Life Insurance Companies and Contracts

What this document is

Ohio Revised Code Chapter 3911 - Life Insurance Companies and Contracts (22 sections) is a state statute published by Ohio Legislative Service Commission, codes.ohio.gov (retrieved via an Internet Archive snapshot of the official site). It is one of the Ohio documents that insurance license exam questions are written from, including ohio life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Ohio Rev. Code Chapter 3911 § 3911.20 (Receipt of rebates prohibited)

  “No person shall receive or accept from any company, agent, subagent, or any other person any such rebate of premium payable on the policy, or any special favor or advantage in the dividend or other benefits to accrue thereon, or any valuable consideration or inducement not specified in the policy of insurance.”

• Ohio Rev. Code Chapter 3911 § 3911.18 (Discriminations by agent of life insurance company prohibited)

  “No person, for himself or as officer, agent, solicitor, employee, or representative of a life insurance company doing business in this state, shall make or permit a distinction or discrimination in favor of individuals between any insured persons of the same class and of equal expectation of life...”

• Ohio Rev. Code Chapter 3911 § 3911.04 (Copies of Applications to Accompany Policies Issued)

  “Every life insurance company doing business in this state shall return with, and as part of any policy issued by it, to any person taking such policy, a complete copy of each application or other document held by it which is intended in any manner to affect the force or validity of such policy. A...”

• Ohio Rev. Code Chapter 3911 § 3911.05 (Language of Application)

  “No life insurance company doing business in this state shall take any application, medical certificate, or other document, for insurance upon the life of any person, in cipher or by character of any sort other than ordinary written or printed language. Any application, medical certificate, or other...”

• Ohio Rev. Code Chapter 3911 § 3911.20 (Bonuses and industrial insurance excepted)

  “This section does not prohibit any company issuing nonparticipating life insurance from paying bonuses to policyholders or otherwise abating their premiums out of surplus accumulated from nonparticipating insurance; nor does it prohibit any company which transacts industrial insurance on the weekly...”

• Ohio Rev. Code Chapter 3911 § 3911.09(B)(1) (Beneficiaries; Charitable Institutions)

  “Any religious, charitable, scientific, literary, educational, or other institution or entity that is described in section 170, 501(c)(3), 2055, or 2522 of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 170, 501, 2055, 2522, as amended, may be the owner of, or may be designated...”

• Ohio Rev. Code Chapter 3911 § 3911.10 (Exemption of Proceeds From Claims of Creditors)

  “Subject to the statute of limitations, the amount of any premium upon such contracts, endowments, or annuities, paid in fraud of creditors, with interest thereon, shall inure to their benefit from the proceeds of the contracts, but the company issuing any such contract is discharged of all...”

• Ohio Rev. Code Chapter 3911 § 3911.03 (Copies of Applications and Documents)

  “Upon demand made for such copy by the holder of a policy, or by any person upon whose life it was so issued, the company shall make and forthwith furnish to such holder or person a certified copy of all such applications or friends' certificates, under the hand of the president, secretary, or other...”

• Ohio Rev. Code Chapter 3911 § 3911.06 (False Answer)

  “No answer to any interrogatory made by an applicant in his application for a policy shall bar the right to recover upon any policy issued thereon, or be used in evidence at any trial to recover upon such policy, unless it is clearly proved that such answer is willfully false, that it was...”

• Ohio Rev. Code Chapter 3911 § 3911.21 (Revocation of license for discrimination)

  “The superintendent of insurance, upon conviction of any life insurance company, or of any agent thereof, for violation of sections 3911.19 or 3911.20 of the Revised Code, or upon his being satisfied of the violation of either of said sections and after reasonable notice to the accused of the time...”

• Ohio Rev. Code Chapter 3911 § 3911.24 (Revocation of License for Misrepresentation)

  “Upon the conviction of any person, firm, association, or life insurance company for violating section 3911.23 of the Revised Code, the superintendent of insurance shall revoke the license of such person, firm, association, or life insurance company for not less than one year.”

• Ohio Rev. Code Chapter 3911 § 3911.11 (Married Person May Insure Life of Spouse)

  “A married person may individually and in such person's own name, or in the name of a third person with assent as the third person's trustee, cause the life of the person's spouse to be insured for such person's sole use, for any definite period or for the term of the natural life of such spouse,...”

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