State RegulationsOH specificDifficulty 2/5
After purchasing a viatically settled policy, what position does the provider occupy under Ohio law (ORC 3916.01(P))?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
ORC 3916.01(P) makes the provider the purchaser and owner of the settled policy: it assumes the premium obligation, controls the policy, and stands entitled to the death benefit — full ownership, not agency, custody, or a shared beneficiary position.
Why the other options are wrong
- A) The provider is the policy's owner, not a servicing agent acting for the issuing insurer.
- C) The policy no longer belongs to the viator's estate; the provider purchased and owns it outright.
- D) There is no sharing arrangement: the provider succeeds to the full death benefit as owner.
Memory hook
Provider post-purchase = full owner: premiums in, death benefit out.