Jeffrey Wade
Life insurance exams are a simple part of the application process, but they can be stressful. The process to get licensed varies by state, as do the pass rates, scoring, and exam length. To book your life insurance exam, you must first decide on a preparation course, such as XCEL or Kaplan, and then decide whether you need additional study tools. After completing your preparation course, you can schedule your exam. Exams can be completed at a convenient in-center location, or at your home or office.
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What You'll Learn
Online vs. in-person exam preparation courses
Online and in-person exam preparation courses each have their own unique advantages and disadvantages. The choice between the two ultimately depends on individual preferences, requirements, and learning styles.
Online exam preparation courses offer convenience and flexibility, allowing students to study at their own pace and from the comfort of their homes. This is particularly beneficial for those with mobility issues or who cannot travel to an exam centre. Additionally, online courses can provide interactive tools, such as mobile-friendly platforms, and comprehensive knowledge assessments to enhance the learning experience. However, online courses may require a stable internet connection and a functional computer system, which can be costly to maintain.
On the other hand, in-person exam preparation courses offer a traditional classroom experience with face-to-face interactions between instructors and students. This can be advantageous for students who prefer more structured learning and direct engagement with their teachers. In-person courses can also help students stay focused and create a sense of accountability, as they need to physically attend classes and exams. However, in-person courses may require additional time and resources for travel, and students may need to plan ahead to ensure they arrive at the exam location on time.
Both options provide effective preparation methods, but they cater to different needs and learning styles. Online courses offer convenience, flexibility, and comfort, while in-person courses provide structure, engagement, and a sense of discipline. Ultimately, the decision should be based on individual preferences, learning styles, and the specific requirements of the life insurance exam.
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Practice tests and study guides
When it comes to practice tests and study guides for life insurance exams, there are several options available. Many companies offer comprehensive study solutions, including structured or self-study exam prep packages, live and online classes, and individual study tools.
Kaplan Financial Education
Kaplan Financial Education offers a range of study materials for the life insurance exam. Their Life and Health Insurance License Exam Manual includes diagrams, tables, and practice tests. Customers have praised the book for being well-written, easy to understand, and a helpful guide for passing the test. However, some have criticised it for not explaining certain concepts and diagrams adequately. The company also provides a State Law Supplement and a License Exam Manual, which can be used together to prepare for the state exam. Additionally, they offer hundreds of insurance practice questions, customizable study plans, and exam-focused streaming videos and audio clips.
XCEL Solutions
XCEL Solutions is a leading online insurance license school that provides interactive and mobile-friendly study aids, review tools, and comprehensive knowledge assessments. They offer a 3-part training program designed to help students pass their exams on the first try. Their courses are tailored to each state's published exam content outlines, ensuring a streamlined approach to test preparation. XCEL also offers additional study tools such as flashcards, on-demand lectures, and livestream exam reviews.
Amazon
Amazon offers a variety of books and study guides to help prepare for life insurance exams. The Life and Health Insurance License Exam Cram by Educational Services, Bisys, is a popular choice among customers. It covers concepts, laws, rate calculations, and state and federal regulations. While some customers find the book helpful and easy to understand, others have criticised it for lacking state-specific information and not including details on the Affordable Care Act. Amazon also offers the Life and Health Insurance License Exam Manual by Kaplan Financial Education, which has received positive reviews for its readability and comprehensiveness.
PSI Online Store
PSI Online Store provides a digital companion for test preparation, with 400+ sample questions and expert premium content. Their study pack covers the national portion content for various states and includes detailed answer explanations, topic breakdowns, and progress tracking.
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Exam locations
The life insurance exam is a simple part of the application process. Exams can be completed at a convenient in-centre location, or at your home or office. Exam times can vary depending on the services required by your insurance company.
If you are pursuing a license as a life and health insurance agent, you will need to take and pass your state’s Life & Health Insurance exam. The contents of the exam are different depending on the state you take the test in. This includes the number of questions, the time limit, the topics covered, and the overall exam format. Some states' tests contain 150 questions, while others only contain 50 questions. Some states time their exams at 2.5 hours, while others set the time limit at 1.5 hours.
You can take the exam at a testing centre, which can feel a little intimidating, so it's good to know what to expect. You should expect to put all of your belongings in a locker before you get assigned to a testing cubicle.
You have the option to have your specimen collected at a Quest Patient Service Centre of your choice. By proceeding with this At-Home Collection request, you agree to pay Quest at Home directly a $55 per-visit mobile collection fee via credit card at the time of scheduling.
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Exam fees
The cost of the life insurance exam varies depending on the state. The state licensing exam can range from $40 to $150. The fee for a non-resident license also varies by state and usually needs to be renewed every two years. The life insurance medical exam is free of cost. The insurance company will pay for a medical examiner to come to your home or office. The exam usually takes 20 hours of studying and/or pre-licensing education. Some states time their exams at 2.5 hours, while others set the time limit at 1.5 hours.
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Exam structure and content
The structure and content of life insurance exams vary depending on the state and the specific exam. However, most life insurance exams will cover key insurance concepts, laws, rate calculations, and state and federal regulations.
For example, the Life and Health Insurance License Exam offered by Kaplan Financial Education covers a range of topics, including key terms, state laws and regulations, and insurance concepts. The exam is designed to prepare individuals to sell life and health insurance and covers the general requirements for each state.
The XCEL Life and Health Insurance Classes also offer a comprehensive 3-part training program that is designed to help students pass their exams on the first try. The program includes online self-paced, livestream, and hybrid options, as well as e-books, videos, simulator exams, flashcards, review notes, and on-demand lectures.
In addition to these formal courses, there are also a number of study tools and resources available to help individuals prepare for life insurance exams. These include books, such as the Life and Health Insurance License Exam Cram and the Life and Health Insurance License Exam Manual, which offer clear explanations of key concepts, practice questions, and state-specific information.
Overall, the structure and content of life insurance exams will depend on the specific requirements of the state and the exam provider. However, most exams will cover a range of insurance-related topics, including concepts, laws, and calculations, and will require individuals to have a strong understanding of the material to pass.
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Frequently asked questions
The life insurance exam is a simple part of the application process. You can book your exam at a convenient in-centre location or at your home or office.
The cost of the exam depends on the provider and the services required by your insurance company. For example, Quest at Home charges a $55 mobile collection fee.
It is recommended that you spend 35 to 40 hours studying for your life insurance exam over the course of a few weeks. You can also take practice exams, which are offered by Mometrix and Kaplan.
Make sure to bring any application paperwork that you have received and to have the information requested by your examiner readily available.
The format of the exam depends on the state in which you are taking it. The number of questions ranges from 50 to 150, and the time limit is typically 1.5 to 2.5 hours.
