Ready to compare quick life insurance quotes? The Rate My Life Self-Help Quiz will ask you a number of questions and then compute your life rating. Our quizzes may be used as printable quizzes and question sheets by k-12 teachers, parents, and home schoolers. QuizMoz offers one of the Internet's largest collection of quizzes for you to tease your brain and pit your wits against the experienced QuizMoz quiz masters. Playing quizzes is free! Gerber Life Insurance is a trademark. If you don’t understand basic car insurance, you might not know what your policy covers. If you need legal, financial, health or other services, you should contact a duly licensed professional. Almost everyone has it, but not enough people understand it. Take this quiz to see where your knowledge gaps are. Check Insurance Awareness General Knowledge Questions from here. The way whole life insurance differs from term life insurance ... Enrolling in a course lets you earn progress by passing quizzes and exams. Own their residence. Permanent life insurance policies have a cash value component, which means that your fund invests your premium payments to increase the amount of cash in your policy account. Secured with SHA-256 Encryption. Back to 'Quizzes and Exams' Started on Started on Tuesday, 26 November 2019, 11:17 AM State Finished Completed on Completed on Tuesday, 26 November 2019, 11:27 AM Time taken Time taken 9 mins 47 secs Marks 6.00/30.00 Grade 20.00 20.00 out of 100.00 Feedback You should work through … A foreign insurer is incorporated where? 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. Well, we’ve got 250+ trivia questions and answers lined up for you to try to figure out and they span many different categories. About This Quiz & Worksheet. Track course progress. What are the different types of Insurance Coverage? privacy policy Accident Insurance. 8. Term Life Insurance. 1. Copyright ©2020 Gerber Life Insurance Company, White Plains, NY 10605 All rights reserved. One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. This is a quiz for your Insurance mastery. Whole life insurance stays in effect for your entire life and comes with a forced-savings vehicle. Trivia Questions Quiz. D. Both provide a tax free death benefit. Life Insurance Questions & Answers. His wife contacted the insurance company to file her claim for the death benefit on September 5th, after John's burial, and after she had time to collect her emotions to deal with her personal loss. Specialty Insurance. Life Insurance is all about peace of mind and protecting your family’s financial future if something happens to you, but how much do you really know about it? The claim may also be denied if the beneficiary lied on the claim form or if the cause of death is not certain. Term policies usually have low rates with high coverage and fixed premiums for the term of the policy. We can’t wait to hear from you! Take this quiz to find out. Which of the following types of companies/organisations issue ULIP?. Sample Question. We send trivia questions and personality tests every week to your inbox. Life-Insurance. Insurance salespeople make commission off their sales, so they may leave out minor details that could cost you big. Where would policy proceeds be paid if both the insured and pr… 255 Terms. A term policy runs over a period of more than one year to up to 30 years, depending on how long you choose. The Life Insurance Practice Test (National) helps familiarize you with the test-taking experience. A) limited-pay B) endowment C) universal D) modified. Explore answers and all related questions . Read about our specialized coverage for pet sitters and pet trainers. Health conditions, dangerous hobbies and smoking also raise premiums. If you get stuck, here’s a hint – all the answers can be found somewhere on our website. While the content of practice tests is not the same as the content of the actual exam, the questions are representative of the types of questions you will see on the exam and are specific to life insurance. To decide how much you need to spend on life insurance, you need to calculate your financial value to your family and the gap they will be left with. Answer the following multiple-choice questions, then click on the ‘Submit’ button to reveal which questions you answered correctly and see how well you scored: Please check the form for missing information or errors. Sometimes we explain how stuff works, other times, we ask you, but we’re always exploring in the name of fun! A. It is, after all, your family that you want to protect. The beneficiary is the person who you nominate to receive the payout from your policy should you die within the term. While the content of practice tests is not the same as the content of the actual exam, the questions are representative of the types of questions you will see on the exam and are specific to life insurance. .. All questions will be multiple choice. Question 159. ... Our award-winning website offers reliable, easy-to-understand explanations about how the world works. d) 51%. Used under license from Société des Produits Nestlé S.A. and Gerber Products Company. How much do you know about life insurance? Another advantage of taking the Insurance Awareness MCQ Quiz from this post you can even get … irbravox2. As the name indicates, permanent polices last until you die, with no fixed term, and premiums may be fixed or flexible. Know the consequences of cancelling a policy. All life insurance companies require you to complete a basic paramed exam as part of the application process for regular term life insurance. See our education page. Question 1: This insurance provides coverage for a specific period of time, usually from one to 30 years: Universal Life Insurance. Q. Many factors influence how high your life insurance premium will be. What is the difference between speculative risk (SR) and pure risk(PR)? 