Most Life Insurance Gurus Could Not Answer Over 50% Of This Question

  • Question of

    What is the goal of life insurance ?

    • Security for the family
    • To ensure you die rich
    • To ensure you never lack money in your life
    • To ensure you never die again as long as you want
  • Question of

    How long is the term of a life insurance policy?

    • Lifetime
    • As long as you want
    • Monthly
    • Yearly
  • Question of

    Who is the beneficiary of a life insurance policy?

    • The person who will receive the money
    • The person you are insuring
    • The person you bought the insurance from
    • The insurance companies manager
  • Question of

    What was the first ancient civilization on record to use life insurance?

    • Roman
    • Israelite
    • Greek
    • Egyptian
  • Question of

    Who invented the first actuarial tables?

    • Edmund Halley
    • Isaac Newton
    • Elon Musk
    • Fernando Actuarial
  • Question of

    Which of the following factors are likely to increase your life insurance premium?

    • Been male
    • Been female
    • Been young
    • Been old
  • Question of

    What is the usual procedure for claiming a life insurance policy?

    • Provide a death certificate
    • Fill out a death form
    • None of the above
    • All of the above
  • Question of

    If you have a life insurance policy that is tied to your mortgage for the purpose of paying off the mortgage, what happens to the policy as you pay off the mortgage?

    • It decreases in value
    • It increases in value
    • The value does not change
    • I dont know
  • Question of

    On what grounds might a claim be denied?

    • If suicide is the cause of the death
    • If the person died alone
    • If the person died above 40 years
    • If the person died below 40 years
  • Question of

    Who should take out life insurance?

    • Someone with dependants
    • Someone who worries alot
    • Someone who lives alone
    • Someone who cares alot
  • Question of

    People in what age group usually need life insurance?

    • Old people
    • Young professionals
    • Teenagers
    • Retired men and women
  • Question of

    What is the most common reason for retired people to take out a life insurance policy?

    • To assist with funeral cost
    • To pay up loans
    • To pay off mortgage
    • To pay for living a retirement community
  • Question of

    If you have a life insurance policy that is tied to your mortgage for the purpose of paying off the mortgage, what happens to the policy as you pay off the mortgage?

    • It decreases in value
    • The value doesnt change
    • I increases in value
    • I dont know
  • Question of

    Besides family, who else is commonly nominated as a life insurance beneficiary?

    • Businesses
    • Pets
    • Charities
    • Private homes
  • Question of

    Which of the following is a feature of a permanent life insurance policy but not a term policy?

    • Cash value component
    • Fixed term
    • Fixed premiums
    • Fixed mortgage
  • Question of

    What is usually the maximum length of time that you can have a term policy?

    • 30 years
    • 10 years
    • 35 years
    • 15 years
    • 50 years
  • Question of

    What is the first step in deciding how much to spend on life insurance?

    • Calculate your financial value
    • Ask your colleagues what they spend
    • Go with salesperson best offer
  • Question of

    What is the term given to the total amount of coverage you need?

    • Face value
    • Total value
    • Common value
    • Insurance value
  • Question of

    What is a good rule of thumb to help determine how much your policy should be worth?

    • Buy a policy that replaces your salary for 5 to 7 years
    • Buy a policy that suits your family needs
    • Buy a policy that suits your business needs
    • Buy a policy that pays your annual income
  • Question of

    What else do you need to know before taking out a life insurance policy?

    • Policy cancellation term
    • How long you need the policy
    • Both of the above
    • None of the above

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