Important Life Insurance Policy Provisions

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which would not make an appropriate beneficiary?

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1. Choose the best answer as it relates to beneficiaries.

2. Which provision allows the insurance company to cancel the policy due to fraud.

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About This Quiz & Worksheet

We use multiple-choice questions to assess your knowledge of key life insurance provisions. You will be asked about such things as who can be a beneficiary and if there is a limit to the number of beneficiaries named.

Quiz & Worksheet Goals

The quiz will test you on such things as:

  • Rules regarding who can be included as a beneficiary and what they are allowed to receive
  • Provision that discusses policy cancellation due to fraud
  • Provision that allows for additional time to make a missed payment
  • Loan provision of a policy

Skills Practiced

The following skills are displayed:

  • Interpreting information - verify that you can review information regarding policy loan provisions and interpret it correctly
  • Information recall - access the knowledge you've gained regarding who can be included as a beneficiary of the policy
  • Knowledge application - use your knowledge to identify when a policy can be cancelled by the insurance company

Additional Learning

See more on this topic by studying the lesson titled Important Life Insurance Policy Provisions. You will be presented with information on:

  • Definition of life insurance
  • Time of benefits' payments
  • The party that the provisions are meant to protect
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