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

Key person insurance is purchased by a business on the life of a key employee—someone whose knowledge, work, or overall contribution is essential to the business’s success. If the key employee dies or becomes disabled, the policy pays a benefit to the company to offset lost income, training of replacements, and potential business disruption.

A "Period Certain" annuity, also known as a "term certain" or "fixed period" annuity, guarantees payments for a specified period, such as 10, 15, or 20 years, regardless of whether the annuitant lives or dies during that period. If the annuitant dies before the end of the period, the remaining payments are made to a designated beneficiary. This option provides a predictable income stream for a set duration.

Under Ohio insurance regulations, HIV testing as part of the underwriting process requires informed consent. The applicant must be notified in writing and must sign a consent form prior to the test. This ensures compliance with privacy and discrimination laws and protects the rights of the applicant.