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

Reinsurers form a separate segment of the insurance industry by providing coverage to primary insurance companies. This process, called reinsurance, allows insurers to reduce their exposure to large losses by sharing risks with another company. This enhances the stability and solvency of the insurance system.

During the accumulation period of an annuity, the policyowner holds the rights to the contract, including the ability to surrender the annuity. Surrendering the annuity means the policyowner can terminate the contract and receive the accumulated value, subject to any applicable surrender charges or tax implications. The annuitant is the individual whose life expectancy is used to determine the annuity payments, but they do not have ownership rights unless they are also the policyowner.

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