A Quiz On Life Insurance: Trivia!
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Questions and Answers
- 1.
What is life insurance?
- A.
A policy that people buy to insure them against a breadwinter's death.
- B.
Insurance after you die
- C.
Insurance when you get a dog
Correct Answer
A. A policy that people buy to insure them against a breadwinter's death. -
- 2.
Is Life insurance only when need when you die?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Life insurance is not only needed when you die. It is a form of financial protection that provides a payout to beneficiaries upon the insured person's death. However, life insurance can also serve other purposes such as providing financial support for dependents, covering debts and expenses, funding education or retirement, and even as an investment tool. Therefore, life insurance can be valuable during a person's lifetime as well, making the statement false.Rate this question:
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- 3.
When is life insurance paid?
- A.
While you are life
- B.
After you die
- C.
All through out your life
Correct Answer
C. All through out your lifeExplanation
Life insurance is paid throughout your life because it is a type of insurance policy that provides financial protection to the policyholder and their beneficiaries. The policyholder pays regular premiums to the insurance company, and in return, the insurance company provides coverage for various events such as death, disability, or critical illness. This coverage is applicable as long as the policyholder continues to pay the premiums. Therefore, life insurance payments occur throughout the policyholder's lifetime, ensuring continuous protection and financial security.Rate this question:
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- 4.
Do big companies give you a chance to be able to get life insurance?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Big companies typically offer their employees the opportunity to enroll in group life insurance plans. These plans provide coverage to employees at a lower cost than individual policies. The coverage amount is usually based on the employee's salary or a fixed amount determined by the employer. This benefit is often part of the overall compensation package provided by big companies to attract and retain talented employees. Therefore, it can be said that big companies do give employees a chance to obtain life insurance.Rate this question:
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- 5.
_____________ was the first life insurance in the United states.
- A.
State Farm
- B.
First United American Life Insurance Company
- C.
Nationwide
- D.
Allstate
Correct Answer
B. First United American Life Insurance CompanyExplanation
First United American Life Insurance Company was the first life insurance company in the United States.Rate this question:
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- 6.
When Ann Reynolds' husband died, did he leave her to be unable to pay the bills?
- A.
No
- B.
Yes
Correct Answer
A. NoExplanation
The answer "no" suggests that Ann Reynolds' husband did not leave her unable to pay the bills after his death. This implies that either he had made provisions for her financially before his passing or she had sufficient means to cover the expenses on her own.Rate this question:
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- 7.
Life insurance comes in _____ and __________ policies.
- A.
Unnessecary and waste of time
- B.
Term and life time
- C.
Dont need insurance
Correct Answer
B. Term and life timeExplanation
The given correct answer is "term and life time". Life insurance policies can be categorized into two main types: term insurance and permanent (or whole) life insurance. Term insurance provides coverage for a specific period of time, usually 10, 20, or 30 years. It offers a death benefit to the beneficiaries if the insured person passes away during the term. On the other hand, permanent life insurance, also known as whole life insurance, provides coverage for the entire lifetime of the insured person. It not only offers a death benefit but also includes a cash value component that grows over time.Rate this question:
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- 8.
When Peggy Claus died she left her husband to be able to stay on track with the payments.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement suggests that when Peggy Claus died, she left her husband in order to ensure that he would be able to continue making payments. This implies that Peggy Claus had some financial obligations or debts that needed to be taken care of, and by leaving her husband, she ensured that he would not be burdened with those responsibilities. Therefore, the correct answer is true.Rate this question:
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- 9.
Life insurance covers natural and accidental deaths.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Life insurance covers both natural and accidental deaths. This means that if the insured person passes away due to natural causes such as illness or old age, or due to an accident such as a car crash or a fall, the insurance policy will provide a death benefit to the designated beneficiaries. This coverage is important as it provides financial protection to the insured person's family or dependents in the event of their untimely demise, regardless of the cause.Rate this question:
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- 10.
Life insurance is needed to __________ your loved ones when they die.
Correct Answer
insureExplanation
Life insurance is needed to provide financial protection for loved ones in the event of the insured person's death. It ensures that beneficiaries are financially supported and can cover expenses such as funeral costs, outstanding debts, and ongoing living expenses. By having life insurance, individuals can have peace of mind knowing that their loved ones will be taken care of financially after their passing.Rate this question:
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Nov 28, 2011Quiz Created by
Ezperez
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