Ohio Life Insurance Final Exam correct 100%

Which of the following is usually the owner of the annuity? - ANSWER The annuitant Which of the following is not true of the straight life income option for annuities? - ANSWER 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: - ANSWER That he/she has an insurable interest Tax-sheltered annuities (TSA) provide retirement income for employees who work for: - ANSWER A nonprofit organization Which of the following statements regarding policy loans from personal life insurance policies is not true? - ANSWER When a personal life insurance policy endows, the amount of any unpaid loan plus interest is not deducted from the policy proceeds. When the only logical beneficiary is a minor, all of the following options are available, EXCEPT: - ANSWER The benefits can go directly to the estate of the insured All of the following are major factors in the determination of premiums for life insurance, EXCEPT: - ANSWER Marital status