Life insurance

Life insurance

12th Grade

20 Qs

quiz-placeholder

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Life insurance

Life insurance

Assessment

Quiz

Business

12th Grade

Medium

Created by

Fenelon Ritha

Used 72+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is life insurance?

Covers losses and damages to an individual's residence, along with furnishings and other assets in the home.

protect you against financial losses if you're involved in an accident or the vehicle is damaged in some way.

A legally binding contract that pays a death benefit to the policy owner when the insured dies.

Covers medical care or long-term care services.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much does a 17-year-old need Life Insurance?

Really neccessay

Not really necessary, but good to have

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

why would an 30-year-old need life Insurance?

They loved ones depend on their income for support

Because they are about to die.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Term Life Insurance?

Provides insurance permanently.

provides coverage at a fixed rate of payments for a limited period of time.

Is the more expensive insurance option

that covers you for a limited time

Is the cheaper insurance option that overs you permently.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Decreasing Term?

Premiums increase annually and are usually the least expensive term insurance in the beginning.

Allows policyholders to convert a term policy to permanent insurance.

Provides a quote for the year the policy is purchased.

Coverage decreasing over the life of the policy at a predetermined rate.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Convertible Term?

Provides a quote for the year the policy is purchased.

Coverage decreases over the life of the policy at a predetermined rate.

Allows policyholders to convert a term policy to permanent insurance.

Premiums increase annually and are usually the least expensive term insurance in the beginning.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Renewable Term?

Allows policyholders to convert a term policy to permanent insurance.

Premiums increase annually and are usually the least expensive term insurance in the beginning.

Renews automatically every year

Coverage decreasing over the life of the policy at a predetermined rate.

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