LLQP Exam Dumps : Life License Qualification Program (LLQP)

In life insurance policies, once the policy is issued, the insured does not need to notify the insurer of any changes in occupation. The premiums and coverage are based on the occupation and risk profile at the time of application, and life insurance contracts do not generally require updates on occupational changes unless explicitly stated​.

Therefore, regardless of Samir’s current job as a scuba diver, his life insurance policy remains in force without the need for notification to the insurer. This is different from disability insurance, which may consider occupation changes to reassess risk and benefits​.

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In Quebec, an irrevocable beneficiary designation remains in effect even after a divorce, unless the policyholder takes steps to change it. Because Rajbir is designated as the irrevocable beneficiary, Surjit would require Rajbir’s consent to alter the beneficiary designation. Since Surjit intends to keep Rajbir as the beneficiary, he does not need to take any additional action, as the irrevocable beneficiary status remains in force. Surjit cannot change or remove Rajbir as the beneficiary without her consent, so his current designation remains unaffected by the divorce under LLQP guidelines and Quebec civil code rules on irrevocable beneficiaries​​.

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Comprehensive and Detailed Explanation From Exact Extract:

According to the LLQP curriculum, when an insured leaves employment, they are typically entitled to convert their group life insurance policy into an individual policy without medical evidence, up to a specified limit—commonly $200,000. This is a standard feature to ensure continued coverage post-employment. The conversion must generally occur within 31 days of termination.