
Meet any applicable commissioner-required prelicensing education for Life authority.
Exam
Pass the Massachusetts Producer - Life examination before applying; this is one examination covering both general knowledge and Massachusetts law.
Existing license
Hold a Massachusetts individual producer license and apply through NIPR to add Life authority.
Fitness
Must not have committed an act that constitutes a denial, suspension or revocation ground under M.G.L. c. 175, § 162R.
Residency
Massachusetts resident applying for Life authority.
Resident addition of Life authority with the same line prior license exemption
No examination is required for this applicant pathway.
Application
Complete the resident licensing application and pay required fees; retain the applicable § 162L eligibility and disclosure requirements.
Board instruction
The DOI Individual Insurance Producer page states: “Schedule and pass the required examination through Pearson Professional Assessments.” The express exemption in § 162O(a) controls this qualifying route.
Existing license
Already hold a Massachusetts individual producer license and apply to add the same Life authority previously held in the qualifying other jurisdiction.
License status
Currently licensed there, or the Massachusetts application is received within 90 days after cancellation and good standing is certified by that jurisdiction or established in the NAIC producer database.
Prior license
Previously licensed for the same Life authority in another jurisdiction; no prior examination score is a requirement leaf.

Official no-examination sources

Effective from 2026-09-22.

Addition of Variable Life and Variable Annuity authority
No examination is required for this applicant pathway.
Application
Apply through NIPR to add the Variable Life and Variable Annuity line.
Existing authority
Hold an active Life line of authority on the existing Massachusetts producer license.
Securities registration
Provide a valid FINRA/CRD number; securities registration is an applicant condition, not an examination leaf of this profession.

Official no-examination sources

Effective from 2026-09-22.

Reactivation after a continuing education suspension
No examination is required for this applicant pathway.
Compliance
Demonstrate to the commissioner that all continuing-education requirements and other applicable licensing laws are satisfied.
Extension
For good cause the commissioner may extend the time to satisfy education requirements.
License
The existing Life producer license is suspended for continuing-education noncompliance under § 177E(H).
Penalty
Satisfy applicable disciplinary orders and monetary penalties; § 177E(H) permits fines as well as suspension.

Official no-examination sources

Effective from 2026-09-22.

Nonresident initial licensure by reciprocity
No examination is required for this applicant pathway.
Application
Submit the home-jurisdiction licensing application or a completed uniform application and pay the required statutory fees.
Board instruction
The DOI Individual Insurance Producer page states: “Schedule and pass the required examination through Pearson Professional Assessments.” The route-specific waiver in §§ 162N and 162U controls this reciprocal route.
Fitness
Subject to the denial grounds in M.G.L. c. 175, § 162R.
Home license
Currently licensed and in good standing in the home jurisdiction for Life authority; the existing license is an applicant condition.
Reciprocity
The home jurisdiction awards nonresident producer licenses to Massachusetts residents on the same basis.

Official no-examination sources

Effective from 2026-09-22.

Nonresident individual reinstatement within 12 months
No examination is required for this applicant pathway.
Education
Home-jurisdiction continuing education satisfies Massachusetts requirements when the home jurisdiction recognizes Massachusetts producer education on the same basis (§ 162U(b)); otherwise satisfy applicable Massachusetts requirements.
Fees
Pay the required renewal fees by the due date; individual licenses have a three-year term.
Lapse
The individual license has lapsed; application to reinstate is within 12 months of the renewal fee due date.
License
Hold the Massachusetts nonresident individual producer license and maintain the reciprocal home-jurisdiction license.
Penalty
Pay a penalty of double the unpaid renewal fee for any renewal fee received after the due date.
Waiver
A producer unable to comply because of military service or another extenuating circumstance may request waiver of renewal procedures, any applicable examination requirement or sanctions under § 162M(d); approval is discretionary.

Official no-examination sources

Effective from 2026-09-22.

