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

TheWaiver of Premiumrider does not increase the death benefit amount. Instead, it waives the policyholder's obligation to pay premiums if they become totally disabled, ensuring the policy remains in force during the period of disability.

In contrast:

Cost of Livingrider adjusts the death benefit to keep pace with inflation, thereby increasing the benefit amount over time.

Accidental Death Riderprovides an additional benefit if the insured dies due to an accident, effectively increasing the total payout.

Guaranteed Insurabilityrider allows the policyholder to purchase additional coverage at specified times without undergoing a medical exam, thus potentially increasing the death benefit.

Fixed annuities are insurance contracts that provide a guaranteed interest rate and fixed periodic payments to the annuitant. The funds in a fixed annuity are invested in the insurance company's general account, not in a separate account. Separate accounts are associated with variable annuities, where the investment risk is borne by the policyholder.

According to the Ohio Life Insurance Study Guide:

"In a fixed annuity, the insurance company guarantees both the rate of return and the payout amount. The funds are invested in the insurer's general account."

If an annuitant dies during the accumulation period of a deferred annuity, the accumulated cash value is typically paid to the designated beneficiary. The death benefit is usually the greater of the accumulated value or the guaranteed minimum, depending on the terms of the annuity contract. This ensures that the funds contributed to the annuity are not lost and provide financial support to the beneficiary.