Ohio life/health insurance study
guide FINAL EXAM NEWEST
2025/2026 COMPLETE 1000+
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED
A+||BRAND NEW!!
,What type of policy is typically issued without proof of
insurability from the insured? - ,,,,answer,,,,..Group policy
A whole life policy that requires that the Policyowner only pays
premiums for a specified number of years is known as what type
of policy? - ,,,,answer,,,,..Limited-pay whole life
Who is entitled to the cash values in an insurance policy? -
,,,,answer,,,,..The Policyowner
An insured receives a monthly summary for his life insurance
policy. He notices that the cash value of the policy is
significantly lower this month than it was last month. What type
of policy does the insured have? - ,,,,answer,,,,..Variable
What happens to the premium in an annually renewable term life
policy? - ,,,,answer,,,,..Premium increases with each renewal
In a joint life policy, when is the death benefit paid? -
,,,,answer,,,,..Upon the first death
In term policies, what happens to the premium throughout the
policy? - ,,,,answer,,,,..It remains level
In variable universal life insurance, to which policy component
does the term variable refer? - ,,,,answer,,,,..Cash value and
death benefit
When the amount of insurance is increased in an adjustable life
policy, what will the insurer require from the insured? -
,,,,answer,,,,..Evidence of insurability
,In what type of life insurance policies can the Policyowner skip
premium payments without lapsing? - ,,,,answer,,,,..Universal
life
A policy states that the insurer will pay a specified face amount
if the insured dies within the 20-year premium paying period
and nothing if he dies after. What type of policy is this? -
,,,,answer,,,,..20-year level term
What does "level" refer to in level term insurance? -
,,,,answer,,,,..Face amount
Between adjustable life and universal life policies, which one
provides more flexibility to the policyowner? -
,,,,answer,,,,..Universal life
What type of life insurance policy offers pure death protection? -
,,,,answer,,,,..Term
What type of policy issues certificates of insurance to the
insureds? - ,,,,answer,,,,..Group policy
What type of life insurance policy provides permanent
protection? - ,,,,answer,,,,..Whole life
What type of whole life policy generates immediate cash value?
- ,,,,answer,,,,..Single premium whole life
What elements of an adjustable life policy can be changed by
the pokicyowners? - ,,,,answer,,,,..The amount and payment
, period of the premium, the face amount, and the period for
protection
What is the purpose of establishing the target premium for a
universal whole life policy? - ,,,,answer,,,,..to prevent the policy
from lapsing
What type of whole life insurance policies only requires a
payment of premium at its inception, and in addition to
providing insurance protection for the life of the insured,
endows at the insured's age 100? - ,,,,answer,,,,..Single premium
whole life
What are the characteristics of the group that underwriters will
consider before issuing a group life policy? -
,,,,answer,,,,..Group's purpose, size, financial strength, and
turnover
Universal life policies have two different types of interest rates.
What are they? - ,,,,answer,,,,..Guaranteed and current
Who is insured under a juvenile life policy? - ,,,,answer,,,,..A
minor
If an insured terminates membership in group life insurance, to
what type of insurance can the insured convert the coverage? -
,,,,answer,,,,..Whole life
What universal life option has a gradually increasing cash value
and a level death benefit? - ,,,,answer,,,,..Option A
guide FINAL EXAM NEWEST
2025/2026 COMPLETE 1000+
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED
A+||BRAND NEW!!
,What type of policy is typically issued without proof of
insurability from the insured? - ,,,,answer,,,,..Group policy
A whole life policy that requires that the Policyowner only pays
premiums for a specified number of years is known as what type
of policy? - ,,,,answer,,,,..Limited-pay whole life
Who is entitled to the cash values in an insurance policy? -
,,,,answer,,,,..The Policyowner
An insured receives a monthly summary for his life insurance
policy. He notices that the cash value of the policy is
significantly lower this month than it was last month. What type
of policy does the insured have? - ,,,,answer,,,,..Variable
What happens to the premium in an annually renewable term life
policy? - ,,,,answer,,,,..Premium increases with each renewal
In a joint life policy, when is the death benefit paid? -
,,,,answer,,,,..Upon the first death
In term policies, what happens to the premium throughout the
policy? - ,,,,answer,,,,..It remains level
In variable universal life insurance, to which policy component
does the term variable refer? - ,,,,answer,,,,..Cash value and
death benefit
When the amount of insurance is increased in an adjustable life
policy, what will the insurer require from the insured? -
,,,,answer,,,,..Evidence of insurability
,In what type of life insurance policies can the Policyowner skip
premium payments without lapsing? - ,,,,answer,,,,..Universal
life
A policy states that the insurer will pay a specified face amount
if the insured dies within the 20-year premium paying period
and nothing if he dies after. What type of policy is this? -
,,,,answer,,,,..20-year level term
What does "level" refer to in level term insurance? -
,,,,answer,,,,..Face amount
Between adjustable life and universal life policies, which one
provides more flexibility to the policyowner? -
,,,,answer,,,,..Universal life
What type of life insurance policy offers pure death protection? -
,,,,answer,,,,..Term
What type of policy issues certificates of insurance to the
insureds? - ,,,,answer,,,,..Group policy
What type of life insurance policy provides permanent
protection? - ,,,,answer,,,,..Whole life
What type of whole life policy generates immediate cash value?
- ,,,,answer,,,,..Single premium whole life
What elements of an adjustable life policy can be changed by
the pokicyowners? - ,,,,answer,,,,..The amount and payment
, period of the premium, the face amount, and the period for
protection
What is the purpose of establishing the target premium for a
universal whole life policy? - ,,,,answer,,,,..to prevent the policy
from lapsing
What type of whole life insurance policies only requires a
payment of premium at its inception, and in addition to
providing insurance protection for the life of the insured,
endows at the insured's age 100? - ,,,,answer,,,,..Single premium
whole life
What are the characteristics of the group that underwriters will
consider before issuing a group life policy? -
,,,,answer,,,,..Group's purpose, size, financial strength, and
turnover
Universal life policies have two different types of interest rates.
What are they? - ,,,,answer,,,,..Guaranteed and current
Who is insured under a juvenile life policy? - ,,,,answer,,,,..A
minor
If an insured terminates membership in group life insurance, to
what type of insurance can the insured convert the coverage? -
,,,,answer,,,,..Whole life
What universal life option has a gradually increasing cash value
and a level death benefit? - ,,,,answer,,,,..Option A