Nonresident ordinary renewal
No examination is required for this applicant pathway.
Education
Home-jurisdiction continuing education satisfies Massachusetts requirements when the home jurisdiction recognizes Massachusetts producer education on the same basis (§ 162U(b)); otherwise satisfy applicable Massachusetts requirements.
Fees
Pay the required renewal fees by the due date; individual licenses have a three-year term.
License
Hold the Massachusetts nonresident individual producer license and maintain the reciprocal home-jurisdiction license.
Waiver
A producer unable to comply because of military service or another extenuating circumstance may request waiver of renewal procedures, any applicable examination requirement or sanctions under § 162M(d); approval is discretionary.

Official no-examination sources

Effective from 2026-09-22.

Resident initial licensure by examination
Producer - Life
Age
At least 18 years of age.
Annuity training
To sell annuity products, complete the approved one-time annuity suitability program equivalent to at least four classroom hours under 211 CMR 96.00, as stated by the DOI.
Application
Submit a truthful and complete uniform application, requested verification documents and the required statutory fees through the DOI licensing process.
Background documents
Provide required supporting documents for affirmative background answers, including a signed explanation and final court or administrative records, and other documentation the DOI requests.
Education
A prelicensing course of study is required if the commissioner requires it for the requested line.
Exam
Pass the Massachusetts Producer - Life examination before applying; this is one examination covering both general knowledge and Massachusetts law.
Fitness
Must not have committed an act that constitutes a denial, suspension or revocation ground under M.G.L. c. 175, § 162R.
Residency
Massachusetts resident applying for Life authority.
Resident initial licensure based on a qualifying prior same line license
No examination is required for this applicant pathway.
Application
Complete the resident licensing application and pay required fees; retain the applicable § 162L eligibility and disclosure requirements.
Board instruction
The DOI Individual Insurance Producer page states: “Schedule and pass the required examination through Pearson Professional Assessments.” The express exemption in § 162O(a) controls this qualifying route.
License status
Currently licensed there, or the Massachusetts application is received within 90 days after cancellation and good standing is certified by that jurisdiction or established in the NAIC producer database.
Prior license
Previously licensed for the same Life authority in another jurisdiction; no prior examination score is a requirement leaf.

Official no-examination sources

Effective from 2026-09-22.

Resident individual reinstatement within 12 months
No examination is required for this applicant pathway.
Education
Complete 60 approved continuing education hours before first renewal and 45 hours before each subsequent 36-month renewal, including three ethics hours, unless an official exemption applies.
Education exemptions
Apply the exemptions in 211 CMR 50.03(2), including qualifying pre-April 4, 1983 licensees and holders of resident licenses for which an examination is not required.
Fees
Pay the required renewal fee by the due date; individual licenses have a three-year term.
Lapse
The individual license has lapsed; application to reinstate is within 12 months of the renewal fee due date.
License
Hold an existing Massachusetts individual producer license with Life authority.
Penalty
Pay a penalty of double the unpaid renewal fee for any renewal fee received after the due date.
Waiver
A producer unable to comply because of military service or another extenuating circumstance may request waiver of renewal procedures, any applicable examination requirement or sanctions under § 162M(d); approval is discretionary.

Official no-examination sources

Effective from 2026-09-22.

