HOW MONEY WORKS QUIZ -

One of the most important expenditures the average family should make is:

• a mortgage

• life insurance

• car note

• retirement

Life insurance should be called:

• death protection

• debt protection

• inflation fighter

• income protection

When is there a possibility that life insurance is NOT needed:

• age 25

• spouse doesn't work

• single or have significant cash resources

• at retirement

Who should buy life insurance?

• people who have others depending on them for support

• a 85 year old who is in a nursing home

• people who have lots of money saved

What makes life insurance a necessity?

• the fact that you will die

• the potential risk of losing your earning power (income)

• ?

• ?

ALL LIFE INSURANCE IS CREATED EQUAL

• TRUE

• FALSE

Group life insurance is owned by each employee

• TRUE

• FALSE

Which insurance provides low-cost death protection?

• whole life

• universal life

• term life

In the Theory of Decreasing Responsibility your need for life insurance should mirror

• your bank account

• your hopes and dreams

• your family responsibilities

What is the primary purpose of term life insurance?

• To invest in the stock market

• To provide temporary death benefit protection

• To accumulate cash value for retirement

• To pay for educational expenses