Ohio life and health - Study guides, Class notes & Summaries

Ohio Life and Health Insurance Exam Cram 100% Correct The term describing the insured's notification to the insurer requesting payment for a covered loss is: a. Limit of liability b. Premium c. Claim d. Deductible - Answer ️️ -An insurance claim is the insured's notification to the insurer that a payment is requested for a covered loss. The correct answer is: Claim Which of the following is the consideration an insured pays for insurance coverage? Select one: a. Deductible b. P...

OHIO LIFE AND HEALTH PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - -$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - -Death benefit An indemnity p...

1 OHIO LIFE AND HEALTH EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Confidentiality of health information (as stated by Ohio HIC laws) applies to information supplied by - -Both by the covered individual and by providers An agent has committed an insurance crime that violates US CODE 1033 (interstate commerce). Who would be responsible for the prosecution of this crime - -US attorney general A nonparticipating policy will - -not pay dividend What is the elimination period of an individu...

Ohio Life and Health Practice Exam Questions and Correct Answers 100% 2024 An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - CORRECT ANSWER-$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - CORRECT ANS...

An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made? - ️️Refund annuity Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation? - ️️Unpaid premium All _____ policies must be guaranteed renewable. - ️️long-term care An attending physician's...

Ohio Life and Health Final Exam 2024 with 100% Correct Answers

Life and Health Insurance - Ohio Licensing Exam 100% Pass Absolute Assignment - Answer ️️ -The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - Answer ️️ -A fortuitous event; unforeseen and unintended Accidental Death Insurance - Answer ️️ -A form of health insurance that provides payment if death of the insured res...

1 OHIO LIFE AND HEALTH STATE EXAM REVIEW QUESTIONS AND ANSWERS/ VERIFIED/ Continued coverage under COBRA would be provided to all of the following EXCEPT: - -D) a covered employee is terminated for gross misconduct a life insurance policy-owner is allowed ___ days upon policy delivery to return the policy for a full premium refund. - -10 an insurance agent agrees to pay the first monthly premium for an insurance applicant. This is called - -Rebate a life insurance company has transferr...

Life and Health Insurance - Ohio Licensing Exam Questions and answers latest update

Ohio Life and Health Practice Exam Questions and answers latest update