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So, you need a lot of practice for making through the exam itself. She is 34 years old. This True or False quiz will test your life insurance basics knowledge. Therefore, below is a short quiz on life insurance. Eva decides to buy a $400,000 10-year term policy and then renew the policy for another ten years afterwards. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Cram.com makes it easy to get the grade you want! b. Preview this quiz on Quizizz. 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. A) David Geffen, producer, music mogul and film executive, who held a life insurance policy with a $100 million coverage amount. Joshua is 25 years old and has a high risk job making $72,000 a year. You will pay substantially less for life insurance if which of the following factors is true? C) Al Capone, who, at the time of his death in 1947, held an insurance policy with $3 million in coverage. Good luck! DeShawn is 38 years old and is married with 3 children, ages 2, 4, and 6. Chapter 12 Review: Life Insurance DRAFT. When shopping for life insurance, you should look for: Eva is 29 years old and has 2 children, ages 3 and 5. Our online general insurance trivia quizzes can be adapted to suit your requirements for taking some of the top general insurance quizzes. Access the lessons anytime 24/7, and visit them as many times as you'd like. 0% average accuracy. Choose from 500 different sets of universal life insurance flashcards on Quizlet. Review any lessons within any chapters based on your current and desired life and health insurance knowledge. Between permanent life insurance and term life insurance, which typically has the lower premium and why? 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. 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 … Jade wants to buy a $200,000 term life insurance policy. Life Skills. Preview this quiz on Quizizz. quiz life insurance Classes. 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? Take this quiz to see how much you know about life insurance in general and the benefits of having life insurance. 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. 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. Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. Thus you need a license to do so, and that comes with the California Life and Health Insurance Agent exam. What is the face value of the largest 20-year term policy she can buy without spending more than $300 annually? B) J.K. Rowling, who insured her life for the staggering sum of $126 million. To renew the policy the insurance company charges an extra 40% to her premium rate. 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. Who has the greatest need for life insurance? Which of the following statements regarding life insurance is true? 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. 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. Learn life insurance with free interactive flashcards. This quiz will test you on: About This Quiz & Worksheet. 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. 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