← Life Insurance and Term Plans

Quick quiz: Life Insurance and Term Plans

5 questions. No time limit. See how much you have understood; your answers are explained at the end.

1. Who receives the money from a life insurance claim? The nominee The insurance agent The employer The bank manager

2. A common rule of thumb for life cover is: 10 to 15 times yearly income, plus loans One month's salary Equal to one year's premium ₹1 lakh for everyone

3. What is a term plan? Pure protection: large cover for a low premium for a fixed period A fixed deposit A plan that always pays back double A health insurance plan

4. Why is honest disclosure of health and habits important? Hiding information can lead to claim problems later It reduces the sum assured It is optional It changes the nominee

5. When should you review your nominee? After marriage, a child's birth or any family change Never Only after retirement Every day

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