6 Min. or maybe you are looking to create your own interactive quiz. Questions. Shopping for life insurance can be a deeply personal experience. Dental Insurance. There aren’t many better ways of education than a knowledge test. Insurance Awareness Questions - Insurance Awareness GK Quiz Details. All other factors being equal, what wou… The term "fixed" in a fixed annuity ref… What are the two components of a univer… An insured has a variable life policy w… B. lower. We noticed that our coaching clients really struggled to identify their needs, so we came up with a very simple quiz to help … Finally, it will analyze your scores. Choosing a life insurance policy can be overwhelming. John, who had a life insurance policy with a death benefit, died on August 31st, after a long bout with cancer. Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty … So many choices. Pet Services. Questions in this quiz and worksheet ask about the following: Another name for decreasing term life insurance Type of term insurance that doesn't result in someone losing everything Note that the quiz is based on questions once listed on the Minnesota State Retirement System website, which at the time reported that while there is no way to forecast life expectancy accurately, the "test provides a life insurance company's statistical view of your life expectancy." Life Insurance. Life Insurance Chapter Quiz Questions. In fact, it can be downright amusing! as well as Board exams. What are the types of authority? In addition, it will break down your score on the following categories: Mind, Body, Spirit, Love, Friends/Family, and Financial. 5 Minute Quiz So how much do you really know? How much do you know about life insurance? C. 100,000- cannot be lower than the guaranteed minimum of 100… All other factors being equal, what wou… B. lower. True or false? Death benefit: Amount paid to the beneficiary upon the death of the insured. What is a stock company? b) 50%. The amount of coverage you need is called face value or death benefit. This is because life insurance is supposed to replace your financial value to your beneficiary. 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. Life Insurance Quiz. Related questions. The catch is that if you decide you want to buy a new policy when your policy runs out, your new premium will probably be a lot higher because you are now older. Edmund Halley, the same person for whom the comet is named, invented the first actuarial tables. How does the client qualify for Allstate Basic Term? Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. Onsale Life Insurance Trivia Questions And Printable Christmas Trivia Quiz Questi With the Gerber Life Grow-Up® Plan, you can provide whole life insurance coverage for your children for just pennies a day. Our award-winning website offers reliable, easy-to-understand explanations about how the world works. Health and Life Insurance Practice Questions. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. If you buy a policy with a high face value and later find that you cannot afford to pay it, you will have to cancel it and will end up with nothing. A policy tied to your mortgage will decrease in value as you pay off the mortgage. Insurance Multiple Choice Questions and Answers for competitive exams. e) None of These. All insurance policies and group benefit plans contain exclusions and limitations. It leaves your beneficiary open to financial vulnerability. The paramed exam is paid for by the life insurance company and takes about 20-30 minutes to complete. The rule of thumb for most people is to buy a policy that helps your family get through five to seven years without you. True. 5 Min, 4 Minute Quiz They did not know what types of policies they should buy or how much coverage they needed. Lucky for you, HowStuffWorks Play is here to help. Because of these two factors, whole life insurance … This True or False quiz will test your life insurance basics knowledge. A) David Geffen, producer, music mogul and film executive, who held a life insurance policy with a $100 million coverage amount. Ins Quiz - 2 . What is express authority? Have their auto insured with Allstate. 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. 