Life Insurance Quizzes, Questions & Answers

Life insurance guarantees that upon the death of a loved one, an insurance company pays a designated person a sum of money. The policy can also cover funeral expenses. You might think life insurance as a somewhat new idea, but did you know there were forms of insurance used in ancient China and Rome?

Did you know that the modern life insurance policies were developed in the 1700’s in England. Can you name the three different types of life insurance? True or false: Before getting life insurance, you must take a medical exam? Learning more about the policy is a great way for you to plan your future, and our life insurance quizzes are the perfect way to test your knowledge.

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Life And Health Insurance License Exam Practice Test

Are you gearing up to conquer the Life and Health Insurance License Exam? Whether you're taking your initial steps into the insurance industry or seeking to advance your career, our "Life and Health Insurance License...

Questions: 150 | Attempts: 47856 | Last updated: Jan 13, 2025

Sample Question
A disability income policy social insurance supplement (SIS) benefit rider:

Pays benefits only if it turns out the insured is eligible for benefits from social insurance

Pays a benefit if the insured is injured on the job and qualifies for workers compensation benefits

Provides a payment only when the insured is totally disabled, but not receiving any social insurance benefit plans

Provides for a bonus payment that will match social security disability income benefits, if they are paid

The Ultimate Life Insurance Practice Test: Assess Your Knowledge!

Are you ready to embark on a journey through the complexities and nuances of life insurance? Whether you're a seasoned professional looking to sharpen your skills or someone taking their first steps into the world of life...

Questions: 53 | Attempts: 27468 | Last updated: Nov 24, 2024

Sample Question
Every licensee must indicate on which of the following documents his or her license number.

Print advertisements

Business cards

Written price quotations

All the above

Variable Life Insurance- Agent Licensing Exam Prep Test

Are you aspiring to become a life insurance agent? And preparing to clear the final exam to earn your license? Before that, you need to have a clear idea of all the legal terms and policies in this field. This quiz especially...

Questions: 50 | Attempts: 7976 | Last updated: Aug 20, 2024

Sample Question
Variable life insurance policy owners may make a withdrawal in terms of________.

Number of units or fixed monetary amount through cancellation of units.

Number of units or fixed monetary amount through reduction of the life cover sum assured

Fixed monetary amount only through reduction of the life cover sum assured

Number of units through cancellation of units

New York Life Insurance 2

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Questions: 97 | Attempts: 1532 | Last updated: Aug 2, 2024

Sample Question
A group of 15 skydivers met at a seminar and began talking about life insurance during a break. Because it was expensive to get individual life insurance, they decided to band together to form a small group so that they could qualify for group life insurance. After they applied for group life insurance, they were rejected. Why?p

The group has not been established for long enough.

The purpose of the group was to purchase life insurance

Their profession poses too high of a risk for the insurer.

Life Insurance Test

The following Test is broken into 5 sections:1. Life Insurance Basics (Questions 1-8)2. Sun Life Financial Product (Questions 9-26)3. Process (Questions 27-38)4. Selling (Questions 39-55)5. Illustrations (Questions 56-70)

Questions: 70 | Attempts: 748 | Last updated: Mar 20, 2023

Sample Question
What is insurance?

A system designed to protect people against financial hardship in the event of a loss.

An open-ended fund operated by an investment company which raises money from shareholders and invests in a group of assets.

An instrument that signifies an ownership position in a corporation, and represents a claim on its proportional share in the corporation's assets and profits.

A debt instrument issued for a period of more than one year with the purpose of raising capital by borrowing.

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Variable Life Insurance Policy Quiz - Every Agent Must Know This

Variable Life Insurance Policy Quiz - Every Agent must know this

Variable universal life insurance is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the...

Questions: 42 | Attempts: 528 | Last updated: Jan 9, 2025

Sample Question
Which of the following is NOT a key feature of a variable life insurance policy?

Guaranteed minimum death benefit

Cash value accumulation

Investment options for cash value

Fixed premium payments

Washington Life And Disability Insurance Quiz

Washington Life and Disability Insurance Quiz

Questions: 743 | Attempts: 257 | Last updated: Jan 30, 2023

Sample Question
What is the Fair Credit Reporting Act Purpose?

A. Establishes Procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant and properly used.

B. Protects consumers against the circulation of inaccurate/obsolete personal/financial information.

C. Protects against discrimination

D. Both A and B are correct.

Group Life Insurance Quiz: MCQ!

Have you ever been offered group life insurance? An employee for a company is covered for as long as he or she remains with the company. If the person leaves or is fired, the person loses that insurance. An employer provides...

Questions: 10 | Attempts: 466 | Last updated: Mar 22, 2023

Sample Question
All of the following are characteristics of a Group Life Insurance Plan EXCEPT

Group underwriting

Master contract

Individual underwriting

Probationary period

Life Insurance Quiz MCQ Test!

Questions: 25 | Attempts: 247 | Last updated: Mar 22, 2023

Sample Question
Which of the following statements best describes an annuity payout period?

It guarantees income will be paid for any period the owner wants.

It guarantees that income will be paid for any period beginning at age 65.

This period is intended to provide income for the rest of the annuitant's life.

This period must be set for a specific number of years.

Life Insurance Practice Exam C

Questions: 75 | Attempts: 581 | Last updated: Mar 21, 2023

Sample Question
A representation in an insurance contract qualifies as:

An opinion

An implied warranty

An express warranty

A policy provision

California Life Insurance Practice Exam B

Practice examination for Life Insurance Licensing in California

Questions: 75 | Attempts: 877 | Last updated: Mar 22, 2023

Sample Question
Which statement is false concerning insurance company regulations?

Insurers may not advertise their membership in the Guarantee Association.

An insurer suffering from an impairment of their minimum required paid-in capital is labeled solvent.

The commissioner may begin conservation proceedings against companies who cannot meet solvency regulations.

An insurer may be liquidated if conservation proves to be futile.

Practice Exam 5 - Life Insurance

Practice Exam 5 - Life insurance

Questions: 75 | Attempts: 582 | Last updated: Mar 22, 2023

Sample Question
Any transaction that involves purchasing a life insurance policy and terminating an existing policy is known as:

Replacement

Reinsurance

Reinstatement

Assignment

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Life Insurance Quizzes, Questions & Answers

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