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

If no premium was paid with the application, the agent mustcollect the premium,obtain a statement of continued good health, andexplain the policyupon delivery. However, there isno requirement to re-sign the applicationunless changes have been made.

"When the initial premium is not submitted with the application, the producer must obtain a statement of continued good health, collect the premium, and deliver the policy with explanation. Re-signing the application is not required unless changes occur."

Alife annuity certainensures that payments will continue for aspecified periodeven if the annuitant dies before that time. If the annuitant dies early, the payments go to a beneficiary for the remaining period.

"An annuity certain guarantees payment for a fixed period, regardless of whether the annuitant is alive for the entire period. If death occurs, payments continue to a named beneficiary."

A Variable Universal Life (VUL) policy is a type of permanent life insurance that combines the flexible premium and adjustable death benefit features of universal life insurance with the investment options of variable life insurance. Policyholders can allocate a portion of their premium payments to a variety of investment options, such as stocks and bonds, allowing for potential growth of the policy's cash value. However, this also introduces investment risk, as the cash value and death benefit can fluctuate based on market performance.

According to the Ohio Life Insurance Study Guide:

"Variable universal life insurance combines the features of universal life insurance with investment options, allowing policyholders to invest the cash value in various separate accounts."