OH-Life-Agent-Series-11-44 Exam Dumps : OHIO Life Insurance Agent Series 11-44

Risk avoidanceinvolveseliminating exposure to risk altogether. Choosingnot to go skydivingavoids the risk entirely, making it the correct method in this context.

"Risk avoidance means eliminating the risk entirely, such as choosing not to participate in a hazardous activity like skydiving."

Decreasing term insurance provides a death benefit that reduces over time, typically in line with the declining balance of a mortgage. This makes it a low-cost option for mortgage protection. Since the coverage decreases with the loan, the premium is generally lower than level term insurance.

During the accumulation period of an annuity, the policyowner holds the rights to the contract, including the ability to surrender the annuity. Surrendering the annuity means the policyowner can terminate the contract and receive the accumulated value, subject to any applicable surrender charges or tax implications. The annuitant is the individual whose life expectancy is used to determine the annuity payments, but they do not have ownership rights unless they are also the policyowner.