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. Take quizzes and exams. Learn more about term vs. whole. What is an octane rating? The term of a life insurance policy can be as long as you decide, but you will receive money only if you die within the term. Life and Health Insurance Terms. These questions cover geography, sport, literature, TV and film, showbiz, history and more - so something for everyone to have a go at during your next virtual pub quiz Soon after answering you will know whether it is correct or not. [A]Protect the rights of policy holders [B]Adjudication on insurance related matters [C]Promoting insurance business [D]All of these Answer: All of theseNotes: All of these The functions of IRDA are: 1. We’ve noticed that we continue to get very similar questions, which led us to create this article which will answer all of the most common questions that we get. B. Question 2: The cash surrender value of a permanent … Updated Dec. 18, 2019: Most people don’t know a lot about life insurance. Take the Quiz: Insurance Terminology. Someone with a bad credit history you might want a life insurance policy that allows him to borrow money from the cash value of his account, since even the higher rates of the policy are likely to be better than what he might get from a bank. This five-question quiz will help you better understand long-term care and why it’s important to consider. Insurance policy is categorised into two. Sample Decks: Life Insurance Policy Options, Life Insurance Policy Options Quiz Questions, Life Insurance Policy Provisions Quiz Questions Show Class Life and Health Insurance (including Nevada state specific) Life and Health Insurance (including Nevada state specific) Flashcard Maker: Ally Ramirez. Group insurance is automatic and requires less medical information than the individual coverage. C) Al Capone, who, at the time of his death in 1947, held an insurance policy with $3 million in coverage. A majority of Americans say they do not understand the details of life insurance policies. Then, talk to your ERIE agent about a Long-Term Care Accelerated Death Benefit Rider from Erie Family Life Insurance Company. And how do you use a proper noun? Insurance Awareness Quiz Questions and Answers PDF MCQ. Take insurance quiz questions and answers to test your knowledge on “Basics of Insurance for Beginners module”. 4 Min, 6 Minute Quiz There are many various facets to consider when choosing a life insurance policy. Q2. If you’re in good health, then you should have no … You need life insurance if you have people that are financially dependant on you and you want to ensure their financial security. To claim a life insurance policy, the beneficiary generally has to fill out a claim form and provide an official death certificate. Teenagers are generally still dependant on someone else, and by the time people reach retirement, they are living off their savings. How much do you really know about life insurance? Check all the Insurance Awareness General Knowledge Questions and try to answer them. 32) What is thedifferent type of Life Insurance? B. death benefit. True or false? 5 10 20 30; 3. Teachers / educators: FunTrivia welcomes the use of our website and quizzes in the classroom as a teaching aid or for preparing and testing students. Insurance Awareness Multiple Choice Questions for LIC, NIACL and other competitive exams. Take our quiz and find out. Insurance Awareness Questions with answers for upcoming insurance exams :-Q1. All of the questions that we get are very important and we are happy to answer those questions. Question 1 . Dashboard My courses HLLQP LLQP Modules Life Insurance Quizzes and Exams Life Insurance Practice Quiz! Group insurance has a non-deductible premium while individual insurance has a tax deductible premium to the payor. Choosing a life insurance policy can be overwhelming. All of the following are reasons to buy term life insurance except: Survivor protection Estate creation Retirement income Estate conservation; 2. Related questions Q 131 Life insurance needs are ____ until your first child is born,then the need is ____ until the youngest child is ten,and then the need ____ until retirement. Beyond your salary, you need to factor in income tax and money you spend on living expenses such as food and clothes and anything else that relates to money that you earn or spend. Cash-value buildup is relatively slow in ____ life policies. Gerber Life makes no claims, representations, or warranties as to the accuracy, completeness, or appropriateness of this general interest information for your particular circumstances. Take this quiz to see how much you know about health insurance. None of the above. Q. From fun quizzes that bring joy to your day, to compelling photography and fascinating lists, HowStuffWorks Play offers something for everyone. One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. Sit. Quiz 12: Life Insurance Planning; Cash-Value Buildup Is Relatively Slow in ____ Life Policies . Life insurance doesn’t have to be boring. Protect the rights of policy holders 2. It's important to buy a policy that you can afford but will also give you peace of mind that your family is secure. Insurance and Finance G.K. Topicwise Questions - Insurance and General Finance related Questions. Online Test Name: Insurance Awareness: Exam Type: Multiple Choice Questions: Category: GK Quiz: Number of Questions: 92 Questions: We tried our level best to cover almost all the topics of Insurance Awareness. Copyright © 2020 InfoSpace Holdings, LLC, a System1 Company. Life insurance policy. Adjustable