Choosing a Life Insurance Policy


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question 1 of 3

What is the difference between term and whole life insurance?

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1. A young, female logger and middle age, male sales representative with a history of allergies and high cholesterol are both applying for life insurance policies. Whose policy will be more expensive and why?

2. A product that protects from financial loss in the event of a death is _____, and its proceeds are paid out _____.

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About This Quiz & Worksheet

There are many various facets to consider when choosing a life insurance policy. This quiz and worksheet combination will help test your knowledge of pertinent terminology and types of life insurance available.

Quiz & Worksheet Goals

This quiz will test you on:

  • Whole and term life insurance
  • Role of beneficiaries
  • Definition of premium
  • Life insurance rates

Skills Practiced

Be prepared to practice these skills:

  • Critical thinking - apply relevant concepts to determine the best life insurance option for a given example
  • Distinguishing differences - compare and contrast topics from the lesson, such as whole and term life insurance
  • Information recall - access the knowledge you've gained regarding premiums
  • Knowledge application - use your knowledge to answer a question about beneficiaries

Additional Learning

Deepen your comprehension by studying the accompanying lesson, Choosing a Life Insurance Policy. This lesson will focus on the following objectives:

  • Learn about life insurance
  • Identify reasons you should consider purchasing insurance
  • Understand who may benefit from your policy
  • Determine the specifics of term life insurance
  • Define a whole life insurance plan
  • Ascertain how to apply for life insurance