Ohio life insurance - Study guides, Class notes & Summaries

Study Guide for OHIO Life Insurance Exam 2024 Final Q&A Insurance: - CORRECT ANSWER-A contract in which the insurance company agrees to indemnify the insured party against loss, damage or liability arising from an unknown event. Insurance Transfers: - CORRECT ANSWER-The risk of loss from an individual or business entity to an insurance company, which in turn spreads costs of unexpected losses to many individuals. Direct response marketing: - CORRECT ANSWER-A direct response marketin...

Ohio Life insurance Exam Questions and answers latest update

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 the face amount if the insured dies Riders - CORRECT ANSWER cost extra, but none of the extra premiu...

Ohio Life Insurance Verified Exam with 100% Correct Answers

1 OHIO LIFE INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ key person insurance - -life insurance policy a business owner purchases on a key employee Human life value (in determining amount of personal life insurance) - -Enough insurance to cover the loss of the income assuming the insured died. Needs Approach ((in determining amount of personal life insurance) - -Needs considered include outstanding indebtedness, mortgages, educational needs of various family members, fede...

OHIO LIFE INSURANCE EXAM

Ohio life insurance exam 2025 (questions and correct verified answers) guaranteed pass 100%

1 OHIO LIFE INSURANCE FINAL EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED. Which of the following is usually the owner of the annuity? - -The annuitant Which of the following is not true of the straight life income option for annuities? - -A beneficiary will receive any balance of the annuity upon the annuitant's death. When an insurance policy is taken out, if the owner of the policy is someone other than the actual insured, the owner must be able to prove: - -That he/she has an insurabl...

1 OHIO LIFE INSURANCE – BASICS: COMPLETE EXAM REVIEW QUESTIONS AND ANSWERS/ Beneficiary - -A person who receives the benefits of an insurance policy Death Benefit - -The amount paid upon the death of the insured in a life insurance policy Cash value - -Equity amount accumulated in a permanent life insurance Estate - -A person's net worth Illustrations - -Presentation or depiction of non-guaranteed elements of a life insurance policy Life Insurance - -Coverage on human life Liquidatio...

OHIO LIFE INSURANCE FINAL EXAM