Mich. Admin. Code R. 500.4 - Life and accident and health producers; curriculum requirements

Current through Vol. 22-05, April 1, 2022

Rule 4.

(1) To qualify as a registered insurance producer program of study on the subject of accident and health insurance, a course must provide a minimum of 20 hours of study. These 20 hours of instruction and final examination must include all of the following areas, but may be taught in any order the instructor chooses:
(a) Fourteen hours on the principles of accident and health insurance, including, but not limited to, the following subjects and their definitions, characteristics, and application:
(i) Loss of time or disability policies.
(ii) Expense incurred policies.
(iii) Accidental death and dismemberment policies.
(iv) Hospital indemnity policies.
(v) Medicare supplement policies.
(vi) Dread disease policies.
(vii) Long-term care policies.
(viii) Group health insurance policies.
(ix) Major medical policies.
(x) Excess loss policies.
(xi) Blanket disability policies.
(b) Six hours on professional ethics and the requirements of the insurance laws of Michigan, including, but not limited to, all of the following chapters and subjects:
(i) Chapter 12 of the code, MCL 500.1200 to 500.1247.
(ii) Chapter 20 of the code, MCL 500.2001 to 500.2093.
(iii) Chapter 34 of the code, MCL 500.3400 to 500.3477.
(iv) Chapter 45 of the code, MCL 500.4501 to 500.4511.
(v) R 500.651 to R 500.669 of the Michigan Administrative Code.
(vi) The definitions and characteristics of all of the following:
(A) Title X of the consolidated omnibus budget reconciliation act of 1985 (Title X of COBRA), Public Law 99-272.
(B) Third-party administrators.
(C) Multiple employer welfare arrangements.
(D) Administrative services only contracts.
(E) Coordination of benefits.
(F) The patient protection and affordable care act, Public Law 111-148, as amended by the health care and education reconciliation act of 2010, Public Law 111-152.
(2) To qualify as a registered insurance producer program of study on the subject of life insurance, a course shall provide for a minimum of 20 hours of study. These 20 hours of instruction and final examination must include all of the following areas, but may be taught in any order the instructor chooses:
(a) Fourteen hours on the principles of life insurance, including, but not limited to, all of the following subjects and their definitions, characteristics, and application:
(i) All of the following types of policies and principal policy provisions:
(A) Term life policies.
(B) Whole life policies.
(C) Endowment policies.
(D) Universal life policies.
(E) Variable life policies.
(ii) Annuities.
(iii) Premiums and dividends.
(iv) Group life insurance.
(b) Six hours on professional ethics and the requirements of the insurance laws of Michigan, including, but not limited to, all of the following chapters and subjects:
(i) Chapter 12 of the code, MCL 500.1200 to 500.1247.
(ii) Chapter 20 of the code, MCL 500.2001 to 500.2093.
(iii) Chapter 40 of the code, MCL 500.4000 to 500.4073.
(iv) Chapter 44 of the code, MCL 500.4400 to 500.4454.
(v) Chapter 45 of the code, MCL 500.4501 to 500.4511.
(vi) R 500.1371 to R 500.1387 of the Michigan Administrative Code.
(3) The 40 hours of instruction and final examination for a combined life and accident and health program must include all of the following areas, but may be taught in any order or combination the instructor chooses:
(a) Thirty-four hours on all of the topics listed in subrules (1)(a) and (2)(a) of this rule.
(b) Six hours on the topics listed in subrule (2)(b) of this rule.

Notes

Mich. Admin. Code R. 500.4
1988 AACS; 2020 MR 23, Eff. 12/12/2019

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