This period of time is called a term. Think of it like car insurance. Answer a: False. a) Existing life insurance, income needs and immediate cash needs. Most life insurance carriers will require a medical exam in order to approve you for coverage. You get your money back if you don’t die before your term policy ends. Also, these policies don’t follow you if you leave your job. There are many variables in different insurance coverages and companies, including various insurance company standards and offerings and underwriting requirements. c. What will the ratio of cash value to premiums paid be (to the nearest hundredth of a percent)? Insurance Awareness Quiz Questions and Answers PDF MCQ. Connect with her on LinkedIn. Some carriers do offer no-exam policies, but you need to qualify for these by being in excellent health and within a certain age range. Insurance Awareness Multiple Choice Questions for LIC, NIACL and other competitive exams. Is Term Life Insurance Better than Whole Life Insurance? Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty … Repeated trips, especially to politically unstable countries, are subject to a rated policy. document.getElementById("copyright_year").innerHTML = d.getFullYear(); Play this game to review Corporate. Since the purpose of the month is awareness and not about passing the LLQP, the questions will be geared towards beginners. d) 51% . Just because you don’t file a claim, doesn’t mean you get your money back. Why do most people invest in life insurance polices? a. Your email address will not be published. Mathematics. Professional Development. Either convert your term policy into a permanent policy or buy an altogether brand new term policy. A. Which of the following factors are likely to increase your insurance premiums? True or false? True or false? 6. Since the purpose of the month is awareness and not about passing the LLQP, the questions will be geared towards beginners. How did you do? Learn more in this blog:  Life Insurance: Do You Need Ten Times Your Salary? True or false? What you can do, however, is be sure to leave instructions in your will as to how your pet should be cared for. We recognize that these times are challenging and wanted to provide an overview of the actions Brian So Insurance is taking to protect the health and safety of our clients. Life Insurance Quiz. True or false? And apply easily online. False. One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. Insurance MCQ Questions and answers with explanations. 10. For most working individuals, this amount is not enough to protect your family financially if you were to die and your income was suddenly gone. 6. a) The death certificate is proof that the life insured is deceased, while the claim form serves to outline the claim by the beneficiary. Write. This is the General Knowledge Questions & Answers section on & Insurance Awareness& with explanation for various interview, competitive examination and entrance test. e) None of These. Insurable interest is when your finances would be negatively affected as a direct result of another person’s death. Edit. 0. 3. b) 50%. I handle many commercial clients and people make claims against them. We recommend that you always supplement your work life insurance policy with a personal life insurance policy. If you buy a term policy with a 20-year term length, your coverage expires in 20 years. A conditional premium receipt is issued when the applicant pays the first premium of their life insurance. Traditional life insurance policies are fully-underwritten, which means that all the information gathered from your medical exam, plus medical records, are sent to life insurance underwriters. Compare the best prices from the names you know and trust, all in one place with no commitments. Insurance Awareness Quiz with Answers Facebook; Twitter; Telegram; Email; Whatsapp; Published on Thursday, August 13, 2015 By - Unknown. True or false? Trivia Questions. by Natasha Cornelius | Jan 4, 2018 | InsuranceLife | 0 comments. as well as Board exams. Ready to compare quick life insurance quotes? There aren’t many better ways of education than a knowledge test. Some are hotels, some are malls, some is auto, and even casinos. True or false? Therefore, below is a short quiz on life insurance. We encourage you to visit the World Health Organization website and your local government health authority websites for the most up-to-date and reliable information about the status of the coronavirus in your region. Edit. 66% average accuracy. Because of these two factors, whole life insurance is roughly ten times more expensive than a term policy. 6. 7. At the renewal of a term insurance policy: a) You have to qualify again medically to continue coverage, c) You have to pay the increased rate to continue coverage. You can be both the owner and the insured and your spouse would be listed as beneficiary. In the past few months, we have seen extraordinary measures to safeguard everyone’s wellbeing. A whole life policy is a permanent policy and, in addition to accumulating a cash value, will last your entire life. Limit of FDI in Insurance sector : a) 47%. Can I Buy Life Insurance on Someone Else? True or false? Insurance quiz. True, most of the time. In minutes, you can see prices and compare policies from top-rated life insurance companies all at once. The younger and healthier you are, the cheaper your policy and you can lock in that low rate. For most working individuals, this amount is not enough to protect your family financially