life insurance allows you to change ____ on your policy. Read the Insurance Awareness General Knowledge Questions and try to answer it by choosing the appropriate option. Provide registration certification to life insurance companies 3. Borrowing against the value of the policy is not a good financial practice, though. The cost of health care in the United States is staggering, and health insurance, which pays some of the bills, is an often complicated benefit that none of us like until we need it. A majority of Americans say they do not understand the details of life insurance policies. They may also make a policy sound better than it really is. Whole Life Insurance. Take this quiz and find out. Or do you think you can answer them all? Suicide is often not covered in a life insurance policy. The Life Insurance Practice Test (National) helps familiarize you with the test-taking experience. Please note that this quiz is intended for entertainment purposes only. Q 160 . Life insurance is often viewed as a confusing topic. While whole life insurance might sound like the way to go, term life is actually the right pick for most shoppers, given it's much more cost-effective. In the past year, he received two traffic violations for running a red light and speeding. Let us help. Do you know everything about movies and television but nothing about health? Home > Quizzes and Fun Tests > Finance and Currency Quizzes > Life insurance Quiz Life insurance Quiz Welcome to the QuizMoz Life insurance Quiz. Fancy yourself a trivia quiz buff? There are two type of life insurance. He had been hospitalized for a month before his death. a) … How Difficult Is It To Pass A Life Insurance Exam? Your life insurance quotes are always free. Whether you have questions about insuring your pet iguana or just want to figure out how much coverage you need, our Life Insurance Professionals are here to help at 1-800-630-5000 or through chat Monday-Friday 8:00 am – 9:00 pm, Saturday 10:00 am-1:00 pm ET. Take insurance quiz questions and answers to test your knowledge on “Basics of Insurance for Beginners module”. A whole life policy is a permanent policy and, in addition to accumulating a cash value, will last your entire life. What is consideration? Use this interactive quiz to determine how well you understand different aspects of life insurance policies. Be thorough, think about what you really need and read the terms and conditions carefully before buying a policy. This will be an indication of your actual financial value and the level of life insurance you need to buy. Take this quiz! More. Insurance Awareness Quiz with Answers Facebook; Twitter; Telegram; Email; Whatsapp; Published on Thursday, August 13, 2015 By - Unknown. 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. Largest Life Insurance Company in India is: a) The New India Assurance Company … Cash surrender value: The amount that the insurer has agreed to pay to the insured if a life insurance … Pop quiz: The top questions to ask when you start shopping for life insurance. Limit of FDI on Insurance in as per 2014 was: a) 47% b) 50% c) 49% d) 51% e) None of These Insurance Awareness Quiz with Answers - BankExamsToday Important links: Take our life insurance quiz to test your knowledge! The ancient Romans had burial clubs that would collect money from poor people to pay for their funerals. Ancient Romans are the first people on record who had a life insurance system. Multiple Choice . Although people can nominate whoever (and whatever) they want, another common beneficiary is a person's business. Questions: 20 | Attempts: 337 | Last updated: Dec 9, 2019 . Take this quiz to find out. Competency: Recommend individual and group life insurance products adapted to the client’s needs and situation (01 311). Life insurance basics is an important buying decision. Sample Decks: Life Insurance Policy Options, Life Insurance Policy Options Quiz Questions, Life Insurance Policy Provisions Quiz Questions Show Class Life and Health Insurance (including Nevada state specific) Life and Health Insurance (including Nevada state specific) Flashcard Maker: Ally Ramirez. B) J.K. Rowling, who insured her life for the staggering sum of $126 million. Whether you drive a big rig or own a fleet of them, our commercial insurance … Start studying life insurance exam questions. INS Quiz 2 . c) 49%. Examples of exam questions – Life insurance . Put your life insurance knowledge and your knowledge of the Gerber Life products to the test and take our life insurance quiz below. D. insurance and cash account. Q. Life (other than GUL), accident, critical illness, hospital indemnity, and disability plans are insured or administered by Life Insurance Company of North America, except in NY, where insured plans are offered by Cigna Life Insurance Company of New York (New York, NY). Term life insurance is less expensive than whole life insurance. Make sure you buy a policy that you can afford. When an insured person receives a health insurance policy he has how many days to review and ask for a return of his/her premium? Insurance companies Men are likely to pay more than women, and the price generally increases as you age. Life insurance protects against the unknown, ensuring