Resident reapplication after the 12 month reinstatement period
Producer - Life
Age
At least 18 years of age.
Annuity training
To sell annuity products, complete the approved one-time annuity suitability program equivalent to at least four classroom hours under 211 CMR 96.00, as stated by the DOI.
Application
Submit a truthful and complete uniform application, requested verification documents and the required statutory fees through the DOI licensing process.
Background documents
Provide required supporting documents for affirmative background answers, including a signed explanation and final court or administrative records, and other documentation the DOI requests.
Education
A prelicensing course of study is required if the commissioner requires it for the requested line.
Exam
Pass the Massachusetts Producer - Life examination before applying; this is one examination covering both general knowledge and Massachusetts law.
Fitness
Must not have committed an act that constitutes a denial, suspension or revocation ground under M.G.L. c. 175, § 162R.
Lapse
Former resident Life producer license has lapsed for more than 12 months, outside the § 162M(c) no-examination reinstatement period.
Reapplication
The default resident application examination under § 162K applies unless the applicant qualifies for § 162O; that separate exempt pathway is retained.
Residency
Massachusetts resident applying for Life authority.
Waiver
A producer unable to comply because of military service or another extenuating circumstance may request waiver of renewal procedures, any applicable examination requirement or sanctions under § 162M(d); approval is discretionary.
Resident initial licensure after moving to Massachusetts
No examination is required for this applicant pathway.
Application
Complete the resident licensing application and pay required fees; retain the applicable § 162L eligibility and disclosure requirements.
Board instruction
The DOI Individual Insurance Producer page states: “Schedule and pass the required examination through Pearson Professional Assessments.” The express new-resident exemption in § 162O(b) controls this qualifying route.
License conversion
The DOI states the former resident license must be canceled and verifiable in the NIPR producer database, and the new application must contain the current residential address.
License status
Currently licensed there, or the Massachusetts application is received within 90 days after cancellation and good standing is certified by that jurisdiction or established in the NAIC producer database.
Prior license
Previously licensed for the same Life authority in another jurisdiction; no prior examination score is a requirement leaf.
Regulatory exception
§ 162O(b) permits a different examination requirement only when the commissioner determines otherwise by regulation. The current Life examination implementation supplies the ordinary examination; the DOI conversion instructions supply the prior-license conversion process.
Residence change
Previously licensed producer moves to Massachusetts and applies within 90 days of establishing legal residence.

Official no-examination sources

Effective from 2026-09-22.

Resident ordinary renewal
No examination is required for this applicant pathway.
Education
Complete 60 approved continuing education hours before first renewal and 45 hours before each subsequent 36-month renewal, including three ethics hours, unless an official exemption applies.
Education exemptions
Apply the exemptions in 211 CMR 50.03(2), including qualifying pre-April 4, 1983 licensees and holders of resident licenses for which an examination is not required.
Fees
Pay the required renewal fee by the due date; individual licenses have a three-year term.
License
Hold an existing Massachusetts individual producer license with Life authority.
Waiver
A producer unable to comply because of military service or another extenuating circumstance may request waiver of renewal procedures, any applicable examination requirement or sanctions under § 162M(d); approval is discretionary.

Official no-examination sources

Effective from 2026-09-22.

temporary insurance producer license

Temporary servicing authority, at the commissioner’s discretion, for no more than 180 days.

Licensing authority: Massachusetts Division of Insurance · Application information

Temporary servicing license after a designated producer’s death or disability
No examination is required for this applicant pathway.
Applicant
Member or employee of a licensed producer entity after the death or disability of the individual designated in its entity application or license.
Discretion
The commissioner must determine the temporary license is necessary to service the insurance business.
Duration
No more than 180 days.
Life scope
Authority is for the existing Life insurance business and may be limited by commissioner order.
Sponsor
The commissioner may require a suitable licensed producer or insurer sponsor who assumes responsibility, and may impose similar protective conditions.
Termination
The commissioner may revoke the temporary license when insureds or the public are endangered; it cannot continue after disposal of the business.

Official no-examination sources

Effective from 2026-09-22.

Temporary servicing license for an active service producer’s designee
No examination is required for this applicant pathway.
Applicant
Designee of a licensed producer entering active service in the United States armed forces.
Discretion
The commissioner must determine the temporary license is necessary to service the insurance business.
Duration
No more than 180 days.
Life scope
Authority is for the existing Life insurance business and may be limited by commissioner order.
Sponsor
The commissioner may require a suitable licensed producer or insurer sponsor who assumes responsibility, and may impose similar protective conditions.
Termination
The commissioner may revoke the temporary license when insureds or the public are endangered; it cannot continue after disposal of the business.

Official no-examination sources

Effective from 2026-09-22.

