Insurance Review

Front

A woman has just received a very expensive piece of jewelry. The woman has homeowner's insurance. Which statement would it be most appropriate for her to make to her insurance agent?

Back

"I think I need a personal property floater."

Front

For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrender, the person will receive: A. one-fifth of the $20,000 face value. B. $20,000 less the premiums paid. C. a calculated amount of money which includes the premiums paid as well as the interest on that money. D. a calculated amount of money that must be converted to a term life insurance policy.

Back

a calculated amount of money which includes the premiums paid as well as the interest on that money.

Front

The only type of life insurance that does not develop a cash value is:

Back

Term life insurance

Front

A person buys a homeowner's insurance policy with a $250 deductible, which means the person will

Back

have to pay the first $250 which will be deducted from the claim settlement paid by the insurance company.

Front

Sally took out a $50,000 life insurance policy. The $50,000 amount of coverage is called the:

Back

Death benefit or face value

Front

When a self-employed person decides to purchase disability insurance it is generally to

Back

protect against the financial effects of not being able to work.

Front

Mr. Akon's wife died. The money he received as the beneficiary on her life insurance is called the:

Back

Death benefit or face value

Front

The amount paid for insurance is the

Back

premium

Front

Insurance that protects your family against financial loss due to your death is

Back

life insurance

Front

The type of insurance that provides protection against financial loss from medical bills is called

Back

health insurance