MediFair Document Quiz

Are you a legal citizen of the United States or have permanent residential status?

Yes

What is a premium?

An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance.

Premiums are a common form of cost sharing under many health insurance plans.

A deductible the amount of money on an insurance claim that you would pay before the coverage kicks in and the insurer pays.

True

False

The only benefit that life insurance offers is a payout to loved ones if the person who is insured dies.

Yes

The cost of a life insurance policy is based on:

Your health and age

The type of car you drive

The amount of assets you have

All of the above

A common guideline for how much life insurance coverage you should get is:

A year's salary

5x your salary

10x your salary

40x your salary

You must earn an income before you can get life insurance.

True

False

Whole life insurance cash value is guaranteed to grow.

True

False

Because a permanent life insurance policy will pay a death benefit when I die, I must pay premiums until I die.

True

False

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