WorksheetsLife Insurance
Total questions: 8
Worksheet time: 5mins
What is life insurance?
An insurance plan where an insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death
This type of insurance provides cover for loss or damage to any vehicle like a car, two-wheeler or commercial vehicle, etc.
This type of insurance provides coverage that pays for medical and health expenses.
An insurance plan that pays some of a person's income
when he or she is disabled from an illness or injury and cannot work.
Who should invest in life insurance?
single individuals
Individuals who financially support someone
Individuals with no dependents
Individuals with a spouse or children
What is a beneficiary?
The person who owns an insurance policy
The person or entity that will receive the money from your policy's death benefit when you pass away
Someone who processes claims filed with insurance companies, either from insureds or claimants
Someone you hire and pay regular wages to perform a specific job
What does life insurance cover?
Almost any death
Vehicle damage
Percentage of income
Thefts
What factors can affect the cost of life insurance?
Number of pets
Gender
Age
Number of Accidents
What is the average monthly cost of life insurance?
$1000
$5
$400
$27
What is a premium?
The payments you make monthly or annually to your insurance company in exchange for coverage
A specified amount of money that the insured must pay before an insurance company will pay a claim
The money that gets paid to your beneficiaries if you die
The tax-free payout your beneficiaries receive when you die
Which are types of life insurance?
Group
Whole
Liability
Collision