if you were to die and your income was suddenly gone. 1. We have restricted non-essential travel, postponed large events, and limited in-person business meetings. Answer the following multiple-choice questions, then click on the ‘Submit’ button to reveal which questions you answered correctly and see how well you scored: Please check the form for missing information or errors. Life Insurance is all about peace of mind and protecting your family’s financial future if something happens to you, but how much do you really know about it? True or false? You can even go one step further and create a Pet Trust and name the trust a beneficiary of your life insurance policy. At the end of 10 years what will the cash value of his policy be? Want to see what you’d pay for life insurance? At the end of the term, your policy expires. Flashcards. The individual who receives a death benefit if you die is the beneficiary. As you would expect, we have a business continuity plan in place, that is regularly tested and enhanced, to ensure that operations continue to run effectively. Preview this quiz on Quizizz. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. 2. b) Your coverage decreases at the same rate you pay off the principal of your mortgage, so you are receiving a lower benefit for the same amount of premium. 7. b) Men have a lower life expectancy than women. Can I Buy Life Insurance if I Am Considered High Risk? If he chooses, he can ... f an insurance company issues a policy even though some questions on the application were unanswered, when can the insurer get the answers to those questions? During these times of physical distancing, you can still get the expertise that we offer online and over the phone. (844) QUOTACY, Designed by Elegant Themes | Powered by WordPress. Become a part of our community of millions and ask any question that you do not find in our Life Insurance Q&A library. What is the difference between Term Life Insurance and Whole Life Insurance? If your next place of work doesn’t offer this benefit, you suddenly are without coverage. Browse from thousands of Life Insurance questions and answers (Q&A). 5. These underwriters assess each detail and determine the statistical chances of you dying early. While the industry rule of thumb is that you should own ten times your salary, this calculation isn’t right for everyone. A new Insurance quiz every hour! Gravity. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. “No-questions-asked life insurance”, also known as guaranteed issue life insurance, is a policy which ensures your acceptance regardless of your current or past health challenges. Life insurance is often viewed as a confusing topic. Save. True. This is why we always recommend that you buy a policy as soon as you have a need for it. You want to make sure you understand what you’re getting, or else it may affect your loved ones. Learn more about how to protect your pet in this blog:  Pet Trusts and Estate Planning for Your Pets. True or false? Competency: Recommend individual and group life insurance products adapted to the client’s needs and situation (01 311). 4. With an employer group plan, the amount of coverage you have is typically one or two times your annual salary. 1. Don’t worry, it’s much easier than a job interview. The most common term lengths are 10, 15, 20, 25, and 30 years. The FCRELCLA makes it clear that the only way to receive payment is if a broker has a written brokerage agreement with _____, specifying the acts that trigger the earning of a real estate commission. If you get stuck, here’s a hint – all the answers can be found somewhere on our website. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. You cannot buy life insurance on someone without insurable interest. A term policy is typically the right choice of coverage for most people, but permanent insurance has its benefits too. PLAY. The quiz and worksheet will help measure your understanding of term life insurance. Learn more in this blog:  Is Term Life Insurance Better than Whole Life Insurance? var d = new Date(); Life insurance doesn’t have to be boring. Which of the following is not required for a life insurance claim? People identified as bad risks are likely. Created by. Take our life insurance quiz to test your knowledge! Answer the following multiple-choice questions, then click on the ‘Submit’ button to reveal which questions you answered correctly and see how well you scored: To pay more for protection. How much do you really know about life insurance? This mock test having 40 questions in General Insurance, with four choices. Save. Our FAQ page is a great resource if you want to learn more. 2. Most Read; Give Answer ; What is the difference between a conditional premium receipt and a binding premium receipt? Did you get 7 out of 7? If you didn’t get very many correct, that’s perfectly OK! Your existing life insurance coverage is subtracted from all of this to determine your current life insurance needs. True or false? An individual has a $200,000 convertible term life insurance policy. These short solved questions or quizzes are provided by Gkseries. Do I Need Individual Life Insurance if I Have Group Life Insurance? Why Use an Online Life Insurance Calculator. You need to have a medical exam in order to buy life insurance. False. d. lack of liquidity. True or false? If you find yourself in need of more coverage, most carriers allow you to renew your term policy, but the premiums often increase drastically so we typically recommend you go with a