Every number on the Florida 2-15, with its source
220 exact values pulled out of the study guides and put in one place, each one carrying the statute, rule or standard it comes from. These are the figures the exam turns on and the ones people lose points to — the difference between 14 days and 21 days is a whole question.
220 values
Florida Statutes, Rules and Regulations for the 2-15 Exam
| 2-15 prelicensing course | 60-hour approved insurance course in life and health including variable annuity, completed within 4 years of the application date (DFS 2-15 license requirements; prelicensing rules ch. 69B-227, F.A.C.) |
| Minimum age and residency for licensure | At least 18, bona fide Florida resident, U.S. citizen or legal alien with federal work authorization (s. 626.731, F.S.); must not hold a resident license in another state |
| Continuing education — standard | 4-hour update course specific to a license held + 20 elective hours every 2 years = 24 hours (s. 626.2815, F.S.) |
| CE after 6 or more years licensed | 4-hour update + 16 electives = 20 hours (s. 626.2815, F.S.) |
| CE after 25 or more years licensed with CLU, CPCU or qualifying degree | 4-hour update + 6 electives = 10 hours (s. 626.2815, F.S.) |
| Appointment renewal | Renewal request filed by the appointing entity in the appointee's birth month (natural persons), and every 24 months thereafter (s. 626.381(1), F.S.) |
| Free look — individual life | Unconditional refund for at least 14 days (s. 626.99(4)(a), F.S.) |
| Free look — annuity | Unconditional refund for at least 21 days (s. 626.99(4)(b), F.S.) |
| Free look — individual health | 10 days from delivery; does not apply to single-premium nonrenewable or travel accident policies (Rule 69O-154.003, F.A.C.) |
| Free look — Medicare supplement | Prominently displayed no-loss cancellation clause: return within 30 days after receiving the policy or certificate, full refund of premium paid (s. 627.674(4)(d), F.S.) |
| Free look — long-term care | 30 days after delivery, premium refunded (s. 627.9407(8), F.S.) |
| Grace period — individual life | Not less than 30 days for any premium after the first; policy continues in force (s. 627.453, F.S.) |
| Incontestability — individual life | Incontestable after in force during the insured's lifetime for 2 years from date of issue (s. 627.455, F.S.) |
| Senior lapse secondary notice | Insured 64 or older and policy in force at least 1 year: at least 21 days notice before lapse to the policyowner, any designated secondary addressee and the agent of record (s. 627.4555, F.S.) |
| Group life conversion | Apply and pay the first premium within 31 days after termination of eligibility, without evidence of insurability; the group policy may exclude the option to elect term insurance (s. 627.566, F.S.) |
| Replacement — forms | Form OIR-B2-312, Notice to Applicant Regarding Replacement of Life Insurance (rev. 07/23), and Form OIR-B2-313, Comparative Information Form (rev. 07/23), adopted by Rule 69O-151.010, F.A.C. |
| Replacement — duties of the replacing insurer | Require the completed Form OIR-B2-312 from the agent with the application; send a copy to the existing insurer immediately upon receipt at its home or regional office; send Form OIR-B2-313 within 5 working days when requested; retain forms, sales proposals and a cross-indexed replacement register at least 3 years (Rule 69O-151.007, F.A.C.) |
| Repealed replacement rules | 69O-151.005 (Duties of Agent) and 69O-151.006 (Duties of Replacing Agent) repealed effective January 4, 2024 |
| Annuity best interest standard | Obligations of care, disclosure, conflict of interest and documentation (s. 627.4554(5)(a), F.S.) |
| Annuity surrender charge — consumer 65 or older | May not exceed 10% of the amount withdrawn (s. 627.4554(9), F.S.) |
| Recommendation to surrender (no replacement recommended) | Before the surrender executes, give written information on estimated surrender charge, loss of minimum interest rate guarantees, possible tax consequences, forfeited death benefit and other forfeited performance guarantees; keep a copy and the date provided (s. 627.4553, F.S.) |
| Controlled business limit | Commissions on controlled business exceeding 50% of aggregate commissions in any 12-month period (s. 626.730(3), F.S.) |
| Rebating — the five conditions | Available to all insureds in the same actuarial class; per a rebating schedule filed with the issuing insurer; applied uniformly by policy and amount; not given where the insurer prohibits agent rebating; schedule prominently displayed in public view with a free copy on request (s. 626.572, F.S.) |
| Rebating — prohibited factors and record retention | Percentage may not be based on age, sex, place of residence, race, nationality, ethnic origin, marital status, occupation of the insured, or location of the risk; keep all rebate schedules and effective dates for the most recent 5 years (s. 626.572, F.S.) |
| Premium trust funds | Trust funds received in a fiduciary capacity; no commingling; preserve records of premium payments at least 3 years after payment (s. 626.561(1)–(2), F.S.) |
| Premium diversion — criminal tiers | $300 or less: 1st-degree misdemeanor; more than $300 but less than $20,000: 3rd-degree felony; $20,000 or more but less than $100,000: 2nd-degree felony; $100,000 or more: 1st-degree felony (s. 626.561(3), F.S.) |
