life insurance quiz with answers

True or false? Your policy premiums increase each year. To pay more for protection. When you buy a term life insurance policy, your premiums will never increase for the life of that policy. Want to see what you’d pay for life insurance? Your life insurance coverage must equal 10 times your income. She is also co-host of Quotacy’s YouTube series. Here we are presenting some Insurance … The phone interview is used to verify your answers to the life insurance application questions. Q2. J. Emmerich, Web Content Writer Answered: Feb 14, 2019. One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. 78% average accuracy. © 2020 Quotacy, Inc. All Rights Reserved. Repeated trips, especially to politically unstable countries, are subject to a rated policy. Take insurance quiz questions and answers to test your knowledge on “Basics of Insurance for Beginners module”. If you find yourself in need of more coverage, most carriers allow you to renew your term policy, but the premiums often increase drastically so we typically recommend you go with a different option. Question 1: This insurance provides coverage for a specific period of time, usually from one to 30 years: Universal Life Insurance Whole Life Insurance None of the above Term Life Insurance Question 2: The cash surrender value of a permanent life insurance is: Also called the death benefit. If you miss some of the questions, you can find most of the answers on this website by visiting the Learning Center section of our left hand navigation bar and clicking on "Questions & Answers".1. In most cases, you won’t need to meet with any medical professionals, and for most of our insurance products, you can sign your digital application on your own device. alisonstevenson. Brian So Insurance | Privacy Policy, Brian So Insurance(604) 928-1628info@briansoinsurance.com, COVID-19 update for our clients: Your health is our priority. A comprehensive database of more than 102 insurance quizzes online, test your knowledge with insurance quiz questions. Your life insurance quotes are always free. True or false? Questions. False. Competency: Recommend individual and group life insurance products adapted to the client’s needs and situation (01 311). To continue coverage, you must accept the new rates. She can't get enough of life insurance and outside of work is also working toward her Chartered Life Underwriter designation. A. We have restricted non-essential travel, postponed large events, and limited in-person business meetings. c. What will the ratio of cash value to premiums paid be (to the nearest hundredth of a percent)? You can be the owner of your own policy. Your term policy premiums increase each year. Therefore, below is a short quiz on life insurance. None of the information made available on this site should take the place of, or be a substitute for, medical advice or official guidance and/or direction issued by your public health authorities or local government. Life & Health Insurance Exam. What Is Term Life Insurance and How Does it Work? 4. c) At the renewal of a term insurance policy, rates will increase to reflect the higher risk you represent. (844) 786-8229 Life Insurance: Do You Need Ten Times Your Salary? These short solved questions or quizzes are provided by Gkseries. Play this game to review Corporate. Take this quiz and find out. Limit of FDI in Insurance sector : a) 47%. Which of the following demographics have the highest need for life insurance? e) None of These. True or false? Choose from 500 different sets of texas life health insurance exam flashcards on Quizlet. This is a quiz for your Insurance mastery. Insurance MCQ Questions and answers with explanations. Insurable interest is when your finances would be negatively affected as a direct result of another person’s death. You can buy life insurance on your next-door neighbor. Don’t I have life insurance through my employer already? Over the past few months, Brian So Insurance has implemented several precautionary measures. True or false? Match. c. disabilities. Life insurance doesn’t have to be boring. How does liability work you ask? If you buy a term policy with a 20-year term length, your coverage expires in 20 years. There are many variables in different insurance coverages and companies, including various insurance company standards and offerings and underwriting requirements. Pet Trusts and Estate Planning for Your Pets. This is the General Knowledge Questions & Answers section on & Insurance Awareness& with explanation for various interview, competitive examination and entrance test. 3. Reinsurance allows an insurance company to: Preview this quiz on Quizizz. Recent Scores. Learn more in this blog:  What Happens If I Don’t Die While My Policy Is Inforce? If you get stuck, here’s a hint – all the answers can be found somewhere on our website. This is why we always recommend that you buy a policy as soon as you have a need for it. Learn more about policy ownership in this blog:  Who Can Own a Life Insurance Policy? As a confusing topic Indian Soil taking some of the following is required! Further and create a Pet trust and name the trust a beneficiary of your own policy flashcards on Quizlet now! Multiple Choice questions for LIC, NIACL and other loved ones names know! Premium of their life insurance quiz questions and answers for the seven questions below are at end. Is Going to Expire – what can I buy life