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Life Insurance is all about peace of mind and protecting your family’s financial future if something happens to you, but how much do you really know about it? Even with the extra charge for renewal, Eva's plan is the least expensive. Sample Decks: Life Insurance Policy Options, Life Insurance Policy Options Quiz Questions, Life Insurance Policy Provisions Quiz Questions Show Class Life and Health Insurance (including Nevada state specific) Life and Health Insurance (including Nevada state specific) Flashcard Maker: Ally Ramirez. https://quizlet.com/178521907/life-insurance-quiz-flash-cards 0% average accuracy. Life Insurance Quiz 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 … C) Al Capone, who, at the time of his death in 1947, held an insurance policy with $3 million in coverage. b. This five-question quiz will help you better understand long-term care and why it’s important to consider. C. DeShawn's current policy will cover his family for an adequate period of time at his current salary. Our online general insurance trivia quizzes can be adapted to suit your requirements for taking some of the top general insurance quizzes. About how much more annually will a $115,000 10-year term insurance at age 35 cost Bernard than someone of the same age without health issues? Play this game to review Life Skills. Review any lessons within any chapters based on your current and desired life and health insurance knowledge. Life Insurance plans that cover a small group of individuals; however, unlike group insurance each individual is issued an individual policy. Your children are 3 and 5 years old now, and you want an inexpensive policy that covers your family at least until the youngest is 22. Learn universal life insurance with free interactive flashcards. About This Quiz & Worksheet. A) David Geffen, producer, music mogul and film executive, who held a life insurance policy with a $100 million coverage amount. Given the options below, assess whether Eva made a wise decision. Maria, age 28, wants to pay no more than $300 a year in life insurance. See how much you know about insurance by taking this quiz, ... it's better to know what's at stake and how insurance can protect you and your family so that you're free to enjoy life to its fullest. Preview this quiz on Quizizz. Therefore, below is a short quiz on life insurance. If Joshua wants a policy that will replace five years of his salary, what is the annual premium for the cheapest policy? As part of the mandate of Life Insurance Awareness Month to raise awareness for all things related to life insurance, we want to do our part to educate our readers on the different aspects of life insurance. Which of the following factors is not used to determine how much he'll pay for insurance? When an individual designates a charitable organization as the beneficiary of his life insurance policy, the individual can deduct the face value of the policy as a charitable contribution on his income tax return. Using the table, find the difference in total premium costs over 20 years for this policy at the two age levels. Take this free practice test to get an idea of what is on your state's life and health insurance agent licensing exam.. As an insurance agent, one is allowed to offer many different lines of coverage – provided that the required training and testing qualifications have been met. Quickly memorize the terms, phrases and much more. B. Practice Test: Life Insurance Test #1. Choose from 500 different sets of life insurance flashcards on Quizlet. Enter your game code to play on a computer, tablet, or phone. Start studying Life Insurance Quiz. To renew the policy the insurance company charges an extra 40% to her premium rate. The insurance company charges him an extra 20% on top of his premium rate because of his job. The quiz and worksheet will help measure your understanding of term life insurance. Life insurance is often viewed as a confusing topic. Then, talk to your ERIE agent about a Long-Term Care Accelerated Death Benefit Rider from Erie Family Life Insurance Company. B) J.K. Rowling, who insured her life for the staggering sum of $126 million. If you’re worried your family won’t have a financial cushion if something happens to … True or false? Also explore over 27 similar quizzes in this category. Search Create Log inSign up 7 Matching questions 1. Questions. 16 minutes ago. Angelo, age 40, is comparing the premium for a $125,000 whole life insurance policy he may take now and the premium for the same policy taken out at age 45. She makes $48,500 a year. How much do you know about life insurance? Peter and Marcia, both age 34, can pay $650 a year each on life insurance. This quiz is useful for those individuals who are looking towards producing or selling life insurances in California State. Quizlet is a lightning fast way to learn vocabulary. Jade wants to buy a $200,000 term life insurance policy. Take this quiz to see how much you know about life insurance in general and the benefits of having life insurance. 