Insurance Trivia Quiz Vinod Desai 5 years ago Welcome to your Insurance Trivia Quiz 1. Home insurance can only be purchased by the home owner. This statement is: True False None 2. Your life insurance cover should ideally be at least N times your annual income. What's a good range for N? 2 to 5 50 to 100 0.5 to 1 10 to 20 None 3. What is the most effective product for life insurance? A ULIP (A Unit Linked Insurance Policy) A Term insurance which provides zero returns A Term insurance which provides good returns on investment Any insurance product which also provides some return on investment An insurance product which also provides tax-benefits None 4. What is the best definition of an 'Insurance premium'? The penalty levied upon missing regular insurance payments The additional cost of purchasing a premium quality insurance product The cost of having an insurance cover The additional cost which needs to be paid for premiuming a claim None 5. 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 Term Insurance Policy A Health insurance policy A Car Insurance Policy A Whole life insurance policy None 6. An average individual in India should most definitely have these types of insurances. Pick the option most relevant. Term Life Insurance, Auto Insurance, Health Insurance Unit Linked Insurance, Health Insurance, Auto Insurance Pension plan Insurance, Auto Insurance, Home loan Insurance Home Loan Insurance, Whole life insurance, Auto Insurance None 7. Home loan Insurance is the same Home Insurance. This statement is -- True False 8. Your employer has provided you with 5 Lakhs of Health Insurance Cover. What does this mean? (Select the option most relevant) The effective salary would be CTC + 5 Lakhs The amount will be paid to me, and can be used for any personal need Towards hospitalization expenses, I can claim an amount of upto 5 Lakhs This 5 Lakhs will be paid to me at the end of each year if unused 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 -- Claim period Waiting period No-claim period High-risk period None 10. Which type of life insurance product should one clearly avoid? A product which also provides tax-saving A product which provides zero returns A product which also provides a return None {{#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
