25 Questions
Which type of life insurance typically has a lower premium initially, but increases with each renewal?
Term Life
What is a common characteristic of Whole Life insurance?
Higher premiums initially
Which type of life insurance offers death benefits and potentially a cash and loan value?
Universal Life
What is an advantage of Term Life insurance?
Low outlay
Universal Life insurance is characterized by which of the following?
Flexible premiums, after a minimum cost of insurance
What is the purpose of repatriation benefits in the context of insurance?
To transport the mortal remains of the insured back to their place of residence
What type of accident would trigger repatriation benefits, according to the text?
An accident that occurs outside of the city of residence
Which of the following professions is mentioned in the text as being related to repatriation benefits?
Police officer
What is the cost of repatriation benefits in the event of an accident, according to the text?
The cost is borne by the insurer
What is the common thread among the professions mentioned in the text?
They are all related to emergency services
Under what condition will a household policy not cover a theft claim?
If there is no evidence of forced and violent entry or exit
What is excluded from flood coverage under the policy?
Damage caused by subsidence and landslip
Which policy is required when purchasing a motor vehicle?
Motor insurance policy
Which scenario is often not considered part of household policies?
Theft without evidence of forced entry
What type of insurance might you consider when planning an international trip?
Travel insurance
What does Third Party cover not insure against?
Bodily injuries to the vehicle driver
What is the primary focus of Third Party cover?
Insuring against claims for third party injuries and property damage
How does Third Party cover handle property damage?
It covers loss or damage to third party property caused by your vehicle
Which of the following accurately describes the individuals protected under Third Party cover?
Other persons injured or killed due to your vehicle
Which scenario would not be covered by Third Party cover?
Your vehicle needing repairs after an accident
What type of expenses related to travel or accommodation will be reimbursed under curtailment?
Expenses incurred due to early return
Which scenario would likely qualify for reimbursement under curtailment?
Loss of non-refundable deposits on a canceled trip
Curtailment would NOT cover which of the following expenses?
Additional nights booked due to itinerary changes
Which of the following is essential for reimbursement under curtailment?
Expenses incurred must be due to loss of travel or accommodation
Which expense example aligns with coverage under curtailment?
Prepaid, non-refundable hotel bookings
Learn about the different types of life insurance, including Term Life, Whole Life, and Universal Life, and their features and benefits. This quiz covers the characteristics of each type, including premium costs and policy benefits.
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