Test Your Life Insurance Knowledge
Life insurance is a key risk-management tool that can help you pursue your financial dreams while protecting the ones you love. It also can be pretty complicated. See where you fall on your understanding of life insurance by taking this short quiz.
Keep in mind that several factors will affect the cost and availability of life insurance, including age, health and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications.
You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.