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The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - cancelable Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? The policy automatically converts to whole life after the 10-year period - The face amount and premium will remain constant over the 10 year period Which of the following provides Medicare supplement policie...

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Ohio Health Insurance Exam Questions and Answers 100% Correct Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? A.) Guaranteed insurability rider B.) Additional coverage rider C.) Paid-up option rider D.) Extended insurability rider Guaranteed insurability rider All of the following are included as part of...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally perm

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) Insurance - CORRECT ANSWER A contract that indemnifies another against loss, damage, or liability Indemnify - CORRECT ANSWER To make one whole by restoring them to the same financial position that existed before the loss Pure risk - CORRECT ANSWER There is only a chance of loss and there is no possibility for gain (insurable) Speculative risk - CORRECT ANSWER Uncertainty of loss or g...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSWER with another licensed agent The waiver ...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER A minimum of 12 months after date of purchase Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSWER with another licensed agent The waiver ...

The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - correct answer cancelable Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? The policy automatically converts to whole life after the 10-year period - correct answer The face amount and premium will remain constant over the 10 year period Which of the following prov...