OH-Life-Agent-Series-11-44 Questions and Answers

legal age.

legal purpose.

ownership.

payment of premium.

a contingent beneficiary.

a revocable beneficiary.

a permanent beneficiary.

an irrevocable beneficiary.

between the death of the insured individual and the payment of the benefits.

after the premium is paid and before the policy is issued.

after the premium is received and before the policy is issued.

after the premium is due but while the policy remains in force.

accumulate a sum of money for retirement.

can provide money to pay taxes on assets.

redistribute the premium obligation during the early years of the policy.

provide funeral insurance and pre-need burial insurance.

retirees.

company employees.

members of a family.

association members.

Straight life with guaranteed payments.

Joint life.

Straight life.

Joint and survivor life.

Each party is entitled to rely on others' representations.

The Insurer agrees to pay a stated sum regardless of loss.

The terms must be accepted or rejected in full.

The insurer's obligations are dependent upon certain acts of the insured individual.

Waives premiums on a Juvenile policy if the policyowner becomes totally disabled or dies.

Pays a monthly income to the policyowner if the insured is totally disabled.

Waives policy premiums if the insured becomes totally disabled.

Increases the value of the policy if the policyowner dies.

10

15

20

30

business continuation life.

business overhead.

key person.

employee welfare.

must be related to the insured.

can only be named as a contingent beneficiary.

must be at least 16 years old.

must have an appointed guardian.

premium limit.

premium amount.

frequency of the premium payment.

method of premium payment.

impose an administrative penalty

suspend the licensee s premium accounts

immediately terminate insurer appointments

sentence the licensee up to 30 days in jail

funds are Invested in a separate account.

the minimum interest rate is guaranteed in the contract.

benefit payments remain level.

it may be sold as an immediate or deferred annuity.

A non-admitted insurer is required to submit forms to the Department of Insurance.

A non-admitted insurer is not afforded protection by the guaranty fund.

A non-admitted insurer is required to submit rates for approval.

A non-admitted insurer is also known as a domestic insurer.

coverage amount to match the loan amount.

conversion privileges.

Individual policies.

group policies.

death benefits.

college tuition.

retirement Income.

safety of principal.

application is signed.

policy is delivered and accepted.

company underwriter approves the risk.

application is postmarked and mailed to the insurer.

The company.

The beneficiary.

The annuitant.

The policyowner.

Credit Life.

Modified Life.

Adjustable Life.

Term Life.

Needs approach

Affordability approach

Human Life Value approach

Return of Investment approach

the insured must pay 50% of the premiums paid to the spouse named as the beneficiary

the spouse designated as beneficiary will remain an irrevocable beneficiary

the designation of the spouse as a beneficiary is revoked

the policy will automatically be terminated

notify the superintendent

notify all prospective insureds

obtain approval from the insurer

notify the National Association of Insurance Commissioners

provide evidence of insurability.

renew for at least 10 years.

pay an annual premium that may be higher.

convert to a whole life policy.

policyholder suffers a disability.

first premium has been paid.

policy has been in force for one year.

policy reaches its maturation date.

uses a testimonial.

refers to the insurer's financial rating.

points out coverage advantages of a policy.

uses a policy title to inaccurately describe a coverage.