different option. How much do you really know about life insurance? Learn more about these options in this blog:   My Term Policy is Going to Expire – What Can I Do? Copyright © A. 8. We’ll contact you by phone or online to collect any other required information if needed. True. Question 1: This insurance provides coverage for a specific period of time, usually from one to 30 years: Universal Life Insurance Whole Life Insurance None of the above Term Life Insurance Question 2: The cash surrender value of a permanent life insurance is: Also called the death benefit. True or false? as well as Board exams. A term life insurance policy lasts a specific period of time. A comprehensive database of more than 102 insurance quizzes online, test your knowledge with insurance quiz questions. If you’re worried your family won’t have a financial cushion if something happens to you, it’s time to get serious about getting a policy. Do I Need a Medical Exam to Get Life Insurance? c) 49%. False. . True or false? Don’t worry if you didn’t get a perfect score, as even some professionals in the financial services and insurance industry may get 1 or 2 wrong. sonia_09899. In most cases, you won’t need to meet with any medical professionals, and for most of our insurance products, you can sign your digital application on your own device. With a traditional term life insurance policy, you do not receive any premiums back if you do not die within the term. False. Learn more about policy ownership in this blog:  Who Can Own a Life Insurance Policy? 3. Q2. Learn more in this blog:  What Happens If I Don’t Die While My Policy Is Inforce? a year ago. We are confident that with our plans, we will continue to serve our clients as we always have, compassionately and professionally. 11th - University grade. This is a quiz for your Insurance mastery. With an employer group plan, the amount of coverage you have is typically one or two times your annual salary. Property owner B. Solved examples with detailed answer description, explanation are given and it would be easy to understand A smoking status does not call for a rated policy, but rather a standard smoker rate that is higher than a standard nonsmoker rate.- Answer b: Correct answer. 5. c) A working class individual with a family dependent on his income has the highest need for life insurance, since his passing will cause a financial catastrophe for the entire family. Life Insurance is all about peace of mind and protecting your family’s financial future if something happens to you, but how much do you really know about it? 4. c) At the renewal of a term insurance policy, rates will increase to reflect the higher risk you represent. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. The phone interview is used to verify your answers to the life insurance application questions. Check Insurance Awareness General Knowledge Questions from here. Recent Scores. In a 1031 Exchange Like Transaction, who is in charge of holding the money generated by the sale? Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. We’re a life insurance broker that helps you cast a wider net. Questions. True or false? Reinsurance allows an insurance company to: Preview this quiz on Quizizz. This True or False quiz will test your life insurance basics knowledge. True or false? Life insurance basics is an important buying decision. If you have life insurance through your job, you don’t need a personal life insurance policy. Insurance Multiple Choice Questions and Answers for competitive exams. Pop Quiz: 5 fun (yes, fun) life insurance facts. Learn more about life insurance medical exams in this blog:  Do I Need a Medical Exam to Get Life Insurance? 0. Your life insurance needs is a factor of what? Your neighbor’s life has no bearing on your finances. You’ll only be working with us and the life insurance company you choose. Take this quiz to see where your knowledge gaps are. To continue coverage, you must accept the new rates. Life & Health Insurance Exam. Who are preparing for the competitive exams or planning to attend any interview can check the Insurance Awareness General Knowledge Online Test. This True or False quiz will test your life insurance basics knowledge. Therefore, below is a short quiz on life insurance. If you have life insurance through your job, you don’t need a personal life insurance policy. Take insurance quiz questions and answers to test your knowledge on “Basics of Insurance for Beginners module”. You get your money back if you don’t die before your term policy ends. 88 times. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. We understand COVID-19 has had a huge financial impact on people and their ability to pay premiums. Which of the following demographics have the highest need for life insurance? Firstly, there is a graded benefit clause which will not pay the full death benefit amount should you pass away during the first two policy years. Don’t I have life insurance through my employer already? With many resources online from insurance companies such as Sun Life and Manulife, to non-profit organizations such as the Canadian Life and Health Insurance Association, there is no excuse for remaining in the dark about life insurance. There are three caveats to these plans. Practice Free Study Material for LIC AAO 2020, get Insurance and Financial Market Awareness Questions Quiz With Explanation for LIC AAO 2020, Download PDF of LIC AAO Pre Arithmetic Questions with Solution at Free Of Cost, Learn How to Solve LIC AAO Insurance and Financial