| Transacting insurance without a license | Knowingly transacting insurance, or aiding an unlicensed person, is a felony of the third degree (s. 626.112(10), F.S.) |
| Unfair trade practice fines (general) | Up to $12,500 per nonwillful and $100,000 per willful violation; aggregate $50,000 nonwillful and $500,000 willful for violations arising out of the same action (s. 626.9521(2), F.S.) |
| Twisting or churning penalty | 1st-degree misdemeanor; administrative fine up to $12,500 nonwillful, up to $187,500 willful if fraudulent; aggregate $125,000 / $625,000 for the same action (s. 626.9521(3)(a) and (3)(d), F.S.) |
| Fraudulent signature on an application | Willfully submitting a fraudulent signature is a felony of the third degree plus an administrative fine up to $187,500 per violation (s. 626.9521(3)(b), F.S.) |
| Guaranty association — life insurance | $100,000 in net cash surrender and net cash withdrawal values (s. 631.717(12)(a), F.S.) |
| Guaranty association — deferred annuity | $250,000 in net cash surrender and net cash withdrawal values (s. 631.717(12)(b), F.S.) |
| Guaranty association — all other benefits | $300,000 including cash values, including long-term care policies (s. 631.717(12)(c), F.S.) |
| Guaranty association — basic hospital, medical-surgical or major medical | $500,000 (s. 631.717(12)(d), F.S.); the association may never be used in advertising or solicitation to induce a purchase (s. 631.735, F.S.) |
| Medicare supplement open enrollment | 6-month period beginning with the first month the individual is 65 and enrolled in Medicare Part B; must also be offered to those under 65 eligible for Medicare by disability or ESRD; no medical or health-status underwriting or pricing during the window (s. 627.6741, F.S.) |
| Medicare supplement preexisting condition limit | No longer than 6 months, and no more restrictive than a condition for which advice or treatment was given within 6 months before the effective date (s. 627.6741(2)(b), F.S.) |
| Long-term care unintentional lapse protection | Insurer must notify the policyholder at least annually of the right to designate a secondary addressee; no cancellation for nonpayment without 30 days notice after the grace period, and notice may not be given until 30 days after a premium is due and unpaid (s. 627.94073, F.S.) |
| Long-term care reinstatement for cognitive impairment | Not less than 5 months after cancellation to demonstrate the nonpayment was unintentional and due to cognitive impairment, loss of functional capacity or continuous confinement (s. 627.94073, F.S.) |
| Small employer definition | Employed an average of at least 1 but not more than 50 employees on business days during the preceding calendar year; an annual 30-day open enrollment period must be offered (s. 627.6699, F.S.) |
| Eligible employee — small group | Works full time with a normal workweek of 25 or more hours (s. 627.6699, F.S.) |
| Florida KidCare / Healthy Kids | A child who has not reached 19 with family income at or below 300% of the federal poverty level is eligible (s. 409.814, F.S.); the Florida Healthy Kids Corporation is created as a not-for-profit corporation by s. 624.91, F.S. |
| HIV testing for insurance | Insurer must disclose its intent to test and obtain written informed consent; strict confidentiality of results; sexual orientation may not be used in underwriting or to determine who is tested (s. 627.429, F.S.) |
| Life proceeds and cash values vs creditors | Proceeds are exempt from the claims of the insured's creditors unless the policy or a valid assignment provides otherwise; if payable to the insured or the insured's estate they become part of the estate (s. 222.13, F.S.). Cash surrender values of life policies and proceeds of annuity contracts are exempt from legal process (s. 222.14, F.S.) |
| Effect of divorce on a beneficiary designation | A designation naming the decedent's former spouse is void as of the time the marriage was judicially dissolved or declared invalid, subject to statutory exceptions (s. 732.703, F.S.) |
| Reporting a felony plea or conviction | Within 30 days; failure is a discretionary ground (s. 626.621(10), F.S.) |
| Lawful solicitation hours | No in-person or telephone solicitation after 9 p.m. or before 8 a.m. local time of the prospective customer, unless the prospective customer requested it (s. 626.621(17), F.S.) |
Applications, Underwriting, Policy Delivery and Contract Law
| Life policy free look (unconditional refund) | At least 14 days — s. 626.99(4)(a), F.S. |
| Annuity free look (fixed or variable) | At least 21 days; on a fixed annuity the refund includes fees and charges deducted from or imposed under the contract — s. 626.99(4)(b), F.S. |
| Medicare supplement free look | 30 days after receiving the policy or certificate, via a prominently displayed no-loss cancellation clause, with full return of premium paid — s. 627.674(4)(d), F.S. |
| Individual health free look (not HMO) | 10 days — Florida Department of Financial Services consumer guidance |
| Buyer's Guide and Policy Summary | Given before the insurer accepts the initial premium or premium deposit, unless the policy provides an unconditional refund of at least 14 days — then delivered with or before the policy — s. 626.99(4)(a), F.S. |
| Policy delivery deadline | Mailed, delivered, or electronically transmitted no later than 60 days after the effectuation of coverage — s. 627.421, F.S. |
