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

According to Ohio Administrative Code 3901-5-09, insurers are required to notify the superintendent within 30 days after the termination of an agent’s appointment. This ensures that the state maintains accurate records of active and terminated appointments

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.

Adverse selection occurs when individuals with higher-than-average risk are more likely to seek or continue insurance coverage. In group life insurance, insurers use underwriting guidelines and participation requirements (e.g., minimum group size, employer-employee relationship) to avoid insuring groups that disproportionately consist of high-risk individuals. The goal is to ensure a balanced risk pool.