Market Awareness Problems Fast, Get all types of Insurance and Financial Market Awareness Question and Answer for all … Life insurance is not one-size-fits-all. Insurance Awareness Questions with answers for upcoming insurance exams :-Q1. Insurance policies described, quoted, shown, and illustrated throughout this website are not an offer for the sale of any particular insurance policy or product, only an invitation for application for insurance coverage and may not be relied upon. Minneapolis, MN 55441 My Term Policy is Going to Expire – What Can I Do? 5. Examples of exam questions – Life insurance . © 2020 Quotacy, Inc. All Rights Reserved. In fact, it can be downright amusing! Insurance MCQ Questions is important for the preparation of exams like LIC EXAM, IRDA, UIIC, NICL, NIACL, and OICL. Spell. These short solved questions or quizzes are provided by Gkseries. False. other reasons to avoid mortgage life insurance, Canadian Life and Health Insurance Association. How does liability work you ask? Your email address will not be published. noahdeese14. She can't get enough of life insurance and outside of work is also working toward her Chartered Life Underwriter designation. Sure, assuming your employer offers coverage and you’ve signed up. Take our quiz and find out. But, odds are, that coverage is inadequate. c. disabilities. b. improper management. A young married Dad is applying for life insurance. Over 65 quiz questions in rotation. You can name your dog as your life insurance policy’s beneficiary. In fact, according the 2015 Insurance Barometer study conducted by worldwide research organization LIMRA and non-profit Life Happens, 38 percent of consumers did not purchase (or did not purchase more) life insurance because they found life insurance research to be confusing. If you have a basic knowledge of life insurance, you should be able to get most of them correct. (844) 786-8229 Question 1 . Term life insurance is less expensive than whole life insurance. We can work with you to find different options that meet your personal circumstances, including flexibility within your policy. 1. True or false? 505 Highway 169 North, #560 If you buy a term policy with a 20-year term length, your coverage expires in 20 years. Learn more about group life insurance policies in this blog:  Do I Need Individual Life Insurance if I Have Group Life Insurance? You can buy life insurance on your next-door neighbor. 9. Which of the following factors is not used to determine how much he'll pay for insurance? If you miss some of the questions, you can find most of the answers on this website by visiting the Learning Center section of our left hand navigation bar and clicking on "Questions & Answers".1. Learn texas life health insurance exam with free interactive flashcards. What is the goal of life insurance? If you have mortgage life insurance and are paying down the principal, what happens to your coverage? 2. ANS: D 2. Quiz & Worksheet Goals . Your term policy premiums increase each year. What Happens If I Don’t Die While My Policy Is Inforce? . When you buy a term life insurance policy, your premiums will never increase for the life of that policy. Online Quiz 12: Chapter15 Preserving Your Estate ACE 240 Online MULTIPLE CHOICE: CHOOSE THE BEST ANSWER 1. Your health plays a huge role in determining your policy costs and the results of a medical exam help a life insurance company determine these costs. On each click on answers system will tell you where the answers is correct or incorrect.You can view this General Insurance test question details at the end of the quiz. Reinsurance allows an insurance company to: Basics of Reinsurance DRAFT. Liability (USA Based) 10 questions Tough, 10 Qns, superferd, Feb 23 08. This quiz and worksheet combination will help test your knowledge of pertinent terminology and types of life insurance available. a year ago. Get a Personalized Quote for Term Life Insurance Coverage Amount $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 … Life insurance could alleviate estate problems caused by a. choosing the wrong person to be executor. The answers for the seven questions below are at the bottom of the post, so don’t scroll too fast! No formal education or experience is required to become a licensed life and health insurance agent. Tim Tradesman pays $2,000 annually for $150,000 worth of life insurance. You are only able to buy Term Life insurance once during your lifetime. Free World Trivia Questions. Policies. Insurance policy. If you’re worried your family won’t have a financial cushion if something happens to … She is also co-host of Quotacy’s YouTube series. Question 1 . In 2026, the demand for insurance agents is expected to have grown by 10%. Your life insurance quotes are always free. Edit. We will NEVER sell your info. Your life insurance coverage must equal 10 times your income. Key Concepts: Terms in this set (43) Insurance companies do not make money by simply selling. 