Ohio Insurance Laws and Regulations Practice Exam

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In a local Ohio newspaper, when an insurance company advertises an accident and health insurance product referring to dollar amount benefits, it must also disclose?

  1. The company's contact information

  2. Any applicable benefit reduction

  3. The number of policyholders

  4. Privacy policies

The correct answer is: Any applicable benefit reduction

The company must disclose any applicable benefit reduction to provide full transparency to potential customers about the coverage they will receive. Failing to disclose this information can potentially mislead customers and result in dissatisfaction if they discover reduced benefits after purchasing the insurance product. Option A is incorrect because providing contact information alone does not give a clear understanding of the benefits and coverage offered. Option C is incorrect because stating the number of policyholders does not provide relevant information about the benefits themselves. Option D is incorrect because while privacy policies are important to disclose, they are not specifically related to the benefits being advertised.

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