Insurance Licensing OH-Life-Agent-Series-11-44 Exam With Confidence Using Practice Dumps

Nonforfeiture provisions in whole life insurance policies provide options to the policyholder if they stop paying premiums. One such option is extended term insurance, where the policy's cash value is used to purchase term insurance with the same face amount as the original policy for as long a period as the cash value allows.

According to the Ohio Life Insurance Study Guide:

"Under the nonforfeiture provision, a policyholder may choose extended term insurance, which uses the policy's cash value to provide term coverage equal to the original face amount for a limited time."

According to Ohio Revised Code Section 3905.55, an insurance agent may charge a fee to a consumer only if:

The fee is disclosed separately from the premium.

The fee is not refundable.

The consumer consents to the fee.Submitting an initial application for coverage is not a condition that permits charging a fee. Therefore, option C is the correct answer as it does not meet the stipulated conditions.

Under Ohio Revised Code Section 3965.02, each licensee is required to develop, implement, and maintain a comprehensive written information security program based on the licensee's risk assessment. This program must include administrative, technical, and physical safeguards for the protection of nonpublic information and the licensee's information system.