FREE Life and Health Insurance Random Questions and Answers

Question 1

Which of the following must be confirmed for an insurance application to change?

Accepted Answer

Change must be initiated by the applicant

Answer

Change must be approved by the insurer

Answer

Change must be initialed by the agent

Answer

Change must be notarized

Question 2

Who receives your death benefit when you pass away?

Accepted Answer

Your Beneficiaries

Answer

Business Partner

Answer

Insurance Company

Answer

Your Pets

Answer

Charity

Question 3

US citizens who turn 65 are eligible for Medicare, a federal insurance program. John has already started receiving his Social Security retirement benefits, even though he turns 65 in three months. What is required of him for his Medicare coverage to be active?

Accepted Answer

Nothing, as you are automatically enrolled once you reach the age of 65

Answer

Submit an application to his local insurance agent

Answer

Submit an application to the federal government

Answer

Forward a request for consideration to your State Insurance Department

Question 4

The IRS permits taxpayers to write off medical expenses that total more than 7.5% of their adjusted gross income. According to this guideline, which of the following is a tax-deductible medical expense?

Accepted Answer

Long Term Care insurance premiums

Answer

Travel accidental insurance premiums

Answer

Individual disability income Insurance premiums

Answer

Dread Disease insurance premiums

Question 5

How much is covered by term life insurance?

Accepted Answer

A couple of years at a time, then it must be renewed

Answer

For life

Answer

A couple of years at a time, then it can't be renewed

Question 6

The kind of insurance that guards against financial loss due to medical expenditures is referred to as

Accepted Answer

Health Insurance

Answer

Coinsurance

Answer

Premium

Answer

Life Insurance

Question 7

Insurance that shields your loved ones from financial hardship following your passing is

Accepted Answer

Life Insurance

Answer

Disability Insurance

Answer

Coinsurance

Answer

Comprehensive Insurance

Question 8

Hospice care offers services to people who are:

Accepted Answer

Terminally ill

Answer

In a hospital and expected to recover

Answer

Receiving respite care through Medicare

Answer

None of the above

Question 9

When purchasing a disability insurance policy, why is it important to include a rehabilitation clause?

Accepted Answer

To encourage disabled insureds to return to their original occupations

Answer

To compensate insured's who lose their sight in both eyes

Answer

To provide increases in disability benefits to keep pace with inflation

Answer

To pay a portion of a workers pre-disability income when the insured returns to work

Question 10

In what capacity does an agent who is also a broker, attorney, life agent, or bail agent handle premiums and returns for their insured clients?

Accepted Answer

Fiduciary

Answer

Natural person

Answer

Managing general agent

Answer

Legal representative