Ohio Course Update July 2018
Addendum: for use with Ohio Life ExamFX course and study guide version 20525en, per exam outline update effective 7/1/18.
The following are content additions to supplement your existing text unless otherwise indicated:
Life Insurance Policies
C. Flexible Premium Policies
3. Variable Universal Life – new section
Variable universal life is a combination of universal life and variable life. Like universal life, it provides the policyowner with flexible premiums and an adjustable death benefit. Like variable life, the policyowner rather than the insurer, decides where the net premiums (cash value) will be invested. Also, like variable life, the cash values are not guaranteed, and the death benefit is not fixed. The cash value and/or death benefit may increase or decrease over the life of the policy depending on the investment performance of the underlying sub-account. The death benefit, however, generally cannot decrease below the initial face amount of the policy. A producer must also be licensed for both securities and life insurance in order to sell variable universal life.
Insurance Regulation
B. State Regulation
3. Agent Regulation
Consumer Information/Fees – addition to existing text
Personal information refers to an individual's identifiable information gathered in connection with an insurance transaction. This includes the individual's name, address and medical records. However, it does not include privileged information. Personal information can be used to make judgements about an individual's
- Character;
- Habits;
- Avocations;
- Finances;
- Occupation;
- General reputation;
- Credit;
- Health; or
- Other personal characteristics