Insurance Trivia Quiz Vinod Desai 5 years ago Welcome to your Insurance Trivia Quiz 1. What is the most effective product for life insurance? A Term insurance which provides zero returns An insurance product which also provides tax-benefits A ULIP (A Unit Linked Insurance Policy) A Term insurance which provides good returns on investment Any insurance product which also provides some return on investment None 2. Home insurance can only be purchased by the home owner. This statement is: False True None 3. Your life insurance cover should ideally be at least N times your annual income. What's a good range for N? 2 to 5 0.5 to 1 10 to 20 50 to 100 None 4. An insurance agent receives commissions(a cut) every time he/she sells a product. Directly or indirectly, these commissions are paid by you. Which insurance product below do you suppose has the highest agent commissions? A Whole life insurance policy A Term Insurance Policy A Health insurance policy A Car Insurance Policy None 5. An average individual in India should most definitely have these types of insurances. Pick the option most relevant. Home Loan Insurance, Whole life insurance, Auto Insurance Unit Linked Insurance, Health Insurance, Auto Insurance Pension plan Insurance, Auto Insurance, Home loan Insurance Term Life Insurance, Auto Insurance, Health Insurance None 6. Your employer has provided you with 5 Lakhs of Health Insurance Cover. What does this mean? (Select the option most relevant) Towards hospitalization expenses, I can claim an amount of upto 5 Lakhs The amount will be paid to me, and can be used for any personal need This 5 Lakhs will be paid to me at the end of each year if unused The effective salary would be CTC + 5 Lakhs None 7. Which type of life insurance product should one clearly avoid? A product which provides zero returns A product which also provides a return A product which also provides tax-saving None 8. What is the best definition of an 'Insurance premium'? The additional cost of purchasing a premium quality insurance product The penalty levied upon missing regular insurance payments The additional cost which needs to be paid for premiuming a claim The cost of having an insurance cover None 9. When you buy a new health insurance policy, several hospitalizations due to aspects like pre-existing conditions, maternity etc. may not be covered in the first few years. This period is usually called -- No-claim period High-risk period Claim period Waiting period None 10. Home loan Insurance is the same Home Insurance. This statement is -- False True {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. The server responded with {{status_text}} (code {{status_code}}). Please contact the developer of this form processor to improve this message. Learn More{{/message}}{{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. Even though the server responded OK, it is possible the submission was not processed. Please contact the developer of this form processor to improve this message. Learn More{{/message}}Submitting… Time's up Mutual Fund QuizDateDecember 27, 2019In relation toSimilar postFinancial Wellness QuizDateJanuary 14, 2020In relation toSimilar postTest Your Knowledge of FinancesDateOctober 23, 2018In relation toSimilar post
