Life Insurance Quiz

Who is a beneficiary in the context of life insurance?

• The insurance company that provides the policy

• The person that pays the insurance premiums

• The person that will receive the payout upon the death of the insured

• The lawyer that handles the insurance claims

What is a premium in life insurance?

• The contract between the insurer and the policy owner

• The payout given upon the death of the insured

• The amount of money paid to beneficiaries

• The payment you make to the insurance company

What does term insurance cover?

• For the whole life of the insured

• For a specific period and expires when the term is over

• For the education of the insured's children

• For the health expenses of the insured

Which of the following is a characteristic of whole life insurance?

• It is cheaper than term insurance

• It covers for a specific period only

• It provides cash value along with the death benefits

• It has no cash value

Suzie wants to provide a death benefit to her beneficiaries and has long-term financial goals. Which type of insurance should she consider?

• Term Insurance

• Whole Life Insurance

• Automobile Insurance

• Health Insurance