Ace the Ohio Insurance Laws Test 2025 – Master the Rules and Rule Your Future!

Question: 1 / 400

An example of replacement is:

Buying additional coverage on an existing policy

Canceling a term life policy to buy a whole life policy

One reason why the other options may be incorrect is that they are not considered replacements. A and C involve adding or renewing coverage to an existing policy, rather than completely replacing it. D does not involve replacing a policy at all, but simply changing the designated beneficiary. Option B is the only example that involves replacing an existing policy with a different one.

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Renewing a term policy

Switching beneficiaries

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