State RegulationsOH specificDifficulty 2/5
An Ohio life insurer designs a new individual life policy form it plans to market to consumers. Under Ohio law, the insurer must:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Ohio requires life insurers to submit their policy forms to the Superintendent of Insurance for review and approval before the forms are used, under the life form-filing law ORC 3915.14. The filing-and-approval process lets the Department verify that the form complies with Ohio's required and prohibited provision statutes before any consumer receives it, so marketing or issuing from an unapproved form is a compliance violation.
Why the other options are wrong
- A) There is no post-sale filing window; the form must be filed with and approved by the Superintendent before the policy is marketed or issued.
- B) Individual life policy forms are not exempt; ORC 3915.14 requires the filing for approval before use.
- C) A competitor's complaint has nothing to do with the filing duty; the insurer's obligation to file for approval exists independently of any complaint.
Memory hook
File first, sell second: life policy forms go to the Superintendent before use.