11th - 12th grade. Quiz & Worksheet Goals. About how much is the face value of the largest combination of policies they can buy without spending more than a combined $1,300 annually? DeShawn is 38 years old and is married with 3 children, ages 2, 4, and 6. Also explore over 28 similar quizzes in this category. Study Flashcards On Life Insurance Flashcards at Cram.com. (hint: choose 3 correct answers) Take this quiz and find out. What is the face value of the largest 20-year term policy she can buy without spending more than $300 annually? quiz life insurance Classes. a. Browse 500 quiz life insurance classes Who has the greatest need for life insurance? He makes $45,000 a year and is planning to retire when he turns 60. Choose from 500 different sets of universal life insurance flashcards on Quizlet. True or false? Take the Quiz: Insurance Terminology. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. Eva decides to buy a $400,000 10-year term policy and then renew the policy for another ten years afterwards. Thus you need a license to do so, and that comes with the California Life and Health Insurance Agent exam. If you buy a term policy with a … Joshua is 25 years old and has a high risk job making $72,000 a year. Preview this quiz on Quizizz. A comprehensive database of general insurance quizzes online, test your knowledge with general insurance quiz questions. Cram.com makes it easy to get the grade you want! Who has the greatest need for life insurance? Access the lessons anytime 24/7, and visit them as many times as you'd like. Use this quiz and worksheet combo to quickly assess what you know about the different options available for those seeking a whole life insurance policy. Learn vocabulary, terms, and more with flashcards, games, and other study tools. You will pay substantially less for life insurance if which of the following factors is true? This True or False quiz will test your life insurance basics knowledge. Because Bernard has some health issues, he must pay 15% more for life insurance. Using the premium table, what is her annual premium for a 10 year policy? When shopping for life insurance, you should look for: Eva is 29 years old and has 2 children, ages 3 and 5. Take our life insurance quiz to test your knowledge! Quizlet flashcards, activities and games help you improve your grades. Students: Join a round of Quizlet Live here. There aren’t many better ways of education than a knowledge test. This quiz will test you on: Life Insurance study guide by kyleb00 includes 120 questions covering vocabulary, terms and more. Learn life insurance with free interactive flashcards. Choosing a life insurance policy can be overwhelming. Good luck! All questions will be multiple choice. A young married Dad is applying for life insurance. Try this amazing Practice Exam 4 - Life Insurance quiz which has been attempted 4078 times by avid quiz takers. 0 times. Which types of insurance are most appropriate for a single, working, 24-year-old? Try this amazing Life Insurance Policy, Provision, Options, And Riders quiz which has been attempted 106 times by avid quiz takers. Chapter 12 Review: Life Insurance DRAFT. Almost everyone has it, but not enough people understand it. In fact, according the 2015 Insurance Barometer study conducted by worldwide research organization LIMRA and non-profit Life Happens, 38 percent of consumers did not purchase (or did not purchase more) life insurance because they found life insurance research to be confusing. She is 34 years old. 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. Between permanent life insurance and term life insurance, which typically has the lower premium and why? If the annual life insurance premium rate (per $1000 of face value) is $3.96, what is the largest 15-year term policy she can buy without spending more than $750 annually? If Jesse wants to buy a $75,000 10-year term life insurance policy, and the annual premium rate (per $1000 of face value) for his age group is $2.34, how much is Jesse's annual premium. Here we have got a beneficial practice test for you. When an adult insures a child, premiums will be waived until the child reaches 21, if the adult dies or is disabled, Continuation of life insurance coverage if the insured becomes totally disabled and is unable to pay the premiums, A guaranteed-minimum annuity that, on the annuitant's death, makes monthly payments to the beneficiary until the total price of the annuity is refunded, "by the head" so its divided equally between surviving members of the family, "by the branch" it means children of a deceased beneficiary are entitled to that beneficiary's share of proceeds, Group that is made up of one or more unions to form a group, retirement plan funded by contributions from the employer and employee, retirement plan funded entirely by contributions from the employer, a benefit whereby employees may share in the profits of the business, Employees must be immediately 100% vested in employer contributions under a SEP plan. Given DeShawn's scenario, assess whether DeShawn made a wise decision. The concept that having a large pool of similar risks enables predictability of losses on a statistical basis. So, you need a lot of practice for making through the exam itself. Life Skills. Based on the given information, what is the best policy to buy? Which of the following statements regarding life insurance is true? Sherita, age 37, wants to pay no more than $750 a year in life insurance. This quiz and worksheet combination will help test your knowledge of pertinent terminology and types of life insurance available. Preview this quiz on Quizizz. About This Quiz & Worksheet. Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. From the following three options, DeShawn decides to buy the $900,000 20 year term policy. 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