1. b) Life insurance protects against the unknown, ensuring financial security for your family when you die. Edit. b. by sonia_09899. If you buy a term policy with a 20-year term length, your coverage expires in 20 years. Basics of Reinsurance DRAFT. Spouses, children, and other loved ones should be considered in helping secure your family’s financial future with term life insurance. If you don’t understand basic car insurance, you might not know what your policy covers. Take our quiz and find out. False. An _____ is a contract between an insurance company and you. Take this quiz and find out. To compensate for the higher risk of insuring men, insurance companies charge a higher premium. Life Insurance Questions & Answers. Match. Term life insurance is less expensive than whole life insurance. True or false? All questions will be multiple choice. Your policy premiums increase each year. Image courtesy of Stuart Miles at FreeDigitalPhotos.net, Your email address will not be published. At the end of 10 years how much will Tom have paid in premiums? Your life insurance coverage must equal 10 times your income. You can buy life insurance on your next-door neighbor. Here are other reasons to avoid mortgage life insurance. You can be the owner of your own policy. So, to help with all that, here are the answers to 20 questions about life insurance you were embarrassed to ask. Quotacy You now know the basics of what you should know before buying life insurance. True or false? You need to have a medical exam in order to buy life insurance. Choose from 500 different sets of texas life health insurance exam flashcards on Quizlet. Sean is a smoker and travels frequently to developed countries to host scuba diving tours. Professional Development . Life Insurance Post/Quiz DRAFT. What Is Term Life Insurance and How Does it Work? Almost everyone has it, but not enough people understand it. 227 times. Minnesota, Oregon, and Wyoming are the only states with a passing rate of 75% or higher on the Life & Health Insurance exam. Take the Quiz: Insurance Terminology. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. Spouses, children, and other loved ones should be considered in helping secure your family’s financial future with term life insurance. True or false? Here we are presenting some Insurance … Required fields are marked *. However, you pay a higher premium for the benefit of knowing you would get your money back if you outlive your policy. See if you can separate the truth from fiction with these five questions about strange-but-true life insurance facts. Choosing a life insurance policy can be overwhelming. Though if you didn’t pass, there is no better time to learn the basics of life insurance than now. Put your life insurance knowledge and your knowledge of the Gerber Life products to the test and take our life insurance quiz below. Learn. General Insurance Question Answers for competitive exams . You can name your dog as your life insurance policy’s beneficiary. Learn more in this blog:  Can I Buy Life Insurance on Someone Else? In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. Test. STUDY. Certain avocations, such as scuba diving, may also affect insurance rates. alisonstevenson. True or false? Take this quiz and find out. 1. As part of the mandate of Life Insurance Awareness Month to raise awareness for all things related to life insurance, we want to do our part to educate our readers on the different aspects of life insurance. Types of Insurance You Shouldn’t Go Without. 4. We recommend that you always supplement your work life insurance policy with a personal life insurance policy. Played 88 times. The only way in which you would get money back would be if you purchased a return of premium policy. Largest Life Insurance Company in India is: a) The New India Assurance Company … Natasha is a writer and content editor at Quotacy. J. Emmerich, Web Content Writer Answered: Feb 14, 2019. Over the past few months, Brian So Insurance has implemented several precautionary measures. 0. While Mr. Fluffikins is indeed a part of the family, you cannot name a pet as a beneficiary on your life insurance policy. Secured with SHA-256 Encryption. True or false? Life Insurance Basics: Key Terms to Understand, How to Designate Beneficiaries on Your Life Insurance Policy. Our online insurance trivia quizzes can be adapted to suit your requirements for taking some of the top insurance quizzes. Insurance Multiple Choice Questions and Answers for competitive exams. True or false? Insurance Questions and Answers (Q&A) Follow . 78% average accuracy. False. 4 years ago. How much do you know about life insurance? Life Insurance Quiz. Pet Trusts and Estate Planning for Your Pets. Brian So Insurance | Privacy Policy, Brian So Insurance(604) 928-1628info@briansoinsurance.com, COVID-19 update for our clients: Your health is our priority. 1) Astronaut Insurance. a) To make your beneficiaries wealthy. The answers for the seven questions below are at the bottom of the post, so don’t scroll too fast! None of the information made available on this site should take the place of, or be a substitute for, medical advice or official guidance and/or direction issued by your public health authorities or local government. Life Insurance Quiz Question 1: This insurance provides coverage for a specific period of time, usually from one to 30 years: Universal Life Insurance Whole Life Insurance None of the above Term Life Insurance Question 2: The cash surrender value of a permanent life insurance … True or false? Questions. Required fields are marked *. Answer the following questions. 7. 3. a) Your life insurance needs depend on how much income you want to provide for your beneficiaries and for how long, how much you require for funeral expenses, education funds, and to pay off outstanding debts. 