Indiana Life & Health Study Guide

The combined exam draws on both halves, but the Indiana-specific questions concentrate in two places that a single-line candidate would never see side by side: the guaranty association limits, which Indiana tiers more finely than most states, and the free-look ladder, which Indiana builds in a shape most courses do not draw. Learn both as structures rather than as lists of numbers, because the exam tests the shape.

The guaranty association — and the tier inside it

The Indiana Life and Health Insurance Guaranty Association (IC 27-8-8) is the safety net when a life or health insurer fails. Its limits sit at IC 27-8-8-2.3(f)(2), and the life and annuity side is standard NAIC:

$300,000 death benefit. $100,000 net cash surrender or withdrawal value. $250,000 present value of annuity benefits.

The health side is where Indiana diverges, and where most national material flattens three numbers into one. Indiana runs a tier:

$500,000 for a health benefit plan — major medical. $300,000 for disability income and long-term care. $100,000 for other or basic health coverage.

Then the aggregate follows the tier rather than sitting fixed: $300,000 per individual life, except up to $500,000 where a health benefit plan is involved. So a claimant with major medical and a disability policy is not capped at $300,000 — the presence of the health benefit plan lifts the aggregate to $500,000. That is precisely the fact pattern an exam item builds around.

One more limit lives quietly in the same subsection: a single owner of multiple nongroup life policies is capped at $5,000,000.

Never sell with it

Using the guaranty association’s existence to induce a sale is prohibited in Indiana. This turns up as often in ethics questions as in guaranty questions, and it is the reason those limits appear nowhere in a carrier’s marketing material. If a scenario has a producer reassuring a hesitant buyer that “the state guarantees the first three hundred thousand anyway,” the scenario is describing a violation, whatever else it is describing.

The free-look ladder is flat, then jumps

Most courses draw an ascending ladder: a short free look for life, longer for annuities, longest for health products. Indiana’s is a different shape entirely.

Individual life: 10 days (IC 27-1-12-43). Individual annuity: 10 days (IC 27-1-12.6-5) — the same, not longer. Long-term care: 30 days (IC 27-8-12-12). Medicare supplement: 30 days (IC 27-8-13-17).

So the shape is 10 / 10 / 30 / 30 — flat, then a step. Two failure modes follow from it. The first is over-answering the life and annuity rungs, because national material trains twenty or thirty. The second is assuming annuities must differ from life, because in so many states they do. In Indiana they do not.

Continuing education, and the conditional ethics rule

This credential carries Life and Accident & Health — the two lines to which Indiana attaches its ethics requirement. IDOI writes it as “24 (3 of which must be an Ethics course if Accident & Health and/or Life licensed).” Read the conditional clause carefully, because it is the fact most national sites report incorrectly: the three ethics hours are tied to these two lines, not imposed on every Indiana producer.

The rest of the arithmetic: 24 hours per two-year cycle, and holding two lines does not double it — twenty-four is the total. Up to 12 hours carry into the next cycle, which is exactly half. Ethics and long-term care hours never carry.

Licences run two years and expire on the last day of the licensee’s birth month — not on the birthday, and not on a fixed statewide date.

Two product gates that sit outside the twenty-four

Because this credential spans both halves, both of Indiana’s product-training gates can apply to you, and neither is a CE credit:

Annuities — a one-time 4-hour best-interest course before selling, for producers licensed on or after 1 July 2024 (760 IAC 1-72). Long-term care — an 8-hour course before marketing, then 5 hours every two years, and 15 hours in total to sell Partnership policies.

And one requirement Indiana does not impose, despite widespread claims otherwise: there is no Indiana flood training mandate.