| Incontestability | 2 years in force during the insured's lifetime from date of issue. Still contestable afterward: nonpayment of premiums always, and — at the insurer's option — disability-benefit provisions and provisions granting additional insurance against death by accident or accidental means — s. 627.455, F.S. |
| Status of application statements | Representations, not warranties, absent fraud; the policy and application form the entire contract only if a copy of the application is endorsed on or attached to the policy when issued — s. 627.454, F.S. |
| When a misstatement defeats a claim | Only if fraudulent, or material to the acceptance of the risk, or the insurer in good faith would not have issued the policy, not at the same premium rate, not in as large an amount, or would not have covered the hazard resulting in the loss — s. 627.409(1), F.S. |
| Insurable interest timing | Must exist at the time the contract is made; need not exist after the inception date of coverage — s. 627.404(1), F.S. |
| STOLI | Unlawful to engage in a stranger-originated life insurance practice as defined in s. 626.9911, F.S. — s. 626.99275(1)(h), F.S. Penalties are graduated by the value involved: third-degree felony under $20,000; second-degree felony $20,000 to $99,999; first-degree felony $100,000 or more — s. 626.99275(2), F.S. |
| Replacement notice form (agent duty) | Form OIR-B2-312, Notice to Applicant Regarding Replacement of Life Insurance: presented no later than at the time of taking the application, signed by applicant and agent, left with the applicant with all sales proposals, and submitted to the replacing insurer with the application — Rule 69B-151.006, F.A.C. |
| Two signed statements on every life application | Applicant: whether the insurance will replace existing life insurance. Agent: whether the agent knows replacement is or may be involved. Submitted with or as part of each application — Rule 69B-151.005, F.A.C. |
| Replacing insurer's duties | Send Form OIR-B2-313 to the applicant within 5 working days when requested; forward Form OIR-B2-312 to the existing insurer immediately upon receipt — Rule 69O-151.007, F.A.C. |
| Existing insurer's response | Within 10 days of receiving Form OIR-B2-312, furnish the policyowner Form OIR-B2-313 with values computed for the current policy year — Rule 69O-151.008, F.A.C. |
| Replacement recordkeeping | 3 years or until the conclusion of the next regular examination, whichever is later — Rules 69O-151.007 and 69O-151.008, F.A.C. |
| Repealed agent-duty rules | Rules 69O-151.005 and 69O-151.006 repealed effective January 4, 2024; agent duties sit in Rules 69B-151.005 and 69B-151.006, F.A.C., with the forms adopted in Rule 69B-151.010, F.A.C. |
| Investigative consumer report | Written disclosure within 3 days of the report first being requested; nature and scope within 5 days of the consumer's written request or of the report first being requested, whichever is later — FCRA, 15 U.S.C. 1681d |
| HIV testing in underwriting | Prior written informed consent with a fair explanation of the test; only tests recognized as reliable — a CDC- or FDA-recommended test qualifies; sexual orientation may not be used in underwriting or to select who is tested, and may not be established from marital status, living arrangements, occupation, gender, beneficiary designation, or ZIP code — s. 627.429, F.S. |
| Fraud warning on forms | Every insurance application and claim form must carry an approved statement that a person who knowingly and with intent to injure, defraud, or deceive an insurer files a claim or application containing false, incomplete, or misleading information is guilty of a felony of the third degree — s. 817.234(1)(b), F.S. |
| Twisting and churning penalties | Administrative fine up to $12,500 per nonwillful violation and up to $187,500 per willful violation, with an aggregate cap of $125,000 nonwillful and $625,000 willful arising out of the same action — s. 626.9521(3)(a) and (3)(d), F.S. |
| Privacy of consumer information | Rules must be based on, consistent with, and no more restrictive than GLBA Title V and the NAIC privacy regulation; compliance with the federal HIPAA privacy rules satisfies the section for health insurers and HMOs — s. 626.9651, F.S.; Chapter 69O-128, F.A.C. |
| AML covered products | Permanent life other than group, annuity contracts other than group annuities, and any other insurance product with cash value or investment features — 31 CFR 1025.210 |
| Suspicious activity report | Threshold at least $5,000 in funds; file within 30 calendar days of initial detection, up to 60 calendar days if no suspect is identified; retain the SAR and supporting documentation 5 years; disclosure to the subject is prohibited — 31 CFR 1025.320 |
Types of Health Policies — Florida 2-15
| Individual health free look | 10 days from delivery; does not apply to HMO contracts |
| Medicare supplement free look | 30 days after receiving the policy or certificate, with full refund of premium paid (s. 627.674, F.S.) |
| Long-term care free look | 30 days after delivery (s. 627.9407, F.S.) |
| Life / annuity free look (for contrast) | Life 14 days; annuity 21 days |
| Individual health grace period | 7 days weekly premium, 10 days monthly, 31 days all other modes (s. 627.608, F.S.) |
| Individual HMO grace period | Contract must state a grace period of not less than 10 days (s. 641.31(15), F.S.) |
