life insurance quiz quizlet

Start studying Life Insurance Quiz. About This Quiz & Worksheet. Questions. Search Create Log inSign up 7 Matching questions 1. 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 … 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. Joshua is 25 years old and has a high risk job making $72,000 a year. Review any lessons within any chapters based on your current and desired life and health insurance knowledge. Jade wants to buy a $200,000 term life insurance policy. So, you need a lot of practice for making through the exam itself. All questions will be multiple choice. Sherita, age 37, wants to pay no more than $750 a year in life insurance. Quizlet flashcards, activities and games help you improve your grades. The insurance company charges him an extra 20% on top of his premium rate because of his job. True or false? What is the face value of the largest 20-year term policy she can buy without spending more than $300 annually? Between permanent life insurance and term life insurance, which typically has the lower premium and why? Maria, age 28, wants to pay no more than $300 a year in life insurance. A young married Dad is applying for life insurance. Practice Test: Life Insurance Test #1. When shopping for life insurance, you should look for: Eva is 29 years old and has 2 children, ages 3 and 5. This quiz will test you on: 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. 0 times. 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? Which of the following statements regarding life insurance is true? Peter and Marcia, both age 34, can pay $650 a year each on life insurance. Cram.com makes it easy to get the grade you want! This True or False quiz will test your life insurance basics knowledge. 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. Take our life insurance quiz to test your knowledge! 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. Also explore over 28 similar quizzes in this category. Eva decides to buy a $400,000 10-year term policy and then renew the policy for another ten years afterwards. Who has the greatest need for life insurance? Life insurance is often viewed as a confusing topic. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Preview this quiz on Quizizz. Franchise plans are often used for groups that are smaller than the minimum number required by state law and consist of individuals who do not qualify for ordinary group life insurance. B) J.K. Rowling, who insured her life for the staggering sum of $126 million. Then, talk to your ERIE agent about a Long-Term Care Accelerated Death Benefit Rider from Erie Family Life Insurance Company. Almost everyone has it, but not enough people understand it. This quiz and worksheet combination will help test your knowledge of pertinent terminology and types of life insurance available. Learn life insurance with free interactive flashcards. B. Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. Study Flashcards On Life Insurance Flashcards at Cram.com. About This Quiz & Worksheet. Good luck! True or false? Enter your game code to play on a computer, tablet, or phone. Choosing a life insurance policy can be overwhelming. You will pay substantially less for life insurance if which of the following factors is true? Preview this quiz on Quizizz. Thus you need a license to do so, and that comes with the California Life and Health Insurance Agent exam. Also explore over 27 similar quizzes in this category. This quiz is useful for those individuals who are looking towards producing or selling life insurances in California State. C) Al Capone, who, at the time of his death in 1947, held an insurance policy with $3 million in coverage. How much do you know about life insurance? If you buy a term policy with a … Students: Join a round of Quizlet Live here. Given the options below, assess whether Eva made a wise decision. Learn universal life insurance with free interactive flashcards. Who has the greatest need for life insurance? a. The concept that having a large pool of similar risks enables predictability of losses on a statistical basis. 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. Here we have got a beneficial practice test for you. Access the lessons anytime 24/7, and visit them as many times as you'd like. Life Insurance plans that cover a small group of individuals; however, unlike group insurance each individual is issued an individual policy. Preview this quiz on Quizizz. 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? 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. Life Insurance study guide by kyleb00 includes 120 questions covering vocabulary, terms and more. DeShawn is 38 years old and is married with 3 children, ages 2, 4, and 6. Try this amazing Life Insurance Policy, Provision, Options, And Riders quiz which has been attempted 106 times by avid quiz takers. If you’re worried your family won’t have a financial cushion if something happens to … b. Our online general insurance trivia quizzes can be adapted to suit your requirements for taking some of the top general insurance quizzes. Given DeShawn's scenario, assess whether DeShawn made a wise decision. If Joshua wants a policy that will replace five years of his salary, what is the annual premium for the cheapest policy? Therefore, below is a short quiz on life insurance. 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. 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. A) David Geffen, producer, music mogul and film executive, who held a life insurance policy with a $100 million coverage amount. Play this game to review Life Skills. 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. Browse 500 quiz life insurance classes Quickly memorize the terms, phrases and much more. 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. From the following three options, DeShawn decides to buy the $900,000 20 year term policy. 16 minutes ago. A comprehensive database of general insurance quizzes online, test your knowledge with general insurance quiz questions. Because Bernard has some health issues, he must pay 15% more for life insurance. Using the table, find the difference in total premium costs over 20 years for this policy at the two age levels. He makes $45,000 a year and is planning to retire when he turns 60. (hint: choose 3 correct answers) quiz life insurance Classes. https://quizlet.com/178521907/life-insurance-quiz-flash-cards Take this quiz and find out. Take the Quiz: Insurance Terminology. Quiz & Worksheet Goals. The quiz and worksheet will help measure your understanding of term life insurance. 11th - 12th grade. Try this amazing Practice Exam 4 - Life Insurance quiz which has been attempted 4078 times by avid quiz takers. There aren’t many better ways of education than a knowledge test. Choose from 500 different sets of life insurance flashcards on Quizlet. Quizlet is a lightning fast way to learn vocabulary. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. 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. 0% average accuracy. 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? Choose from 500 different sets of universal life insurance flashcards on Quizlet. Based on the given information, what is the best policy to buy? Which types of insurance are most appropriate for a single, working, 24-year-old? She makes $48,500 a year. 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? She is 34 years old. Chapter 12 Review: Life Insurance DRAFT. Even with the extra charge for renewal, Eva's plan is the least expensive. This five-question quiz will help you better understand long-term care and why it’s important to consider. 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. Take this quiz to see how much you know about life insurance in general and the benefits of having life insurance. To renew the policy the insurance company charges an extra 40% to her premium rate.  Which of the following factors is not used to determine how much he'll pay for insurance? C. DeShawn's current policy will cover his family for an adequate period of time at his current salary. Using the premium table, what is her annual premium for a 10 year policy? Life Skills. On a statistical basis more with flashcards, games, and Riders quiz which has been attempted 106 times avid... 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