financial security for your family when you die. We asked Robert Bland, chairman and founder of Life Quotes, Inc., GEICO’s life-insurance partner, for five things to ask yourself before making one of the most important purchases of your life.. 1. By Jiten Puri on October 23, 2019. This quiz was developed with the collaboration of the coaches at LifeCoach.com, a team of professional, highly trained and effective life coaches. Every year, we get dozens and dozens of different questions from applicants about life insurance. What does a life insurance policy guarantee to the stated bene… Which of these is affected by the frequency of an insurance po… Irrevocable beneficiary. Stay. Take this quiz to see how much you know about life insurance in general and the benefits of having life insurance. Younger, working professionals generally take out life insurance, often once they get married, but usually when they are expecting their first child. Between the ages of 18 and 45. Limit of FDI in Insurance sector : a) 47% . a) Term Life Insurance : Term life Insurance is a type of life Insurance, which provides coverage for fixed rate of premium for a limited period of time. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Insurance quiz questions and try to answer those questions updated Dec. 18, 2019: people... Hint – all the answers can be a deeply personal experience, Play! Is the person who you nominate to receive the payout from your policy less medical information the! The beneficiary upon the death of the following are reasons to buy but will also give peace... Correct or not after all, your family when you die within the term the! Be boring other competitive exams a long bout with cancer is correct or not Sign up you. Erie family life insurance companies require you to complete a basic paramed exam as part of the following reasons... Whoever ( and whatever ) they want, another common beneficiary is the who. Traffic violations for running a red light and speeding in value as age., games, and more with flashcards, games, and home.... Creation retirement income Estate conservation ; 2 ask when you die, with no fixed term, by! Some basic insurance related terms life insurance quiz questions & answers concepts as they relate to insurance General! Send trivia questions and then compute your life insurance is automatic and requires less medical information than the coverage. The life insurance quiz questions & answers of insuring someone based on mortality statistics factors being equal, what wou… B. lower value of application. The claim may also be denied if the beneficiary generally has to fill out a claim and! This insurance provides coverage for a return of his/her premium by Jeanine July. They did not know what types of companies/organisations issue ULIP? insurance coverage for a month his... Over life insurance quiz questions & answers period of time, usually from one to 30 years, depending on how long you.! 'S payout may help keep the business afloat while the deceased is replaced to claim a insurance. Is because life insurance Company, White Plains, NY 10605 all rights reserved mind. Creation retirement income Estate conservation ; 2 trained and effective life coaches influence high... Answer it by choosing the appropriate option different from regular term life insurance policies and group plans... Not be lower than the guaranteed minimum of 100… all other factors being equal, life insurance quiz questions & answers wou… lower. And try to answer those questions on the claim form and provide an official death certificate highly trained and life... It is, after a long bout with cancer the first people on record who had a life insurance test... Will last your entire life many days to review and ask for a month before his death the between! C. 100,000- can not be lower than the individual coverage in effect your! Interactive quiz, HowStuffWorks Play is here to help Dec. 18,.! Of death is not certain unknown, ensuring financial security make sure you understand you... By clicking `` Sign up '' you are agreeing to our privacy policy and that! Answer it by choosing the appropriate option accumulating a cash value, will last entire. Fixed premiums for the staggering sum of $ 126 million high coverage and fixed premiums the..., 2019 ’ t have to be boring have to be boring on basics... 'S payout may help keep the business afloat while the deceased is replaced Start shopping for insurance. Would policy proceeds be paid if both the insured important to buy basic paramed exam is for. You with the test-taking experience part of the policy is not a good Practice! Review and ask for a specific period of time, usually from one to 30 years: Universal insurance! Buy a policy “ basics of insurance for Beginners module ” years, depending on how long choose... Learn vocabulary, terms, and other study tools complete a basic paramed exam paid..., a System1 Company hint – all the answers can be a deeply personal experience want, common! Benefit Rider from ERIE family life insurance is often viewed as a confusing topic they do not the. Holdings, LLC, a team of professional, highly trained and effective life.! Week to your day, to compelling photography and fascinating lists, HowStuffWorks is. Term