| Group-to-individual conversion | Continuously insured at least 3 months immediately prior to termination; written application and first premium within 63 days after termination; issued without evidence of insurability (s. 627.6675, F.S.) |
| Federal COBRA | 20 or more employees; 18 / 29 / 36 months; premium up to 102% (150% during the 11-month disability extension); 60-day election |
| Florida mini-COBRA | Fewer than 20 employees; 18 months, 29 if SSA-disabled; premium up to 115% of the applicable premium, up to 150% during the 11-month disability extension; beneficiary notice to carrier within 63 days of the qualifying event; carrier election and premium notice within 14 days; elect within 30 days (s. 627.6692, F.S.) |
| Medicare supplement open enrollment | 6 months beginning with the first month the individual is enrolled in Medicare Part B and is either 65 or older or eligible by disability or end-stage renal disease (s. 627.6741(1)(a), F.S.) |
| Medicare supplement preexisting conditions | Exclusion no longer than 6 months; may not be defined more restrictively than a condition for which medical advice was given or treatment recommended or received within 6 months before the effective date (s. 627.6741(2)(b), F.S.) |
| Florida small employer group | Average of at least 1 but not more than 50 eligible employees; eligible employee has a normal workweek of 25+ hours; guaranteed issue; annual 30-day open enrollment (s. 627.6699, F.S.) |
| Individual preexisting condition limit | Exclusion no longer than 24 months with a 24-month lookback; credit for prior similar coverage if the previous coverage was continuous to a date not more than 62 days before the new effective date (s. 627.6045, F.S.). Major medical issued on or after 1/1/2014 may impose none at all. |
| Short-term health insurance | Exempt from s. 627.6045 only if the applicant is clearly told, in the advertising and in the application, in 14-point contrasting type, that the policy is not qualifying previous or existing coverage as defined in s. 627.6699 (s. 627.6045(3), F.S.) |
| Hospital confinement indemnity minimum | Not less than $10 per day, not less than 31 days during any one period of confinement; no elimination period unless the benefit period is 365 days or more, in which case a 3-day elimination period is acceptable (Rule 69O-154.106, F.A.C.) |
| Specified disease minimum | Deductible not in excess of $250; aggregate benefit not less than $2,500; benefit period not less than 2 years (Rule 69O-154.106, F.A.C.) |
| Accident-only (specified accident) minimum | Accidental death not less than $1,000; single dismemberment $500; double dismemberment $1,000 (Rule 69O-154.106, F.A.C.) |
| HMO emergency services copay | Emergency services and care must be provided without prior notification or approval; any additional applicable copayment may not exceed $100 per claim (s. 641.31(12), F.S.) |
| HMO licensing (order matters) | Health care provider certificate from AHCA first; then a certificate of authority from the Office of Insurance Regulation, which may not be issued to an applicant lacking a valid health care provider certificate (s. 641.21(1), F.S.) |
| Dependent child coverage | Must cover at least to the end of the calendar year the child turns 25; must also offer the option to continue at least to the end of the calendar year the child turns 30 (s. 627.6562, F.S.) |
| Newborn coverage | Covered from the moment of birth; any notice requirement may not be less than 30 days after the birth (s. 627.641 individual and s. 627.6575 group, F.S.) |
| 2026 HDHP and HSA federal figures | HDHP deductible at least $1,700 self-only / $3,400 family; out-of-pocket no more than $8,500 / $17,000; HSA contribution $4,400 / $8,750, plus a $1,000 catch-up at age 55+ (IRS Rev. Proc. 2025-19) |
| Health claim payment deadlines (claims from an insured) | Reimburse within 45 days of receipt; a contested claim must be paid or denied within 60 days after receiving the requested additional information; every claim must be paid or denied no later than 120 days after receipt (s. 627.613, F.S.) |
| Time limit on certain defenses (incontestability) | After 2 years from the issue date, only fraudulent misstatements in the application may be used to void the policy or deny a claim for a loss or disability starting after the 2-year period (s. 627.607, F.S.) |
Health Policy Provisions, Clauses, Riders & Renewability
| Notice of claim (s. 627.610, F.S.) | 20 days after loss starts, or as soon as reasonably possible; every 6 months thereafter for a disability payable at least 2 years |
| Claim forms — insurer's deadline (s. 627.611, F.S.) | 15 days; if missed, a written statement of the nature and extent of loss suffices |
| Proof of loss (s. 627.612, F.S.) | 90 days after the loss; 90 days after each period ends for a continuing loss; outer limit 1 year unless legally incapacitated |
| Legal actions (s. 627.616, F.S.) | No suit for 60 days after proof of loss; none after the applicable statute of limitations |
| Grace period (s. 627.608, F.S.) | 7 days weekly premium / 10 days monthly premium / 31 days all other modes |
| Grace period — nonrenewal exception (s. 627.608, F.S.) | Does not apply if the insurer reserved the right to refuse renewal and gave written notice at least 30 days before the premium due date |
| Reinstatement — automatic (s. 627.609, F.S.) | 45th day after conditional receipt, unless the insurer previously wrote the insured of its disapproval |
