Life Insurance Pre/Quiz

Why do most people invest in life insurance polices?

• To provide them with a way of protecting their assets, like savings and investments
• To replace the lost income to their families after they die
• To pay for final expenses, like funerals
• All of these

A young married Dad is applying for life insurance.  Which of the following factors is not used to determine how much he'll pay for insurance?

• His level of physical fitness
• His age
• Where he lives
• His job

Can life insurance companies charge smokers more money for life insurance than nonsmokers?

• Yes
• No

Tags

CCSS.HSS.CP.A.5

CCSS.HSS.ID.B.5

CCSS.HSS.MD.B.5

Who usually pays more for life insurance?

• Men
• Women

Tags

CCSS.HSS.ID.A.2

CCSS.HSS.ID.A.3

CCSS.HSS.ID.B.6

Which of the following people do you think would need life insurance the most?

• A single working mom with two kids
• A single college grad without dependents starting his first job
• A single wealthy businesswoman without dependents
• An elderly retired man with a wife who is also retired

An insurance policy can provide more than a death benefit.

• True
• False

A life insurance policyholder suddenly becomes ill and her health begins to decline.  Her insurance company can't cancel the policy while it is in force, but can increase her rates.

• True
• False

If an adult is on a limited budget and has a significant need for life insurance coverage, her best option will probably be:

• Permanent Life Insurance
• Cash Value Life Insurance
• Term Life Insurance
• Whole Life Insurance

A young couple decides to purchase a 10-year term life insurance policy.  What should they expect?

• The annual premium payments will stay the same for 10 years
• The annual premium payments will increase each year for the life of the policy
• The annual premiums will decrease after 10 years
• The annual premiums will decrease each year they have the policy

A 45 year old man with a full time job, a wife who works part-time, and three children under 12 is considering buying life insurance.  Which of the factors below should have the most influence on his decision?

• His age
• His financial status
• His family
• His employer

Tags

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5