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

fixed value rates

variable sub accounts

market value adjustments

interest sensitive trigger

It requires only one payment to make the policy paid up.

It provides for only one premium to be paid without evidence of insurability.

It waives one future premium if the owner becomes disabled.

It requires the policyowner to pay one premium annually.

an exposure.

a hazard.

a peril.

a risk.

Forgery

Coercion

Concealment

Misrepresentation

The insurer is not liable to pay any amount due to the insured's misstatement of age.

The insurer must pay the full amount of the policy, minus any additional premiums the Insurance company would have paid based on the Insured's actual age.

The insurer must pay a prorated amount of the policy based on the amount of insurance the insured's premiums would have been if purchased at the correct age.

The insurer must pay the full amount as stated in the policy, as age is not considered a relevant factor.

premium limit.

premium amount.

frequency of the premium payment.

method of premium payment.

partially tax deductible.

not tax deductible.

only tax deductible at age 50 or older.

tax deductible at retirement.

younger.

older.

married.

deaf.

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.

hazard.

peril.

indemnity.

loss.

underwriting

cost containment

adverse selection

claims experience

purchased as part of a structured corporate pension plan.

each employee signs and receives an individual contract.

participation is limited to eligible employees.

considered a defined-benefit plan.

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.

automatically becomes the beneficiary of the life insurance policy.

must show evidence of insurability to remain covered.

may Increase the term coverage of the rider.

is eliminated from coverage.

Cost of Living.

Waiver of Premium.

Accidental Death Rider.

Guaranteed Insurability.

provide evidence of insurability.

renew for at least 10 years.

pay an annual premium that may be higher.

convert to a whole life policy.

absolute statements.

misrepresentations.

representations.

warranties.

The policy's cash value is viewed as investment growth and therefore subject to taxation for each calendar year.

The growth of the policy's cash value Is not subject to income tax while the policy Is in force.

It is subject to fluctuations of the company's overall performance.

The cash value is not guaranteed.

notify the superintendent

notify all prospective insureds

obtain approval from the insurer

notify the National Association of Insurance Commissioners

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.

pays an additional benefit if the policyholder dies as a result of an accident.

allows the policyowner to sell their policy to a third party.

pays a portion of the face amount when a policyowner Is determined to be terminally ill.

pays only in the event of an accident resulting in death.

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

There will be no change in the policy other than the insured no longer has to pay the premiums on the policy.

The policy's cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.

The death benefit will be reduced by the amount of the unpaid premiums.

The insured will automatically become eligible for accelerated death benefits.

upon request of an insured

upon request of the superintendent

under no circumstances due to privacy consideration

by authorization from the National Association of Insurance Commissioners (NAIC)

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.

retirement income.

children's college expenses.

mortgage payments.

vacation expenses.

Life annuity with period certain

Joint life and survivorship annuity

Joint life annuity

Temporary annuity certain

Accumulation at Interest Option.

Paid-up Additions Option.

Cash Dividend Option.

Reduced Premium Dividend Option.