| Reinstatement — coverage resumes (s. 627.609, F.S.) | Injury covered immediately; sickness only if it starts more than 10 days after reinstatement |
| Reinstatement — premium application (s. 627.609, F.S.) | No premium applied to any period more than 60 days before the reinstatement date |
| Time limit on certain defenses (s. 627.607, F.S.) | 2 years from the issue date; afterward only fraudulent misstatements can void the policy or deny a claim |
| Free look — individual health/disability (Rule 69O-154.003, F.A.C.) | 10 days after delivery, premium refunded, policy void from the beginning; not for single-premium nonrenewable or travel accident policies |
| Free look — life (s. 626.99(4)(a), F.S.) | Unconditional refund available for at least 14 days |
| Free look — variable or market value adjustment annuity (s. 626.99(4)(b), F.S.) | Unconditional refund available for 21 days |
| Free look — Medicare supplement (s. 627.674(4)(d), F.S.) | 30 days after receiving the policy or certificate, with full return of premium paid |
| Payment of claims — facility of payment (s. 627.614(2)(a), F.S.) | Up to $3,000 payable to a relative by blood or connection by marriage — an optional clause inside the mandatory payment-of-claims provision |
| Relation of earnings to insurance — benefit floor (s. 627.624, F.S.) | Never reduced below the sum of $500 per month or the total monthly benefits specified in the policies, whichever is less |
| Claim payment — from the insured or assignees (s. 627.613, F.S.) | Pay or contest in writing within 45 days; pay or deny within 60 days of receiving requested additional information; 120 days outer limit; 10% simple interest per year on overdue payments |
| Claim payment — provider, electronic (s. 627.6131, F.S.) | Pay, deny or contest within 20 days; not paid or denied within 120 days = uncontestable obligation to pay |
| Claim payment — provider, paper (s. 627.6131, F.S.) | Pay, deny or contest within 40 days; not paid or denied within 140 days = uncontestable obligation to pay |
| Interest on overdue provider claims (s. 627.6131, F.S.) | 12% simple interest per year |
| Individual health — cancellation, nonrenewal or rate change notice (s. 627.6043, F.S.) | At least 45 days' advance written notice; at least 10 days with the reason if for nonpayment of premium |
| Individual market withdrawal (s. 627.6425, F.S.) | 90 days' notice to discontinue a particular policy form; 180 days' notice to exit the individual market, then a 5-year re-entry bar |
| Life incontestability — contrast only (s. 627.455, F.S.) | 2 years in force during the insured's lifetime |
Types of Life Policies and Features
| Life insurance free look (unconditional refund) | At least 14 days — s. 626.99(4)(a), F.S. |
| Fixed and variable annuity free look | At least 21 days — s. 626.99(4)(b), F.S. |
| Fixed annuity refund amount | All premiums paid, including any contract fees or charges — s. 626.99(4)(b), F.S. |
| Variable annuity refund amount | Cash surrender value plus fees or charges deducted from premiums or imposed under the contract, or a refund of all premiums paid — s. 626.99(4)(b), F.S. |
| Free-look exception | Does not apply if the prospective owner is an accredited investor as defined in Regulation D adopted by the SEC — s. 626.99(4)(b)2., F.S. |
| "Senior consumer" age used for annuity protections | Age 65 or older — s. 627.4554(9), F.S. |
| Senior annuity surrender / deferred sales charge cap | May not exceed 10% of the amount withdrawn; must be reduced so no charge exists after the end of the 10th policy year, or 10 years after the date of each premium payment if multiple premiums are paid, whichever is later — s. 627.4554(9), F.S. |
| Senior surrender-cap exception | Does not apply to annuities purchased by an accredited investor under SEC Regulation D, or to contracts described in s. 627.4554(4)(b), F.S. |
| Annuity recommendation standard | Best interest of the consumer under the circumstances known at the time: care, disclosure, conflict-of-interest and documentation obligations — s. 627.4554(5)(a), F.S. |
| Recommending a surrender with no replacement product | Applies to an annuity or a life policy with cash value when no replacement annuity or life policy is recommended. Written disclosure before execution of estimated surrender charges, loss of minimum interest rate guarantees, possible tax consequences, forfeited death benefit and other forfeited investment performance guarantees; the agent keeps a copy and the date provided — s. 627.4553, F.S. |
| Annuity suitability and disclosure forms | Rule 69B-162.011, F.A.C. (amended effective 5/22/2024) adopts DFS-H1-1990 (agent disclosure), DFS-H1-1991 (consumer refusal to provide information) and DFS-H1-1992 (purchase not based on a recommendation). DFS-H1-1981 (Disclosure and Comparison of Annuity Contracts) remains required on an annuity replacement or exchange. |
| Variable or indeterminate value contracts / separate accounts | ss. 627.801–627.807, F.S. — s. 627.801 sets the part's application; s. 627.802 governs establishment and maintenance of separate accounts; s. 627.807 covers reserve requirements |
| License needed to sell variable contracts | Florida 2-15 (or 2-14) PLUS FINRA registration — Series 6 or Series 7 — held through a broker-dealer |
| Life insurance grace period | Not less than 30 days for any premium after the first — s. 627.453, F.S. |
| Nonforfeiture — paid-up benefit trigger (ordinary life) | After premiums paid for at least 1 full year (3 full years for industrial life) — s. 627.476, F.S. |
