What is life insurance?
Life insurance

Quiz
•
Business
•
12th Grade
•
Medium
Fenelon Ritha
Used 72+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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