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.

Mortality tablesare statistical charts used by insurers to predict life expectancy and the probability of death at various ages. These tables are based on a large pool ofpeople over time, allowing insurers to estimate risk and set appropriate premiums.

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.