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Life Insurance Types Quiz

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Questions and Answers

Which type of life insurance is purchased to last for a specified period of time?

Term life insurance (correct)
Group life insurance
Permanent life insurance
Whole life insurance

What are the two main categories of life insurance mentioned in the text?

Term life and permanent life (correct)
Group life and whole life
Permanent life and whole life
Term life and group life

What is another term commonly used to refer to permanent life insurance?

Term life insurance
Whole life insurance (correct)
Group life insurance
Coverage through an employer

What type of life insurance is typically sold to individuals and not groups?

<p>Term life insurance (A)</p> Signup and view all the answers

When does coverage expire in a term life insurance policy?

<p>When the specified period ends (D)</p> Signup and view all the answers

Flashcards

Term Life Insurance

A type of life insurance that covers you for a specific period of time.

Permanent Life Insurance

A type of life insurance that lasts your entire life.

Whole Life Insurance

Another term for permanent life insurance.

Term Life Insurance vs. Groups

Usually sold individually, not as a group.

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Term Life Policy Expiration

The coverage ends when the specified time runs out.