Ohio life i - Study guides, Class notes & Summaries

What type of report provides information about an applicant's hobbies, habits, and financial status? - CORRECT ANSWER-Investigative consumer report What are the three factors that determine the premium for a particular life insurance policy? - CORRECT ANSWER-Mortality, interest, expense How does the premium mode affect the total premium paid for insurance for the year? - CORRECT ANSWER-Higher frequency of payments will result in higher overall premium Can insurers advertise the existence ...

To qualify for appointment of agent Answer - 18 YOA, US citizenship not required, no minimum residency Original certificate good for.... Answer - 180 days Renewal for license Answer - beinnially on birth month, $5 fee Types of risk Answer - Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk Answer - avoid it retain it - self insurance reduce it share it transfer it - buy insurance, spreads risk to large group Mortality Rate Answer -...

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Perils: - ️️The causes of loss insured against in an insurance policy. -Life insurance -Health insurance -Property insurance -Casualty insurance Direct response marketing: - ️️A direct response marketing system effectively bypasses the insurance agent. Business is conducted over the phone, through the mail, or online. This is a perfectly legal approach to selling insurance. It is not mandatory in all situations for the insured to physically sign any documents in order for coverag...

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Which settlement option involves having the proceeds remain with the insurer and earnings paid on a monthly basis of the beneficiary - ️️interest only An insurance company needs to obtain personal information from a third party concerning an applicant. Which law do all insurers and their producers need to comply with - ️️Fair credit Reporting Act the superintendent determines an examination of an insurers books and record is necessary. After receiving the notification, the insurer ...

OHIO Life Insurance Exam Questions and Correct Answers.OHIO Life Insurance Exam Questions and Correct Answers.