Temporary servicing license in another public interest circumstance
No examination is required for this applicant pathway.
Applicant
The commissioner determines another circumstance where issuing a temporary license best serves the public interest.
Discretion
The commissioner must determine the temporary license is necessary to service the insurance business.
Duration
No more than 180 days.
Life scope
Authority is for the existing Life insurance business and may be limited by commissioner order.
Sponsor
The commissioner may require a suitable licensed producer or insurer sponsor who assumes responsibility, and may impose similar protective conditions.
Termination
The commissioner may revoke the temporary license when insureds or the public are endangered; it cannot continue after disposal of the business.

Official no-examination sources

Effective from 2026-09-22.

Temporary servicing license for a surviving spouse or personal representative
No examination is required for this applicant pathway.
Applicant
Surviving spouse or court-appointed personal representative of a licensed producer who dies or becomes mentally or physically disabled; servicing is for sale of the business, recovery or return of the producer, or training/licensing replacement personnel.
Discretion
The commissioner must determine the temporary license is necessary to service the insurance business.
Duration
No more than 180 days.
Life scope
Authority is for the existing Life insurance business and may be limited by commissioner order.
Sponsor
The commissioner may require a suitable licensed producer or insurer sponsor who assumes responsibility, and may impose similar protective conditions.
Termination
The commissioner may revoke the temporary license when insureds or the public are endangered; it cannot continue after disposal of the business.

Official no-examination sources

Effective from 2026-09-22.

