PSI Ohio Insurance Practice Exam

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Study for the PSI Ohio Insurance Exam. Utilize flashcards and multiple choice questions, with hints and explanations for each question. Prepare confidently for your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is usually the primary objective of life insurance?

To provide investment opportunities
To cover ordinary health expenses
To ease financial burden on beneficiaries after death
To accumulate cash value for the policyholder

The correct answer is: To ease financial burden on beneficiaries after death

The primary objective of life insurance is to ease the financial burden on beneficiaries after the policyholder's death. Life insurance is designed to provide financial security to the surviving dependents or loved ones of the deceased by offering a death benefit that can be used to cover various expenses such as mortgage payments, living expenses, and other financial obligations. This safety net provides peace of mind, knowing that loved ones will have financial support in a difficult time. While other choices may contain elements associated with life insurance, such as cash value accumulation or investment opportunities, these are secondary to the core purpose of providing financial protection to beneficiaries. Covering ordinary health expenses is outside the scope of life insurance, as it typically pertains to health insurance or other forms of coverage specifically for medical care.