Free Life Policy Provisions Options and Riders Practice Questions
Ohio Life exam (series 11-44) — 141 practice questions.
Subtopics: Grace period, Incontestability, Claim settlement, Reinstatement, Misstatement of age, Nonforfeiture, Waiver of premium, Accelerated death benefit, Beneficiary, Entire contract, Representations, False answers, Policy loans, Loan interest, Loan forfeiture, Prohibited provisions, Premium payment, Nonforfeiture table, Dividend option default, Divorce and beneficiary, Creditor protection, Accelerated benefits, Accelerated benefit claims, Ownership, Assignment, Collateral assignment, Suicide clause, Beneficiary primary, Contingent beneficiary, Revocable beneficiary, Irrevocable beneficiary, Per stirpes, Common disaster, Spendthrift clause, Settlement lump sum, Interest only, Life income option, Fixed period option, Fixed amount option, Cash surrender, Reduced paid-up, Extended term, Automatic premium loan, Policy loan, Partial withdrawal, Dividends not guaranteed, Paid-up additions, Accumulation at interest, Reduction of premium, Payor benefit, Accidental death rider, Guaranteed insurability, Cost of living rider, Long-term care rider, Spouse and child riders, Aviation exclusion, War exclusion, Retained asset account, Incontestability clause, Cash surrender value option, Surrender charge, Maturity date provision, Policy loan interest rate, Cash value deferment clause, Change of plan provision, Exchange privilege, One-year term dividend option, Cash dividend option, Per capita designation, Minor beneficiary, Estate as beneficiary, Class designation, Facility-of-payment clause, Uniform Simultaneous Death Act, Survivorship time clause, Changing the beneficiary, Accelerated death benefit rider, Disability income rider, Return of premium rider, Waiver of monthly deduction rider, Critical illness rider, Term insurance rider, Accidental death and dismemberment rider, Hazardous occupation exclusion, Commission-of-a-felony exclusion, Hazardous hobby exclusion, Default nonforfeiture option, Guaranteed policy loan value, Contestable period after reinstatement, Assignment notification, Third-party ownership, Automatic dividend application, Creditor protection of proceeds, Trust as beneficiary, Owner's right to dividends, Contingent owner, Net cash surrender value, Accidental death benefit, Incontestable exception, Incontestable typical period, Grace period standard, Grace period length, Reinstatement window, Reinstatement advantage, Suicide clause period, Misstatement of sex, Free look refund, Change of beneficiary, Primary beneficiaries share, Tertiary beneficiary, No beneficiary living, Settlement interest taxation, Life income period certain, Settlement option choice, Extended term duration, Nonforfeiture purpose, Policy loan unpaid lapse, Automatic premium loan election, Dividend options default, Accelerated benefit effect, Accelerated benefit tax, Chronic illness rider, Waiver of premium waiting, Guaranteed insurability options, ADB time limit, Accidental death exclusions, Other insured rider conversion, Assignment and beneficiary, Payor rider ends
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. Ohio's required life policy provisions call for a grace period on premiums after the first of:
One month
Ohio Rev. Code 3915.05(B) requires a grace of one month for every premium after the first, during which the insurance remains in force.
2. After a life policy has been in force for how long may the insurer generally no longer contest it absent fraud?
2 years
Ohio requires the policy to be incontestable after it has been in force during the insured's lifetime for not more than two years, except for nonpayment of premium and certain listed provisions.
3. Under Ohio's required life policy provisions, a death claim must be settled upon receipt of due proof of death, or no later than:
2 months after proof
Ohio Rev. Code 3915.05(K) requires settlement upon receipt of due proof of death, or not later than two months after receipt of the proof.
4. Ohio's standard provisions generally allow reinstatement of a lapsed life policy within:
3 years
Ohio standard provisions require allowing reinstatement within 3 years, subject to conditions.
Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
