Ohio accident and health - Study guides, Class notes & Summaries

Ohio laws and rules exam latest update graded A+ Open enrollment for Medicare Supplement coverage starts 3 months before your 65th birthday A viatical settlement broker may NOT make any transactions before being approved for a license A non-admitted insurer is not afforded protection by the guaranty fund An agent's renewal date for his/her license is on or before the last day of the licensee's birth month If an insurer refuses to pay a claim, how many days must the insured...

Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. Correct Answer she must show her Ohio license is in good standing An annuity settlement option with a life contingency is o...

LIFE, ACCIDENT AND HEALTH INSURANCE OHIO EXAM QUESTIONS Which statement BEST describes the tax responsibilities under a Business Overhead policy? a. Premiums are deductible, benefits are deductible. b. Premiums are deductible, benefits are taxed. c. Premiums are not deductible, expenses are deductible. d. Premiums are not deductible, benefits are taxed. - CORRECT ANSWER -Premiums are deductible, benefits are taxed The Group Insurance provision that prevents two insurers from payi...

Life and Health Insurance - Ohio Licensing Exam 100% Pass Absolute Assignment - Answer ️️ -The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - Answer ️️ -A fortuitous event; unforeseen and unintended Accidental Death Insurance - Answer ️️ -A form of health insurance that provides payment if death of the insured res...

Ohio Life and Health Insurance Exam Cram 100% Correct The term describing the insured's notification to the insurer requesting payment for a covered loss is: a. Limit of liability b. Premium c. Claim d. Deductible - Answer ️️ -An insurance claim is the insured's notification to the insurer that a payment is requested for a covered loss. The correct answer is: Claim Which of the following is the consideration an insured pays for insurance coverage? Select one: a. Deductible b. P...

LAWS AND RULES PERTINENT T INSURANCE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED 1. quiz - an insurer must offer a long-term care policy or certificate that has a nonforfeiture value nonforfeiture value - those benefits in a life insurance policy that by law, the policy owner does not forfeit even if the policy owner discontinues premium payments: - usually cash value, - loan value, - paid-up insurance value, - and extended term insurance value 2. quiz - how long can a...

1 OHIO LIFE, ACCIDENT, AND HEALTH INSURANCE/ REVIEW QUESTIONS AND ANSWERS, VERIFIED/ The role of insurance - -transfer the risk of financial loss from an individual or business to an insurance company stock insurance company - -owned by the stockholders, who get paid a share of the company's profit through dividends mutual insurers - -have no stockholders, instead the policyholders own the company Mutualization - -Transformation of a stock insurer into a mutual insurer. Demutualizatio...

1 PRACTICE EXAM - OHIO LIFE AND HEALTH INSURANCE QUESTIONS AND ANSWERS, 100% ACCURATE/ Which of these annuities require premium payments that vary from year to year? - -Flexible Premium Deferred Annuity A limited payment whole life policy provides lifetime protection - -lifetime protection Which of the following does Coordination of Benefits allow? - -Which of the following does Coordination of Benefits allow? Allows the secondary payor to reduce their benefit payments so no more than ...

Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. - she must show her Ohio license is in good standing An annuity settlement option with a life contingency is one that: pays annu...

LIFE, ACCIDENT AND HEALTH INSURANCE OHIO EXAM QUESTIONS Which statement BEST describes the tax responsibilities under a Business Overhead policy? a. Premiums are deductible, benefits are deductible. b. Premiums are deductible, benefits are taxed. c. Premiums are not deductible, expenses are deductible. d. Premiums are not deductible, benefits are taxed. - CORRECT ANSWER -Premiums are deductible, benefits are taxed The Group Insurance provision that prevents two insurers from payi...