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."

Under Ohio regulations governing viatical settlements, insurers are required to respond to a verification of coverage request within 30 calendar days. This ensures timely processing and supports consumer protection during transactions involving the sale of life insurance policies.

A hazard is any condition or behavior that increases the likelihood of a loss occurring. Hazards are categorized as physical, moral, or morale. For example, driving under the influence is a hazard because it elevates the chance of a car accident. In contrast, a peril is the actual cause of loss, such as fire or theft.