Ohio Life Accident & Health Insurance Exam
Questions and Guide Answers
100% Verified Graded A+
1. What type of policy is typically issued without proof of insurability from the
insured?
Answer: Group policy
2. 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
3. Who is entitled to the cash values in an insurance policy?
Answer: The Policyowner
4. 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
5. What happens to the premium in an annually renewable term life policy?
Answer: -
Premium increases with each renewal
6. In a joint life policy, when is the death benefit paid?
Answer: Upon the first death
7. In term policies, what happens to the premium throughout the policy?
Answer: It remains level
8. In variable universal life insurance, to which policy component does the term
variable refer?
Answer: Cash value and death benefit
9. When the amount of insurance is increased in an adjustable life policy, what
will the insurer require from the insured?
Answer: Evidence of insurability
10. In what type of life insurance policies can the Policyowner skip premium
payments without lapsing?
Answer: Universal life
Questions and Guide Answers
100% Verified Graded A+
1. What type of policy is typically issued without proof of insurability from the
insured?
Answer: Group policy
2. 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
3. Who is entitled to the cash values in an insurance policy?
Answer: The Policyowner
4. 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
5. What happens to the premium in an annually renewable term life policy?
Answer: -
Premium increases with each renewal
6. In a joint life policy, when is the death benefit paid?
Answer: Upon the first death
7. In term policies, what happens to the premium throughout the policy?
Answer: It remains level
8. In variable universal life insurance, to which policy component does the term
variable refer?
Answer: Cash value and death benefit
9. When the amount of insurance is increased in an adjustable life policy, what
will the insurer require from the insured?
Answer: Evidence of insurability
10. In what type of life insurance policies can the Policyowner skip premium
payments without lapsing?
Answer: Universal life
