5 Questions
Life insurance promises to pay a designated beneficiary a sum of money upon the death of an insured person.
True
Life insurance policies can include benefits for terminal illness or critical illness.
True
The policyholder of a life insurance typically pays a premium only as one lump sum.
False
Specific exclusions written into the life insurance contract limit the liability of the insurer.
True
Difficulties may arise in life insurance contracts when an event is not clearly defined.
True
Life Insurance Basics Quiz: Test your knowledge about life insurance policies, beneficiaries, and payout triggers. Learn about the key aspects of life assurance and how it provides financial protection in the event of death, terminal illness, or critical illness.
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