Life insurance, like any insurance, gives you peace of mind should something happen to you. But knowing what you need and what to look for in a life insurance policy can be overwhelming. If you are thinking about taking out a life insurance policy, see how much you know about life insurance through our handy quiz.
Question 1 of 20
What is the goal of life insurance?
Question 2 of 20
How long is the term of a life insurance policy?
Question 3 of 20
Who is the beneficiary of a life insurance policy?
Question 4 of 20
What was the first ancient civilization on record to use life insurance?
Question 5 of 20
Who invented the first actuarial tables?
Question 6 of 20
Which of the following factors are likely to increase your life insurance premium?
Question 7 of 20
What is the usual procedure for claiming a life insurance policy?
Question 8 of 20
On what grounds might a claim be denied?
Question 9 of 20
Who should take out life insurance?
Question 10 of 20
People in what age group usually need life insurance?
Question 11 of 20
What is the most common reason for retired people to take out a life insurance policy?
Question 12 of 20
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?
Question 13 of 20
Besides family, who else is commonly nominated as a life insurance beneficiary?
Question 14 of 20
Which of the following is a feature of a permanent life insurance policy but not a term policy?
Question 15 of 20
What is usually the maximum length of time that you can have a term policy?
Question 16 of 20
What is the first step in deciding how much to spend on life insurance?
Question 17 of 20
What is the term given to the total amount of coverage you need?
Question 18 of 20
What is a good rule of thumb to help determine how much your policy should be worth?
Question 19 of 20
What else do you need to know before taking out a life insurance policy?
Question 20 of 20