Understanding Life Insurance Basics

Understanding Life Insurance Basics

12th Grade

20 Qs

quiz-placeholder

Similar activities

Chapter 7-sections 1 to 5- Review

Chapter 7-sections 1 to 5- Review

12th Grade

21 Qs

VITA Volunteer Standards of Conduct Quiz

VITA Volunteer Standards of Conduct Quiz

9th - 12th Grade

15 Qs

PFLE Nine Weeks Review

PFLE Nine Weeks Review

12th Grade

17 Qs

Disability Insurance

Disability Insurance

12th Grade

15 Qs

Personal Finance Unit One Online Pre-Test

Personal Finance Unit One Online Pre-Test

9th - 12th Grade

20 Qs

Quiz #1- Quality of Life & Joining the Workforce

Quiz #1- Quality of Life & Joining the Workforce

9th - 12th Grade

15 Qs

Quiz on Credit

Quiz on Credit

12th Grade - University

20 Qs

FP2 - 2.01 Practice

FP2 - 2.01 Practice

12th Grade

20 Qs

Understanding Life Insurance Basics

Understanding Life Insurance Basics

Assessment

Quiz

Financial Education

12th Grade

Practice Problem

Easy

Created by

Jack Dreckmann

Used 21+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of life insurance?

To pay for car repairs

To provide money to loved ones if the insured person dies

To cover grocery bills

To pay for vacations

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of life insurance only lasts for a set number of years?

Whole Life Insurance

Term Life Insurance

Universal Life Insurance

Health Insurance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you call the person who buys a life insurance policy?

Beneficiary

Policyholder

Insurer

Agent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a "beneficiary" in life insurance?

The person who sells the policy

The person who receives the money if the insured dies

The company that provides insurance

The person who pays the premiums

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of life insurance can build up savings over time?

Term Life Insurance

Whole Life Insurance

Health Insurance

Auto Insurance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a "premium" in life insurance?

The amount paid to the beneficiary

The amount you pay regularly to keep your insurance active

The value of your car

The interest earned on savings

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If someone wants life insurance that lasts their whole life, which type should they choose?

Term Life Insurance

Whole Life Insurance

Travel Insurance

Dental Insurance

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?