WorksheetsLife Insurance
Total questions: 17
Worksheet time: 9mins
One whose death is covered by their life insurance.
Policyholder
Termed
Insured
Covered
The insured and the policyholder are always the same person.
True
False
What does "increasing" or "decreasing" term insurance mean?
The death benefit increases or decreases over time
The premium increases or decreases over time
The term increases or decreases over time
The attained age increases or decreases over time
What is Term Life Insurance?
Temporary protection defined in years
Protection that is renewed in "terms"
Permanent protection
Temporary protection defined by the age of the insured
What is a clients largest asset?
home
ability to work
car
retirement accounts
What reason doesn't fit for why people don' t buy life insurance?
Didn't think they could afford it
Doesn't see a need for it
Never got around to it
Spouse can remarry
The coverage period for life insurance is usually LESS than a year
True
False
....form of life insurance as premiums are cheaper compared to other life insurance plans
Term
Whole life
Endowment
Life insurance can also be used as investment fund
True
False
The premiums and death benefit are fixed is refer to ____
Term
Whole life
Endowment
Who gets your death benefit once you die?
Insurance Company
Business Partner
Your Beneficiaries
Your Pets
Charity
How large of a policy do you need for life insurance?
Five to seven times your annual salary
Ten times your annual salary
One to four times your annual salary
Ten+ times your annual salary
Buying insurance when you are young will cost you ....
a higher rate.
lower rate.
Life insurance is not for you but for your family.
True
False
Which type of life insurance doesn't guaurantee payout?
term
permanent
Life insurance company may pay you interest on the cash you pay for your policy?
True
False
A neighbor can be your beneficiary?
True
False