Producer - Life

Provider
Pearson Professional Assessments
Format
In-person computer-based multiple-choice examination; English and Spanish delivery are offered.
Exam questions
80 scored questions and 10 unscored pretest questions: general knowledge 50 scored plus 5 pretest; Massachusetts specific 30 scored plus 5 pretest. Published section allocations are 15, 15, 12, 8, 15, and 15 scored questions respectively.
Passing score
70 on the equated scaled-score scale; not a raw percentage.
Exam fee
$37
Examination outline
  • General Knowledge — I. TYPES OF POLICIES
    • A. Traditional whole life products
    • A. Traditional whole life products / 1. Ordinary whole life
    • A. Traditional whole life products / 2. Limited-pay and single-premium life
    • B. Interest/market-sensitive/adjustable life products
    • B. Interest/market-sensitive/adjustable life products / 1. Universal life
    • B. Interest/market-sensitive/adjustable life products / 2. Variable whole life
    • B. Interest/market-sensitive/adjustable life products / 3. Variable universal life
    • B. Interest/market-sensitive/adjustable life products / 4. Interest-sensitive whole life
    • B. Interest/market-sensitive/adjustable life products / 5. Indexed life
    • C. Term life
    • C. Term life / 1. Types
    • C. Term life / 1.a. Level
    • C. Term life / 1.b. Decreasing
    • C. Term life / 1.c. Return of premium
    • C. Term life / 1.d. Annually renewable
    • C. Term life / 2. Special features
    • C. Term life / 2.a. Renewable
    • C. Term life / 2.b. Convertible
    • D. Annuities
    • D. Annuities / 1. Single and flexible premium
    • D. Annuities / 2. Immediate and deferred
    • D. Annuities / 3. Fixed and variable
    • D. Annuities / 4. Indexed
    • D. Annuities / 5. Accumulation and Annuity Periods
    • D. Annuities / 6. Payout options
    • E. Combination plans and variations
    • E. Combination plans and variations / 1. Joint life (first to die)
    • E. Combination plans and variations / 2. Survivorship life (second to die)
  • General Knowledge — II. POLICY RIDERS, PROVISIONS, OPTIONS, AND EXCLUSIONS
    • A. Policy riders
    • A. Policy riders / 1. Waiver of premium and waiver of monthly deduction
    • A. Policy riders / 2. Guaranteed insurability
    • A. Policy riders / 3. Payor benefit
    • A. Policy riders / 4. Accidental death and/or accidental death and dismemberment
    • A. Policy riders / 5. Term riders
    • A. Policy riders / 6. Other insureds
    • A. Policy riders / 7. Long term care
    • A. Policy riders / 8. Return of premium
    • A. Policy riders / 9. Disability
    • A. Policy riders / 10. Cost of Living
    • B. Policy provisions and options
    • B. Policy provisions and options / 1. Entire contract
    • B. Policy provisions and options / 2. Insuring clause
    • B. Policy provisions and options / 3. Free look
    • B. Policy provisions and options / 4. Consideration
    • B. Policy provisions and options / 5. Owner’s rights
    • B. Policy provisions and options / 6. Beneficiary designations
    • B. Policy provisions and options / 6.a. Primary and contingent
    • B. Policy provisions and options / 6.b. Revocable and irrevocable
    • B. Policy provisions and options / 6.c. Common disaster
    • B. Policy provisions and options / 6.d. Minor beneficiaries
    • B. Policy provisions and options / 6.e. Designation by class
    • B. Policy provisions and options / 7. Premium Payment
    • B. Policy provisions and options / 7.a. Modes
    • B. Policy provisions and options / 7.b. Grace period
    • B. Policy provisions and options / 7.c. Automatic premium loan
    • B. Policy provisions and options / 7.d. Level or flexible
    • B. Policy provisions and options / 8. Reinstatement
    • B. Policy provisions and options / 9. Policy loans, withdrawals, partial surrenders
    • B. Policy provisions and options / 10. Non-forfeiture options
    • B. Policy provisions and options / 11. Dividends and dividend options (e.g. participating, non-participating)
    • B. Policy provisions and options / 12. Incontestability
    • B. Policy provisions and options / 13. Assignments
    • B. Policy provisions and options / 14. Suicide
    • B. Policy provisions and options / 15. Misstatement of age and gender
    • B. Policy provisions and options / 16. Settlement options
    • B. Policy provisions and options / 17. Accelerated death benefits
    • C. Policy exclusions
    • C. Policy exclusions / 1. War
    • C. Policy exclusions / 2. Aviation
    • C. Policy exclusions / 3. Dangerous Occupation
  • General Knowledge — III. COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICY
    • A. Completing the application
    • A. Completing the application / 1. Required signatures
    • A. Completing the application / 2. Changes in the application
    • A. Completing the application / 3. Consequences of incomplete applications