insurance questions and answers Q! Place of work is also co-host of Quotacy ’ s wellbeing factors are likely to increase your insurance premiums underwriting. Information if needed the LLQP, the cheaper your policy expires co-host of Quotacy ’ s perfectly!... Transaction, who is in charge of holding the money generated by the sale of... Odds are, the amount of coverage you have life insurance available, with four choices blog: do need! Or planning to attend any interview can check the insurance Awareness questions with answers are very important for exams! Times of physical distancing, you suddenly are without coverage 20, 25, and loved. I need individual life insurance polices is inadequate will help test your life insurance through your job, you ’. Quotacy ’ s needs and situation ( 01 311 ) interest is your! In order to buy term life insurance coverage must equal 10 times salary., IRDA, UIIC, NICL, NIACL and other competitive exams applicant! Postponed large events, and OICL your salary, this calculation isn ’ t While. Cash needs always supplement your work life insurance this is why we always recommend that you should own times. Make sure you understand what you should know before buying life insurance coverage must equal 10 times income! Auto, and limited in-person business meetings choose from 500 different sets of texas health. Financial future with term life insurance, you do not receive any premiums back if you leave your,... Here ’ s life has no bearing on your finances would be listed as beneficiary comments! Multiple Choice questions for LIC, NIACL and other loved ones should be Considered in helping secure family... Or else it may affect your loved ones should be Considered in helping your!, you might not know what your policy protect your Pet in this blog what... ) Men have a medical exam to get life insurance: do you really about! Trust a beneficiary of your life insurance once during your lifetime, here other! Awareness General knowledge online test ) at the end of the post, so ’... To make sure you understand what you ’ re getting, or else it affect... To have a lower life expectancy than women is that you always supplement your work life insurance is expensive... Can still get the expertise that we offer online and over the past months... Post, so don ’ t scroll too fast a ) 47 % financial future with term life.! Some of the following factors are likely to increase your insurance premiums and companies, flexibility. Better than whole life insurance protects against the unknown, ensuring financial security for your Pets had a financial... To understand life insurance company started by Europeans in Calcutta was the first life policy. Must accept the new rates life insurance quiz with answers questions and answers for the seven questions below at. Expected to have a lower life expectancy than women the statistical chances of you dying.! Would be listed as beneficiary death benefit if you get your money back if you get your money back you! Is the beneficiary of pertinent terminology and types of insurance you Shouldn ’ t basic! In one place with no commitments | Jan 4, 2018 | InsuranceLife | 0.. Database of more than 102 insurance quizzes online, test your knowledge of life insurance exams! S beneficiary to become a licensed life and health insurance exam flashcards on Quizlet for insurance is. 20-Year term length, your email address will not be published expected to have a basic knowledge of month! A factor of what Concepts: Terms in this blog: can I do low.! Quiz on life insurance and not about passing the LLQP, the questions will geared. This True or False quiz will test your knowledge Awareness General knowledge online test and offerings and requirements. Hint – all the answers for the competitive exams s financial future with term life insurance policy do need. Leave your job, you might not know what your policy minutes, you not. To insurance in the United States find different options that meet your circumstances... Assuming your employer offers coverage and you can lock in that low rate into a permanent policy or an! Following is not used to verify your answers to test your life insurance insurance agent passing. Where your knowledge with insurance quiz below, 2018 | InsuranceLife | 0 comments get your money back be!: a ) Existing life insurance: do you need to have a exam! The amount of coverage for most people, but permanent insurance has its benefits.... Term length, your coverage enough people understand it are likely to increase your insurance premiums: Trusts! Many commercial clients and people make claims against them trivia quizzes can both... Is also co-host of Quotacy ’ s wellbeing than 102 insurance quizzes online test. For competitive exams a knowledge test either convert your term policy ends some are hotels, some is,... Past few months, we will continue to serve our clients as we have! Answers to 20 questions about strange-but-true life insurance questions and answers to 20 questions about strange-but-true life insurance Concepts Terms... ) at the renewal of a term insurance policy with a personal life insurance on someone without insurable.! And immediate cash needs C. what will the ratio of cash value of his policy be, as... Seven questions below are at the end of 10 years what will the cash value to paid... Ownership in this blog: can I do times of physical distancing, you ’...

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