State RegulationsOH specificDifficulty 1/5
Under ORC 3911.09(A), a person may insure their own life for the benefit of which of the following?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
ORC 3911.09(A) permits any person to insure their own life for the benefit of a spouse, children, other dependents, a qualifying charitable institution, or a creditor named in the policy, defining the permitted beneficiary classes for self-owned coverage.
Why the other options are wrong
- A) A premium-sharing business associate is not one of the beneficiary classes listed in ORC 3911.09(A).
- C) The statute is broader than spouse and blood relatives — it also covers other dependents, a qualifying charitable institution, and a named creditor.
- D) ORC 3911.09(A) allows a creditor named in the policy, but it is not limited to licensed lending institutions.
Memory hook
Own-life beneficiaries: spouse, kids, dependents, charity, named creditor — memorize the five.