    • A. Completing the application / 4. Warranties and representations
    • A. Completing the application / 5. Collecting the initial premium and issuing the receipt
    • A. Completing the application / 6. Replacement
    • A. Completing the application / 7. Disclosures at point of sale (e.g., HIPAA, HIV consent)
    • A. Completing the application / 8. USA PATRIOT Act/anti-money laundering
    • A. Completing the application / 9. Gramm-Leach-Bliley Act (GLBA) Privacy
    • B. Underwriting
    • B. Underwriting / 1. Insurable interest
    • B. Underwriting / 2. Medical information and consumer reports
    • B. Underwriting / 3. Fair Credit Reporting Act
    • B. Underwriting / 4. Risk classification
    • B. Underwriting / 5. Stranger/Investor-owned life insurance (STOLI/IOLI)
    • C. Delivering the policy
    • C. Delivering the policy / 1. When coverage begins
    • C. Delivering the policy / 2. Explaining the policy and its provisions, riders, exclusions, and ratings to the client
    • D. Contract law
    • D. Contract law / 1. Elements of a contract
    • D. Contract law / 1.a. Consideration
    • D. Contract law / 1.b. Offer and Acceptance
    • D. Contract law / 1.c. Competent parties
    • D. Contract law / 1.d. Legal purpose
    • D. Contract law / 2. Unique aspects of the insurance contract
    • D. Contract law / 2.a. Conditional
    • D. Contract law / 2.b. Unilateral
    • D. Contract law / 2.c. Adhesion
    • D. Contract law / 2.d. Aleatory
  • General Knowledge — IV. RETIREMENT AND OTHER INSURANCE CONCEPTS
    • A. Third-party ownership
    • B. Life Settlements
    • C. Group life insurance
    • C. Group life insurance / 1. Conversion privilege
    • C. Group life insurance / 2. Contributory vs. noncontributory
    • D. Retirement plans
    • D. Retirement plans / 1. Qualified plans
    • D. Retirement plans / 2. Nonqualified plans
    • E. Life insurance needs analysis/suitability
    • E. Life insurance needs analysis/suitability / 1. Personal insurance needs
    • E. Life insurance needs analysis/suitability / 2. Business insurance needs
    • E. Life insurance needs analysis/suitability / 2.a. Key person
    • E. Life insurance needs analysis/suitability / 2.b. Buy sell
    • F. Social Security benefits
    • G. Tax treatment of insurance premiums, proceeds, and dividends
    • G. Tax treatment of insurance premiums, proceeds, and dividends / 1. Individual life
    • G. Tax treatment of insurance premiums, proceeds, and dividends / 2. Group life
    • G. Tax treatment of insurance premiums, proceeds, and dividends / 3. Modified Endowment Contracts (MECs)
  • Massachusetts Specific — I. MASSACHUSETTS LAWS AND RULES PERTINENT TO ALL LINES OF INSURANCE
    • A. Licensing
    • A. Licensing / 1. Process
    • A. Licensing / 2. Types of licenses
    • A. Licensing / 2.a. Producers
    • A. Licensing / 2.b. Business entity producers
    • A. Licensing / 2.c. Nonresident producers
    • A. Licensing / 2.d. Temporary
    • A. Licensing / 2.e. Advisers
    • A. Licensing / 2.f. Reinsurance intermediaries
    • A. Licensing / 2.g. Life settlement broker
    • A. Licensing / 2.h. Exemptions
    • A. Licensing / 3. Maintenance and duration
    • A. Licensing / 3.a. Reinstatement and renewal
    • A. Licensing / 3.b. Address change
    • A. Licensing / 3.c. Reporting of actions
    • A. Licensing / 3.d. Assumed names
    • A. Licensing / 3.e. Continuing education requirements, exemptions and penalties
    • A. Licensing / 4. Disciplinary actions
    • A. Licensing / 4.a. Cease and desist order
    • A. Licensing / 4.b. Hearings
    • A. Licensing / 4.c. Probation, suspension, revocation, refusal to issue or renew
    • A. Licensing / 4.d. Penalties and fines
    • B. State Regulation
    • B. State Regulation / 1. Commissioner’s general duties and powers
    • B. State Regulation / 2. Company regulation
    • B. State Regulation / 2.a. Certificate of authority
    • B. State Regulation / 2.b. Solvency
    • B. State Regulation / 2.c. Rates
    • B. State Regulation / 2.d. Policy forms
    • B. State Regulation / 2.e. Examination of books and records
    • B. State Regulation / 2.f. Producer appointments
    • B. State Regulation / 2.g. Termination of producer appointment
    • B. State Regulation / 2.h. Payment of claims
    • B. State Regulation / 3. Producer regulation
    • B. State Regulation / 3.a. Impersonation
    • B. State Regulation / 3.b. Larceny
    • B. State Regulation / 3.c. Unlicensed persons compensation
    • B. State Regulation / 3.d. Commissions
    • B. State Regulation / 3.e. Records Retention
    • B. State Regulation / 3.f. Insurance transactions
    • B. State Regulation / 4. Unfair or deceptive practices
    • B. State Regulation / 4.a. Misrepresentation
    • B. State Regulation / 4.b. False advertising
    • B. State Regulation / 4.c. Defamation of insurer
    • B. State Regulation / 4.d. Boycott, coercion, intimidation
