Test Your Knowledge: Life/LTC Quiz Questions

What is true about purchasing a life insurance policy?
1. Permanent life insurance may require a medical exam, but term does not
2. Term life insurance covers you for designated number of years, permanent life insurance may cover you for life.
3. You can only buy a permanent life insurance if you have owned a term policy
4. You cannot purchase either type of policy if you have group life through work.
What is a goal for life insurance?
1. To create income for your spouse
2. To provide your family financial security
3. To pay outstanding debt
4. All of the above
Which of the following factors can affect your life insurance premiums?
1. Age
2. Smoking status
3. Gender
4. All of the above
What estimated percentage of people over the age of 65 will require long-term care services in their lifetime?
1. 27%
2. 50%
3. Less than 10%
4. 70%
The main reason people do not purchase a long-term care policy is because Medicare will cover most expenses
1. True
2. False
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