| Nonforfeiture — cash surrender value trigger (ordinary life) | After premiums paid for at least 3 full years (5 full years for industrial life), on surrender within 60 days after the due date of the premium in default — s. 627.476, F.S. |
| Medicare supplement free look (contrast) | 30 days |
| Individual health free look (contrast) | 10 days |
| Weight of this domain on the exam | 10% — about 15 of the 150 scored questions (Florida content outline effective 1/1/2026) |
Life Policy Provisions, Riders, Options and Exclusions
| Free look — individual life | 14 days. A buyer's guide and policy summary must be given before the initial premium unless the policy provides an unconditional refund for at least 14 days (s. 626.99(4)(a), F.S.) |
| Free look — annuity | 21 days unconditional refund. Fixed: all premiums plus contract fees or charges. Variable or market-value: cash surrender value plus fees or charges deducted, or all premiums paid. Does not apply if the purchaser is an accredited investor (s. 626.99(4)(b), F.S.) |
| Grace period, individual life | Not less than 30 days for premiums after the first; interest not in excess of 8%/yr, and the overdue premium is deducted from a claim (s. 627.453, F.S.) |
| Incontestability period | 2 years from date of issue, in force during the insured's lifetime; exceptions for nonpayment of premiums and, at the insurer's option, disability and accidental-death provisions (s. 627.455, F.S.) |
| Exclusions after incontestability | Incontestability precludes only a contest of validity; exclusion and restriction defenses may be asserted at any time (s. 627.463, F.S.) |
| Contestability after reinstatement | Contestable only for fraud or misrepresentation material to the reinstatement, for the same period and conditions as after original issuance (s. 627.472, F.S.) |
| Reinstatement window | Within 3 years after default; requires written application, insurability satisfactory to the insurer, all overdue premiums, and payment or reinstatement of other indebtedness with interest; unavailable if surrendered for cash or if paid-up term insurance has expired (s. 627.459, F.S.) |
| Automatic premium loan | Deemed elected if offered in the application for an individual life policy, unless the applicant makes an affirmative election not to include it (s. 627.4556, F.S.) |
| Policy loan value and deferral | At least the cash surrender value at the end of the then-current policy year; insurer may defer 6 months, never for a loan to pay a premium to that insurer (s. 627.458, F.S.) |
| Loan indebtedness exceeding loan value | Policy terminates only after at least 30 days' notice mailed by the insurer (s. 627.458, F.S.) |
| Maximum policy loan interest | Policies issued on or after October 1, 1981: fixed maximum 10% per year, or an adjustable maximum set as permitted by law (s. 627.4585, F.S.) |
| Nonforfeiture election window | 60 days after the due date of the premium in default; otherwise the paid-up nonforfeiture benefit specified in the policy becomes effective (s. 627.476, F.S.) |
| Cash surrender value deferral | Insurer may defer payment 6 months after demand with surrender of the policy (s. 627.476, F.S.) |
| Dividend apportionment | Participating policies only; beginning not later than the end of the 3rd policy year, annually thereafter (s. 627.457, F.S.) |
| Dividend option election period | Policy must name the automatic option; where other options are offered, at least 30 days from the dividend due date to elect (s. 627.457, F.S.) |
| Secondary notice before lapse | Insured 64 years of age or older, policy in force at least 1 year: notice at least 21 days before the effective date of lapse (s. 627.4555, F.S.) |
| Suicide exclusion | A contract term, not a Florida statutory period — customarily 2 years, with premiums refunded. Florida preserves exclusion defenses at any time (s. 627.463, F.S.) |
| Interest on death claim payments | Lump-sum death proceeds must include interest, accruing from the date the insurer receives written proof of death (s. 627.4615, F.S.) |
| Insurable interest — timing | Must exist at the time the contract is made; need not exist after the inception date of coverage (s. 627.404, F.S.) |
| Consent of the insured | The insured, having legal capacity, must apply for or consent in writing; exception for a minor younger than 15 insured by a person with insurable interest or on whom the minor depends for support (s. 627.404, F.S.) |
| Divorce and beneficiary designations | Ex-spouse designation void on dissolution or judicial invalidation; treated as predeceasing, subject to listed exceptions (s. 732.703, F.S.) |
| Common disaster / simultaneous death | Insufficient evidence they died other than simultaneously: proceeds distributed as if the insured survived the beneficiary (s. 732.601, F.S.) |
| Beneficiary who kills the insured | Unlawful and intentional killing: payable as though the killer predeceased; a final murder conviction is conclusive, otherwise proved by the greater weight of the evidence (s. 732.802, F.S.) |
| Creditor protection of proceeds | Exempt from the claims of creditors of the insured unless the policy or a valid assignment provides otherwise; if payable to the estate, proceeds become part of the estate for all purposes (s. 222.13, F.S.) |