    • B. State Regulation / 4.e. False financial statements
    • B. State Regulation / 4.f. Failure to maintain a complaint record
    • B. State Regulation / 4.g. Unfair discrimination
    • B. State Regulation / 4.h. Unfair claims settlement practices
    • B. State Regulation / 4.i. Rebating
    • B. State Regulation / 5. Insurance fraud regulation
    • B. State Regulation / 6. Insurance Information and Privacy Protection
    • B. State Regulation / 7. Types of insurers
    • B. State Regulation / 7.a. Foreign, alien, domestic
    • B. State Regulation / 7.b. Authorized and unauthorized insurers
    • B. State Regulation / 7.c. Stock and mutual insurers
  • Massachusetts Specific — II. MASSACHUSETTS LAWS AND REGULATIONS PERTINENT TO LIFE INSURANCE
    • A. Life and Health Insurance Guaranty Association Law
    • B. Producer Responsibilities
    • B. Producer Responsibilities / 1. Solicitation and sales presentations
    • B. Producer Responsibilities / 1.a. Policy summary
    • B. Producer Responsibilities / 1.b. Buyer's guide
    • B. Producer Responsibilities / 1.c. Life insurance policy cost comparison methods
    • B. Producer Responsibilities / 1.d. Replacement
    • B. Producer Responsibilities / 1.e. Use and disclosure of insurance information
    • B. Producer Responsibilities / 2. Field Underwriting
    • B. Producer Responsibilities / 2.a. Notice of information practices
    • B. Producer Responsibilities / 2.b. Application procedures including backdating
    • C. Individual underwriting by the insurer
    • C. Individual underwriting by the insurer / 1. Information sources and regulation
    • C. Individual underwriting by the insurer / 1.a. Investigative consumer (inspection) report
    • C. Individual underwriting by the insurer / 1.b. Medical examinations and lab tests including HIV
    • C. Individual underwriting by the insurer / 2. Selection criteria and unfair discrimination
    • D. Life Insurance Policy Provisions, Options, and Riders
    • D. Life Insurance Policy Provisions, Options, and Riders / 1. Standard Provision
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.a. Ownership
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.b. Assignability
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.c. Entire contract
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.d. Right to examine (free look)
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.e. Grace period
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.f. Reinstatement
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.g. Incontestability
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.h. Misstatement of age
    • D. Life Insurance Policy Provisions, Options, and Riders / 1.i. Interest on insurance proceeds
    • D. Life Insurance Policy Provisions, Options, and Riders / 2. Nonforfeiture options
    • D. Life Insurance Policy Provisions, Options, and Riders / 2.a. Cash surrender value
    • D. Life Insurance Policy Provisions, Options, and Riders / 3. Policy loan and withdrawal options
    • D. Life Insurance Policy Provisions, Options, and Riders / 3.a. Cash loans
    • D. Life Insurance Policy Provisions, Options, and Riders / 4. Disability riders
    • D. Life Insurance Policy Provisions, Options, and Riders / 4.a. Waiver of premium/waiver of stipulated premium (universal life)
    • D. Life Insurance Policy Provisions, Options, and Riders / 5. Living benefit provisions/riders
    • D. Life Insurance Policy Provisions, Options, and Riders / 5.a. Accelerated
    • D. Life Insurance Policy Provisions, Options, and Riders / 5.b. Minimum standards
    • D. Life Insurance Policy Provisions, Options, and Riders / 5.c. Long-term care riders
    • D. Life Insurance Policy Provisions, Options, and Riders / 5.d. Children's term rider
    • D. Life Insurance Policy Provisions, Options, and Riders / 5.e. Accidental death
    • D. Life Insurance Policy Provisions, Options, and Riders / 6. Group life insurance
    • D. Life Insurance Policy Provisions, Options, and Riders / 6.a. Conversion to individual policy
    • D. Life Insurance Policy Provisions, Options, and Riders / 7. Flexible Premium Policies
    • D. Life Insurance Policy Provisions, Options, and Riders / 7.a. Variable life
    • D. Life Insurance Policy Provisions, Options, and Riders / 8. Whole Life Insurance
    • D. Life Insurance Policy Provisions, Options, and Riders / 8.a. Equity index
    • E. Annuities
    • E. Annuities / 1. Deferred annuities
    • E. Annuities / 2. General account assets
    • E. Annuities / 3. Equity indexed annuities
    • E. Annuities / 4. Variable annuities
    • E. Annuities / 4.a. Regulation of variable products (SEC, FINRA and Massachusetts)
    • E. Life Settlement Act
    • E. Life Settlement Act / 1. Life settlement broker authority
    • E. Life Settlement Act / 2. Disclosure to customers
    • E. Life Settlement Act / 3. Fraudulent acts
Examination sources