Ohio life insurance 2024 - Study guides, Class notes & Summaries

OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments? - correct answer Period certain What happens when an insurance policy is backdated? - correct answer The policy's probation period is earlier than the present What is an insurer required to do when faced with an error made under the Misstatement of Age provision? - correct answer Pay age-corrected benefits An insurer will acc...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (Verified Answers) Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? - CORRECT ANSWER Human life value Which of the following signatures is not required on an individual insurance application? - CORRECT ANSWER Insurer Insurance companies determine risk exposure by which of the following? - CORRECT ANSWER law of large num...

OHIO LIFE AND HEALTH INSURANCE PRACTICE FINAL EXAM 2024 Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - correct answer Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - correct answer long-term care An attending physician's statement would be appropriate for which life insurance purpose? - correct answer At the request of the insurer to assist in the underwrit...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (Verified Answers) Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? - CORRECT ANSWER Human life value Which of the following signatures is not required on an individual insurance application? - CORRECT ANSWER Insurer Insurance companies determine risk exposure by which of the following? - CORRECT ANSWER law of large num...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (Verified Answers) Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? - CORRECT ANSWER Human life value Which of the following signatures is not required on an individual insurance application? - CORRECT ANSWER Insurer Insurance companies determine risk exposure by which of the following? - CORRECT ANSWER law of large num...

OHIO LIFE AND HEALTH PRACTICE EXAM 2024 Ownership of a life insurance policy may be temporarily transferred with a(n) - correct answer collateral assignment Which of the following statements is CORRECT regarding an individual applying for life or health insurance? - correct answer The applicant's medical history may be analyzed and reported Which type of annuity guarantees a stated number of income payments, whether or not the annuitant is still alive to receive them? - correct answ...

Ohio Health & Life Insurance Exam Prep 2024 Q&A Medical Expense Insurance - CORRECT ANSWER-Covers medical care and services Disability income insurance - CORRECT ANSWER-replaces income lost when disability keeps the insured from working Long-term care insurance - CORRECT ANSWER-covers long-term care in a nursing home, at home, or at an extended health care facility. Medicare supplement insurance - CORRECT ANSWER-Policy that provides coverage to supplement Medicare coverage Limited Be...

Ohio Life Insurance Exam Questions and Answers (2024 / 2025) (Verified Answers) According to the entire contract provision, the entire contract includes all of the following EXCEPT - CORRECT ANSWER The premium payment (other answers any attachments, any endorsements, and the insurance policy) In most states, the policy becomes incontestable after - CORRECT ANSWER 2 years Consideration for an insurance policy includes - CORRECT ANSWER The statements made in the application and the pr...