| Minor beneficiaries | Use a custodian under the Florida Uniform Transfers to Minors Act, ch. 710, F.S., or a trust. Custodianship generally ends at 21, and the transferor may instead set termination at 25 (s. 710.123, F.S.) |
| Entire contract and application statements | Policy plus the application, if endorsed on or attached to the policy, is the entire contract; statements are representations, not warranties, absent fraud (s. 627.454, F.S.) |
| Authority to alter the contract | No agent may waive, change, or alter terms; changes only by endorsement or rider signed by a duly authorized officer of the insurer (s. 627.460, F.S.) |
| Recommendation to surrender | Agent must give written information on surrender charges, loss of minimum interest rate guarantees, tax consequences, forfeited death benefits, and other lost guarantees, and keep a copy with the date it was provided (s. 627.4553, F.S.) |
| Viatical settlements | Sale of the policy to a licensed third party; regulated by the Viatical Settlement Act (ss. 626.991–626.99295, F.S.) |
Medicare, Medicaid, Social Security & Other Health Concepts
| Medicare supplement free look (FL) | 30 days, full refund of premiums paid, via a prominently displayed no-loss cancellation clause — s. 627.674, F.S. |
| Medigap open enrollment at 65 (FL) | 6 months, beginning with the first month the person has attained 65 AND is enrolled in Medicare Part B; no health underwriting — s. 627.6741(1), F.S. |
| Medigap open enrollment under 65 (FL) | Same guaranteed 6-month right for those eligible for Medicare by reason of disability or ESRD — s. 627.6741(1), F.S. |
| Medigap window after group coverage ends (FL) | 2 months following termination of coverage under a group health insurance policy — s. 627.6741(1), F.S. |
| Medigap preexisting condition limit (FL) | 6 months maximum, and the definition may reach back no more than 6 months before the effective date; on replacement, time already served under the original policy must be waived — s. 627.6741(2), F.S. |
| Medigap cancellation grounds (FL) | Nonpayment of premium or material misrepresentation only — s. 627.6741, F.S. |
| Medigap agent compensation (FL) | First-year compensation no more than 200% of the compensation paid for selling or servicing the policy in the second year; renewal compensation must equal the second-year amount and be provided for no fewer than 5 renewal years — Rule 69O-156.013, F.A.C. |
| Duplicate Medigap coverage (FL) | Prohibited — any sale that would provide an individual with more than one Medicare supplement policy or certificate — Rule 69O-156.017, F.A.C.; parallel agent rule 69B-156.017, F.A.C. |
| Part A hospital benefit period | Days 1-60: deductible only. Days 61-90: daily coinsurance. Then 60 lifetime reserve days, usable once in a lifetime. |
| Part A skilled nursing facility | Days 1-20 paid in full; days 21-100 daily coinsurance; nothing after day 100. Requires a qualifying 3-day inpatient hospital stay. |
| 2026 Part A amounts | $1,736 inpatient deductible per benefit period; $434/day days 61-90; $868/day lifetime reserve; $217/day SNF days 21-100 |
| 2026 Part B amounts | $202.90 standard monthly premium; $283 annual deductible; Medicare then pays 80% of the approved amount and the beneficiary 20% |
| 2026 Part D amounts | Deductible no more than $615; out-of-pocket cap $2,100, after which the plan pays 100% |
| Premium-free Part A | 40 quarters of coverage (10 years) of Medicare-covered employment |
| SSDI waiting period | 5 full months before the first benefit is paid (waived for ALS) |
| Medicare after SSDI | 24 months of disability benefit entitlement — 29 months total from disability onset (waived for ALS) |
| Medicare start for ESRD | Generally the fourth month of dialysis; earlier with a home-dialysis training course or a kidney transplant |
| Insured status | Fully insured = 40 quarters of coverage. Currently insured = 6 quarters of coverage in the last 13 quarters. |
| 2026 substantial gainful activity (SGA) | $1,690 per month; $2,830 per month if blind |
| FL workers' comp coverage thresholds | Construction: 1 or more employees. Non-construction: 4 or more. Agriculture: more than 5 regular employees, or 12 or more seasonal workers employed more than 30 days in a season — ch. 440, F.S. |
| FL workers' comp waiting period | First 7 days not compensated, but paid retroactively if the disability lasts more than 21 days — s. 440.12(1), F.S. |
| FL temporary total disability | 66 2/3% of average weekly wage, not to exceed 104 weeks — s. 440.15(2), F.S. |
| FL temporary partial disability | 80% of the difference between 80% of the average weekly wage and postinjury earnings, capped at 66 2/3% of the AWW, max 104 weeks — s. 440.15(4), F.S. |
| FL workers' comp weekly maximum | 100% of the statewide average weekly wage for the year in which the injury occurred — s. 440.12(2), F.S. |
| FL nursing-home Medicaid (2026) | Income cap $2,982/month and $2,000 countable assets for a single applicant; 60-month look-back on transfers |
| Florida KidCare | Umbrella for four income-based programs — Children's Medicaid, MediKids, Florida Healthy Kids, and the Children's Medical Services Health Plan — covering children from birth until the 19th birthday |
| Medical expense deduction | Unreimbursed medical costs, including premiums, deductible only above 7.5% of adjusted gross income |
| 2026 HSA / HDHP limits | HSA contributions $4,400 self-only, $8,750 family. HDHP minimum deductible $1,700 / $3,400; out-of-pocket max $8,500 / $17,000 |
