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

prior to contribution.

during the accumulation period.

at distribution.

only if there is a premature distribution.

Help the insured file and follow up on claims.

Notify the insurance department when claims are paid.

Work with rating bureaus to establish insurer ratings.

Pay the insured's premiums if they are unable to do so.

Forgery

Coercion

Concealment

Misrepresentation

discriminatory.

cost prohibitive.

excessive, inadequate, or unfairly discriminatory.

different for persons withdiffering risk profiles.

avoid risk.

reduce risk.

transfer risk.

increase risk.

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.

a risk.

a peril.

a hazard.

an exposure.

surrender charges will reduce the contract payout amount.

the right to surrender Is available on immediate and deferred annuities.

the owner has the right to surrender the contract during the accumulation period.

surrender charges diminish over a stated number of years and will eventually disappear.

Cash withdrawal.

A loan from the policy.

Surrender of the policy.

Decrease In the coverage amount.

10

15

20

30

will not provide further insurance protection.

must be shared equally by Rob and Joe's wife.

will accumulate with interest until another brother dies and then be awarded to the surviving brother.

must be awarded to Joe's estate.

premium limit.

premium amount.

frequency of the premium payment.

method of premium payment.

the interest exists at the time of death.

the interest exists at the time of application.

any type of distant family relationship exists with the insured party.

any type of business relationship exists between the insured party and the beneficiary.

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.

risk selection.

medical underwriting.

adverse selection.

risk underwriting.

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.

Partial Surrender.

Automatic Premium Loan.

Waiver of Premium.

Spendthrift Clause.

hazard.

peril.

indemnity.

loss.

Annuity.

Whole Life.

Qualified Retirement.

Tax Sheltered Annuity.

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

younger.

older.

married.

deaf.

Guaranteed renewability.

Guaranteed insurability.

Cost of living.

Disability income.

death benefits.

college tuition.

retirement Income.

safety of principal.

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.

Nonforfeiture period.

Accumulation period.

Annuity period.

Payout period.

Life annuity with period certain

Joint life and survivorship annuity

Joint life annuity

Temporary annuity certain