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

The IRS mandates that to maintain the tax-deferred status of funds, a rollover from one Traditional IRA to another must be completed within 60 days of receiving the distribution. Failing to do so may result in the distribution being treated as taxable income, and if the account holder is under age 59½, it could also be subject to a 10% early withdrawal penalty.

Under Ohio law, the superintendent of insurance has the authority to access the books, records, and documents of insurers and their agents during examinations or investigations. Agents are required to make these records available upon the superintendent’s request.

A waiver of premium rider allows the policy to remain in force without premium payments if the insured becomes totally disabled and meets the terms of the rider. Once activated, the insurance company waives the premium payments, and the policy continues as if payments were being made. The cash value and death benefit remain unaffected, ensuring full policy performance.