Life Insurance Quiz

What are beneficiaries in life insurance?

• People who sell life insurance

• People who receive death benefits

• People who calculate life expectancy

• People who provide financial support

What are death benefits in life insurance?

• Facility fees for the burial plot

• Fees for embalming the body

• Money that beneficiaries receive after the policy holder dies

• Costs of dying that the family has to pay out of pocket

What is a dependant in the context of life insurance?

• A person who provides death benefits

• A person who calculates life expectancy

• A person who sells life insurance policies

• A person who relies on another for financial support

What are actuarial life tables used for in life insurance?

• To determine the amount of death benefits

• To calculate the cost of dying

• To estimate life expectancy

• To decide the cost of a funeral

What is term life insurance?

• Life insurance for the remainder of your life

• Life insurance for a set time period

• Life insurance with a cash value investment account

• Life insurance that offers only death benefits

What is the main drawback of whole life insurance?

• It is more expensive for young and healthy individuals

• It is only available for people with prior health conditions

• It does not offer any death benefits

• The cash value investment account is a scam

What factors make life insurance less expensive?

• Having a drink once a week and engaging in dangerous activities

• Older age

• Staying fit with extreme sports like mountain biking

• Being young, healthy, and not engaging in dangerous activities