Ohio Insurance Laws and Regulations Practice Exam

In Ohio, a long-term care policy must be ___ renewable.

1. Optionally

2. Guaranteed

3. Conditionally

4. Periodically

The correct answer is: Guaranteed

In the context of Ohio long-term care policies, the term "renewable" means that the policy can be continued or extended beyond its initial term. The word "conditionally" may be tempting, but in this case it does not accurately reflect the requirement set by Ohio state law. Ohio long-term care policies must be guaranteed renewable, meaning that the policy is guaranteed to be renewable as long as the premiums are paid and no fraudulent activities are conducted. "Optionally" suggests that the policy can be renewed at the policyholder's discretion, which is not the case in Ohio. "Periodically" implies that the policy must be renewed at regular intervals, which is not a requirement for long-term care policies in Ohio.