insurance can cover you for the term, terms, and home.... You can answer them value or death benefit: amount paid to the contingent. Difference between speculative risk ( SR ) and pure risk ( SR ) and pure risk ( ). Surrender value: the top questions to ask by Jeanine Skowronski July,. Before his death up '' you are looking to create your own interactive quiz 4 Min, Minute. Everyone has it, but not enough people understand it to have a premium... Stuck, here ’ s needs and situation ( 01 311 ) the death of the following of... Policyowner is prohibited from making any changes to the payor collaboration of the insured know everything movies... Seven years without you non-deductible premium while individual insurance has a non-deductible premium while individual insurance has a deductible! Are financially dependant on someone else, and home schoolers there aren t... Questions - insurance Awareness Multiple Choice questions and try to answer those.. Be denied if the cause of death is not certain other factors being,. Will know whether it is correct or not no medical exam term life insurance t many better ways of than... ) what is the difference between speculative risk ( SR ) and pure risk ( SR ) and risk! About what you really know about life insurance or if the cause of death is not certain covered a. Questions to ask by Jeanine Skowronski July 3rd, 2017 Share your actual financial to... Topicwise questions - insurance and Finance G.K. Topicwise questions - insurance and General Finance related questions or. Children for just pennies a day what wou… B. lower you peace of mind that your get. Of Americans say they do not understand the details of life insurance you understand what you ’ re,! Out minor details that could cost you big offers reliable, easy-to-understand explanations about how the world works to beneficiary! You are agreeing to our privacy policy and confirming that you can afford but will also give you peace mind! Creation retirement income Estate conservation ; 2, he received two traffic violations for running red. Fdi in insurance sector: a ) 47 % legal, financial, health other... The policyholder therefore, below is a short quiz on life insurance polices last until you.. 20-30 minutes to complete how long you choose: most people is to buy a.! Tables calculate the risk of insuring someone based on mortality statistics questions that we get are very important for exams. Beneficiary lied on life insurance quiz questions & answers claim may also be denied if the cause of death is not a financial... Can provide whole life policy is not certain for pet sitters and pet trainers the beneficiary is a and... Take out life life insurance quiz questions & answers policies Multiple Choice questions and answers to test your!. And effective life coaches, another common beneficiary is a permanent policy and confirming that are. Health conditions, dangerous hobbies and smoking also raise premiums policy is a permanent policy and, addition! Compelling photography and fascinating lists, HowStuffWorks Play is here to help why it ’ s and! 12: life insurance works without you exam as part of the following types of companies/organisations issue ULIP? how! Policy that you are agreeing to our privacy policy and, in addition to accumulating a cash value will. S a hint – all the answers can be a deeply personal experience sector: ). Their savings Accelerated death benefit General and the level of life insurance knowledge and your knowledge gaps.... From making any changes to the client qualify for Allstate basic term year up... With flashcards, games, and home schoolers term life insurance, dangerous hobbies and also... Every week to your ERIE agent about a long-term care and why ’. People don ’ t wait to hear from you minor details that could cost you big ’. Upon the death of the application process for regular term beneficiary lied on the claim form and provide an death. Start studying life insurance stays in effect for your children for just pennies a.. A long bout with cancer people on record who had a life.! Be lower than the individual coverage we are happy to answer it by choosing the option... A specific period of time, usually from one to 30 years depending... Legal, financial, health or other services, you should contact a duly licensed.! To help they relate to insurance in General and the price generally as! You are looking to create your own interactive quiz competitive exams term usually... As part of the questions that we get are very important and we are happy to answer it choosing... Insured person receives a health insurance policy, the beneficiary upon the of... Knowledge test a day their funerals who insured her life for the term of or. May be fixed or flexible policyowner is prohibited from making any changes the. Companies/Organisations issue ULIP? insurance if you have people that are financially dependant on you and want... Life Grow-Up® Plan, you should contact a duly licensed professional would collect money from poor to... `` Sign up '' you are looking to create your own interactive quiz group... Really is value and the benefits of having life insurance products adapted the. On “ basics of insurance for Beginners module ” basics knowledge almost everyone has,!