| Coordination of benefits — birthday rule | Primary is the parent whose birthday, excluding year of birth, falls earlier in the calendar year — s. 627.4235(4)(b), F.S. Divorced or separated: custodial parent, then that parent's spouse, then the non-custodial parent — s. 627.4235(4)(c), F.S. |
| Florida HMO licensing sequence | AHCA health care provider certificate first; the Office of Insurance Regulation may not issue a certificate of authority without it — s. 641.21(1), F.S. |
| Free Medicare counseling in Florida | SHINE (Serving Health Insurance Needs of Elders), the SHIP program administered by the Florida Department of Elder Affairs — Elder Helpline 1-800-963-5337 (1-800-96-ELDER). Free, unbiased and confidential; counselors sell nothing. |
Retirement and Life Insurance Taxation
| Viator's right to rescind a viatical settlement (FL) | 15 days after the viator receives the proceeds, conditioned on returning them — s. 626.9924, F.S. |
| Provider's notice to the insurer that a policy is viaticated (FL) | Within 20 days after the viator executes the documents necessary to transfer the policy, or within 20 days of any other agreement to viaticate — s. 626.9924, F.S. |
| Release of viatical proceeds to the viator (FL) | Within 3 business days after receiving the insurer's acknowledgment of the transfer — s. 626.9924, F.S. |
| Viatical contract signed too soon after policy issue (FL) | Void and unenforceable if entered within 2 years of policy issuance, with limited exceptions (e.g., terminal or chronic illness arising after issue, divorce, disability, loss of employment) — s. 626.99287, F.S. |
| Viatical settlement broker qualification (FL) | Must be a licensed life agent who appoints himself or herself with the Department and pays the fee; no separate broker license — s. 626.9916, F.S. |
| Viatical disclosures to the viator (FL) | Provided no later than the date of application; must include that proceeds may be taxable, may be reached by creditors, and may affect Medicaid or other public-assistance eligibility — s. 626.9923, F.S. |
| Group life conversion on loss of eligibility (FL) | 31 days to apply and pay the first premium, no evidence of insurability, up to the amount that ceases; term may be excluded — s. 627.566, F.S. |
| Group life conversion when the group policy terminates (FL) | Must have been insured at least 5 years; individual policy capped at the smaller of $10,000 or the amount ceasing less new group coverage available within 31 days — s. 627.567, F.S. |
| Death during the conversion period (FL) | Convertible amount is payable as a group claim whether or not application was made or premium paid — s. 627.568, F.S. |
| Group life policy grace period (FL) | 31 days for any premium after the first — s. 627.559, F.S. |
| Noncontributory group life participation (FL) | All eligible employees must be insured, except any whose evidence of individual insurability is unsatisfactory to the insurer and those rejecting in writing — s. 627.552, F.S. |
| Insurable interest timing (FL) | Must exist when the contract is made; need not exist after the inception date of coverage. Insured must apply or consent in writing — s. 627.404, F.S. |
| Creditor protection for cash value and annuities (FL) | Cash surrender values of life policies and proceeds of annuity contracts of Florida citizens or residents are not liable to attachment, garnishment or legal process by creditors, with no dollar cap, unless the policy or contract was effected for that creditor's benefit — s. 222.14, F.S. |
| Terminally ill definition for tax-free acceleration or viatication | Physician-certified illness reasonably expected to result in death within 24 months of the certification — IRC s. 101(g)(4)(A) |
| Chronically ill per-diem exclusion (2026) | $430 per day; amounts above that are taxable only to the extent they also exceed actual qualified long-term care costs — Rev. Proc. 2025-32; IRC s. 7702B(d) |
| Employer-paid group term life exclusion | First $50,000 of coverage; excess produces imputed income per the IRS uniform premium table (Table I), computed on 5-year age brackets — IRC s. 79 |
| Employer-owned life insurance notice and consent | Written notice and the employee's written consent must be obtained before the contract is issued, or the death benefit loses its income tax exclusion — IRC s. 101(j) |
| MEC test and penalty | Fails the 7-pay test = MEC; distributions and loans taxed LIFO plus a 10% additional tax before age 59 1/2 — IRC ss. 7702A, 72(v) |
| Nonqualified deferred annuity withdrawal ordering | LIFO — interest first, basis last — for contracts issued after August 13, 1982 — IRC s. 72(e) |
| Social Security insured status | Fully insured = 40 credits; currently insured = 6 credits in the last 13 quarters |
| Social Security credit value (2026) | $1,890 in covered earnings per credit, maximum 4 credits per year ($7,560 for all four) |
| Social Security retirement ages and blackout | Full retirement age 67 for those born 1960 or later; earliest reduced retirement at 62; blackout runs from the youngest child turning 16 until the surviving spouse reaches 60 |
| Federal retirement plan limits (2026) | 401(k)/403(b)/457 elective deferral $24,500; age 50+ catch-up $8,000; ages 60-63 catch-up $11,250; IRA $7,500 plus $1,100 catch-up; total annual additions $72,000 — IRS Notice 2025-67 |
| Buy-sell policy counts | Cross-purchase = n(n-1) policies; entity purchase = n policies |