If you have a basic knowledge of life insurance, you should be able to get most of them correct. This mock test having 40 questions in General Insurance, with four choices. A comprehensive database of more than 102 insurance quizzes online, test your knowledge with insurance quiz questions. Since the purpose of the month is awareness and not about passing the LLQP, the questions will be geared towards beginners. Take this quiz and find out. Compare the best prices from the names you know and trust, all in one place with no commitments. Preview this quiz on Quizizz. You can buy life insurance on your next-door neighbor. 2. Minneapolis, MN 55441 If you have mortgage life insurance and are paying down the principal, what happens to your coverage? Either convert your term policy into a permanent policy or buy an altogether brand new term policy. a) Existing life insurance, income needs and immediate cash needs. Life insurance could alleviate estate problems caused by a. choosing the wrong person to be executor. At the end of the term, your policy expires. No formal education or experience is required to become a licensed life and health insurance agent. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. Over 65 quiz questions in rotation. Since the purpose of the month is awareness and not about passing the LLQP, the questions will be geared towards beginners. You can be the owner of your own policy. Flashcards. True or false? You can name your dog as your life insurance policy’s beneficiary. b. In order for your spouse to get life insurance money if you die, he or she needs to be the owner of your policy. e) None of These. 505 Highway 169 North, #560 People identified as bad risks are likely. General Insurance Question Answers for competitive exams . In minutes, you can see prices and compare policies from top-rated life insurance companies all at once. Insurance Multiple Choice Questions and Answers for competitive exams. Think of it like car insurance. alisonstevenson. At the end of 10 years what will the cash value of his policy be? Your email address will not be published. True or false? Insurance policies described, quoted, shown, and illustrated throughout this website are not an offer for the sale of any particular insurance policy or product, only an invitation for application for insurance coverage and may not be relied upon. Your life insurance coverage must equal 10 times your income. A. As you would expect, we have a business continuity plan in place, that is regularly tested and enhanced, to ensure that operations continue to run effectively. Here are other reasons to avoid mortgage life insurance. J. Emmerich, Web Content Writer Answered: Feb 14, 2019. False. The younger and healthier you are, the cheaper your policy and you can lock in that low rate. Take this quiz to see how much you know about life insurance in general and the benefits of having life insurance. Q2. You get your money back if you don’t die before your term policy ends. 1. The quiz and worksheet will help measure your understanding of term life insurance. True or false? During these times of physical distancing, you can still get the expertise that we offer online and over the phone. Questions. 0. Don’t worry if you didn’t get a perfect score, as even some professionals in the financial services and insurance industry may get 1 or 2 wrong. “No-questions-asked life insurance”, also known as guaranteed issue life insurance, is a policy which ensures your acceptance regardless of your current or past health challenges. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. 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. Free World Trivia Questions. Answer the following questions. We recognize that these times are challenging and wanted to provide an overview of the actions Brian So Insurance is taking to protect the health and safety of our clients. (844) QUOTACY, Designed by Elegant Themes | Powered by WordPress. You now know the basics of what you should know before buying life insurance. Can I Buy Life Insurance if I Am Considered High Risk? You can even go one step further and create a Pet Trust and name the trust a beneficiary of your life insurance policy. There aren’t many better ways of education than a knowledge test. Edit. These short solved questions or quizzes are provided by Gkseries. There are many variables in different insurance coverages and companies, including various insurance company standards and offerings and underwriting requirements. We can work with you to find different options that meet your personal circumstances, including flexibility within your policy. A. True or false? The phone interview is used to verify your answers to the life insurance application questions. Take our quiz and find out. Term life insurance is less expensive than whole life insurance. 1. Test. a. 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 … The answers for the seven questions below are at the bottom of the post, so don’t scroll too fast! The FCRELCLA makes it clear that the only way to receive payment is if a broker has a written brokerage agreement with _____, specifying the acts that trigger the earning of a real estate commission. True or false? Your email address will not be published. Liability (USA Based) 10 questions Tough, 10 Qns, superferd, Feb 23 08. To continue coverage, you must accept the new rates. Almost everyone has it, but not enough people understand it. a) To make your beneficiaries wealthy. Insurable interest is when your finances would be negatively affected as a direct result of another person’s death. Our FAQ page is a great resource if you want to learn more. At the end of 10 years how much will Tom have paid in premiums? We encourage you to visit the World Health Organization website and your local government health authority websites for the most up-to-date and reliable information about the status of the coronavirus in your region. Life Insurance Basics: Key Terms to Understand, How to Designate Beneficiaries on Your Life Insurance 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. Your policy premiums increase each year. Get a Personalized Quote for Term Life Insurance Coverage Amount $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 … This quiz and worksheet combination will help test your knowledge of pertinent terminology and types of life insurance available. Therefore, below is a short quiz on life insurance. False. 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