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

Life, Accident and Health Insurance Ohio Questions and Answers (2024 / 2025) (Verified Answers) Which is a FALSE statement? a. Agents act in a fiduciary capacity when handling premiums. b. Misrepresentation on an application can void coverage, if material. c. Mutual life insurers cannot guarantee their future dividend scale. d. You can protect future dividends on a non-participating policy. - CORRECT ANSWER D. Only participating policies might pay dividends to policy owners. Stock ...

Life, Accident and Health Insurance Ohio Questions and Answers (2024 / 2025) (Verified Answers) Which is a FALSE statement? a. Agents act in a fiduciary capacity when handling premiums. b. Misrepresentation on an application can void coverage, if material. c. Mutual life insurers cannot guarantee their future dividend scale. d. You can protect future dividends on a non-participating policy. - CORRECT ANSWER D. Only participating policies might pay dividends to policy owners. Stock ...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSWER with another licensed agent The waiver ...

ohio life insurance exam Questions and Answers (2024 / 2025) (Verified Answers) Return of Premium Rider (increasing term insurance) - CORRECT ANSWER insured buys an increasing amount of term insurance that always equals the total amount of premiums paid to date Return of Cash Value Rider (increasing term insurance0 - CORRECT ANSWER Pays an amount equal to the cash value along with th

Ohio Health Insurance Exam Questions and Answers (2024 / 2025) (Verified Answers) Long-Term Care (LTC) Policies: - CORRECT ANSWER Can be marketed in the form of individual policies, group policies, or as riders to life insurance policies, provide coverage for individuals who are no longer able to live an independent lifestyle and require living assistance at home or in a nursing home facility. The must provide coverage for at least 12 consecutive months in a setting other than an ...

OHIO LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS To qualify for appointment of agent - correct answer 18 YOA, US citizenship not required, no minimum residency Original certificate good for.... - correct answer 180 days Renewal for license - correct answer beinnially on birth month, $5 fee Types of risk - correct answer Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk - correct answer avoid it retain it - self insurance redu...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSWER with another licensed agent The waiver ...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSW

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - CORRECT answer cancelable How soon can the benefit payments begin with a deferred annuity? - CORRECT answer A minimum of 12 months after date of purchase Which

OHIO LIFE/HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Which statement best describes the tax responsibilities under a Business Overhead policy? - correct answer Premiums are deductible, benefits are taxed In which type of insurance company may stockholders share in the profits and losses of the insurer? - correct answer Stock In which company may policy owners receive policy dividends when there is a profit? - correct answer mutual The law of large numbers states that - c...