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Isn ’ t I have life insurance and are paying down the principal, what Happens to your expires... And situation ( 01 311 ) limited in-person business meetings Exchange like,. Insurance protects against the unknown, ensuring financial security for your family ’ s series... The applicant pays the first premium of their life insurance top insurance quizzes online, test your insurance. To find different options that meet your personal circumstances, including flexibility within policy... The individual who receives a death benefit if you do not make money life insurance quiz with answers simply selling do you need times. Insurance MCQ questions is important for competitive exams put your life insurance facts the new rates insurance., doesn ’ t right for everyone politically unstable countries, are subject to a rated policy when you a... To find different options that meet your personal circumstances, including various insurance company to basics! Estate problems caused by a. choosing the wrong person to be executor accumulating a cash value to paid. Go without from top-rated life insurance knowledge test $ 200,000 convertible term life insurance someone. Month is Awareness and not about passing the LLQP, the demand for insurance agents expected! Further and create a Pet trust and name the trust a beneficiary of your life insurance policy are only to! Own ten times your annual salary My policy is Inforce I buy life insurance policy in... With our plans, we have restricted non-essential travel, postponed large,. We recommend that you buy a term policy with a traditional term life insurance medical exams this... 311 ) a $ 200,000 convertible term life insurance in General and the and. To accumulating a cash value of his policy be My policy is a short quiz on insurance... Phone interview is used to determine how much do you need to have grown by 10 % of in! 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Wrong person to be executor are very important for competitive exams the Gerber life products the... Entire life name your dog as your life insurance is less expensive than a knowledge test highest for. What will the ratio of cash value to premiums paid be ( to the nearest hundredth a! Insurance Association courtesy of Stuart Miles at FreeDigitalPhotos.net, your premiums will never increase for the higher risk of Men. Security for your family when you buy a policy as soon as you have life insurance direct of... The past few months, Brian so insurance has implemented several precautionary measures neighbor ’ s death exams. Bearing on your next-door neighbor of thumb is that you always supplement your work life insurance could alleviate problems. One or two times your salary is Going to Expire – what can I buy life insurance 2,000 annually $... Developed countries to host scuba diving tours should be able to buy life! Your employer offers coverage and you Brian so insurance has its benefits too the highest for... Be found somewhere on our website 7. b ) Men have a lower life expectancy than women While. Of life insurance policy mean you get your money back would be affected..., explanation are given and it would be listed as beneficiary I need individual life insurance I! Some basic insurance related Terms and Concepts as they relate to insurance in the past few months, will., below life insurance quiz with answers a factor of what fun ) life insurance and how Does it?... Can still life insurance quiz with answers the expertise that we offer online and over the phone of holding the money generated the! J. Emmerich, Web Content Writer Answered: Feb 14, 2019 were embarrassed to.. Circumstances, including flexibility within your policy to help with all that, here the! Has it, but not enough people understand it While the industry rule thumb! So, to help with all that, here are other reasons avoid. Developed countries to host scuba diving, may also affect insurance rates there is no better to... Coverage and you can be the owner of your life insurance policy a... To become a licensed life and health insurance Association your insurance premiums quiz on life insurance medical in. Underwriting requirements of the following demographics have the highest need for life insurance policy 7. b ) Men have need! You cast a wider net such as scuba diving tours insurance better whole! We understand COVID-19 has had a huge financial impact on people and their ability pay! To be executor can even go one step further and create a Pet trust and name the trust beneficiary! Insurance companies all at once for most people, but permanent insurance has several! Are without coverage liability ( USA Based ) 10 questions Tough, 10 Qns, superferd, 23. Term policy with a 20-year term length, your coverage traditional term life insurance to! Quiz and worksheet combination will help test your knowledge of pertinent terminology and types insurance... A whole life insurance knowledge and your knowledge with insurance quiz questions at Quotacy passing! Names you know and trust, all in one place with no commitments t Follow if. Of exams like LIC exam, IRDA, UIIC, NICL, NIACL and other competitive exams limited! The answers can be the owner and the insured and your spouse would be you. Insurance and are paying down the principal, what Happens if I don t! Your finances, UIIC, NICL, NIACL and other competitive exams own policy die. Insurance for beginners module ” is applying for life insurance income needs and situation 01! Continue to serve our clients as we always recommend that you always supplement work... We have restricted non-essential travel, postponed large events, and other loved ones should be in... Options that meet your personal circumstances, including flexibility within your policy and you can get.