Allstate Life Insurance Company! Trivia Questions Quiz
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When is the best time to ask our clients about Life Insurance?
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Only when they ask
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When we can fird the time
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When we know all there is to know about life insurance
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Today
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This quiz tests knowledge on Allstate Life Insurance policies, focusing on Basic Term qualifications, True Term Policy layers, available riders, and underwriting databases. It's designed for individuals interested in insurance policy details and underwriting processes.
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- 2.
Using Advisys Backroom Technicians Life Needs Analysis which of the following expenses are most important to consider?
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Mortgage and other outstanding debts
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Funeral and other final expenses
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Capital needed for College
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All of the above
Correct Answer
A. All of the aboveExplanation
The correct answer is "All of the above" because Advisys Backroom Technicians Life Needs Analysis considers all of these expenses as important factors to consider. Mortgage and other outstanding debts are crucial to evaluate as they can have a significant impact on the financial stability of the individual's family. Funeral and other final expenses are also important to consider as they can be a burden on the family if not planned for in advance. Lastly, capital needed for college is an essential expense to consider, especially if the individual has dependents who will require financial support for their education.Rate this question:
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- 3.
Which of the following would be an example of a Life Event?
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Attending a Taylor Swift concert
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Your young chld takes his or her first step
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Getting Married
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Taking a Caribbean cruise
Correct Answer
A. Getting MarriedExplanation
Getting married is an example of a life event because it is a significant and transformative experience in a person's life. It marks the beginning of a new chapter and involves a commitment to a lifelong partnership. Marriage is a major milestone that often involves a formal ceremony, legal documentation, and a celebration with family and friends. It has long-lasting implications and can have a profound impact on an individual's personal, emotional, and social life.Rate this question:
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- 4.
What is the best way to find people to sell life insurance to?
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Just Ask all of he people who call you
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Use the Green Sheet process with all of your clients
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Ask every person you talk to (no matter what)
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All of the above
Correct Answer
A. All of the aboveExplanation
The best way to find people to sell life insurance to is by utilizing all of the mentioned methods. By asking all of the people who call you, using the Green Sheet process with all of your clients, and asking every person you talk to, regardless of the context, you increase your chances of finding potential customers for life insurance. Each method targets different groups of people and maximizes your outreach, ultimately increasing your chances of success in selling life insurance.Rate this question:
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- 5.
Who is responsible to sell Life Insurance in your agency?
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Your EFS
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The Agent
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LSPs
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Everyone
Correct Answer
A. EveryoneExplanation
In the given question, the correct answer is "Everyone". This implies that all individuals within the agency, including the EFS, the Agent, and the LSPs, are responsible for selling Life Insurance. This suggests that the agency operates under a collective responsibility model, where all members are expected to contribute to the sales of Life Insurance.Rate this question:
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- 6.
When we ask people if they have changed jobs in the last 5 years we are trying to establish?
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If they are a good risk for an auto policy
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What industry they work in
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If they have 401K money with a previous employer
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What their current income is
Correct Answer
A. If they have 401K money with a previous employerExplanation
When we ask people if they have changed jobs in the last 5 years, we are trying to establish if they have 401K money with a previous employer. This information is important because it can give us an idea of their financial stability and long-term savings habits. If they have 401K money with a previous employer, it suggests that they have been saving for retirement and may have a better financial standing.Rate this question:
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- 7.
Why would you sell life insurance for a juvenile?
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To insure his health
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To make grandparents happpy
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To make sure the parents standard of living won't be diminished
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To establish future insurability
Correct Answer
A. To establish future insurabilityExplanation
Selling life insurance for a juvenile is done to establish future insurability. By purchasing life insurance at a young age, the individual can secure coverage for their entire life, regardless of any future health conditions or risks that may arise. This ensures that they will have access to life insurance in the future, even if they develop a medical condition that would make it difficult or expensive to obtain coverage later on.Rate this question:
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- 8.
The Green Sheets will increase my AF sales by....
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Reviewing all of the items that you currently have insured with the client
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Finding out if they own a motorcycle
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Verifying where they live and their email address
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Finding out if they have any life insurance outside of an employer plan
Correct Answer
A. Finding out if they have any life insurance outside of an employer planExplanation
By finding out if the client has any life insurance outside of an employer plan, the Green Sheets can identify potential opportunities to increase AF sales. This information allows the Green Sheets to offer additional life insurance coverage to the client, potentially increasing their overall sales.Rate this question:
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- 9.
Where is App On-Line located?
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Access Allstate
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Alliance
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Gateway
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Rules and Rates Page
Correct Answer
A. Access AllstateExplanation
The correct answer is "Access Allstate" because it is stated in the question that the location of App On-Line is being asked. Therefore, "Access Allstate" is the location where the App On-Line is located.Rate this question:
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- 10.
How many Basic Term policies are allowed per customer?
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One
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Two
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As many as you want
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Four
Correct Answer
A. OneExplanation
Each customer is allowed to have only one Basic Term policy.Rate this question:
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- 11.
What are the three databases used when underwriting a Basic Term application?
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CBC, MIB, and Prescription
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MIB, MLB, and MVR
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MVR, MIB, and Prescription
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TTT, CBC, and MLB
Correct Answer
A. MVR, MIB, and PrescriptionExplanation
When underwriting a Basic Term application, the three databases used are MVR (Motor Vehicle Records), MIB (Medical Information Bureau), and Prescription. MVR provides information about the applicant's driving history, MIB provides medical information about the applicant, and Prescription provides information about the applicant's prescription drug history. These databases are used to assess the risk associated with the applicant and make informed underwriting decisions.Rate this question:
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- 12.
The conversion privilege on a Truefit policy is available for how long?
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The first year only
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10 years
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As long as the insured is insurable
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15 years or the anniversary after age 65 whichever is earliest
Correct Answer
A. 15 years or the anniversary after age 65 whichever is earliestExplanation
The conversion privilege on a Truefit policy is available for 15 years or the anniversary after age 65, whichever is earliest. This means that the policyholder has the option to convert their Truefit policy into a different type of policy for a period of 15 years or until the anniversary after they turn 65, whichever comes first. After this time period, the conversion privilege may no longer be available.Rate this question:
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- 13.
Which of the following is true about a counter offer for Basic Term?
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Allstate will counter offer coverage of $75,000 at a rated price.
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The counter offer is good for 30 days
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Counter offers are not available for Basic Term
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If the client accepts the offer in 7 days they recieve a 10% discount
Correct Answer
A. The counter offer is good for 30 daysExplanation
The correct answer is that the counter offer is good for 30 days. This means that if a counter offer is made for Basic Term, the offer will remain valid for a period of 30 days. After this time, the offer may no longer be available or valid.Rate this question:
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- 14.
Which of the following is true about Allstate's Truefit Life Insurance?
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You can add Primary Term Rider after issue.
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Allows recurring credit card payments
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Is a permanent solution.
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Chronic Illness Rider is available.
Correct Answer
A. Allows recurring credit card paymentsExplanation
Allstate's Truefit Life Insurance allows recurring credit card payments. This means that policyholders have the option to set up automatic payments using their credit card, making it convenient and hassle-free to pay their premiums. This feature ensures that the policy remains active and payments are made on time, providing peace of mind to the policyholder.Rate this question:
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- 15.
How many Primary Term layers are allowed on a True Term Policy?
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2
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4
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5
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3
Correct Answer
A. 5Explanation
A True Term Policy allows for a maximum of 5 Primary Term layers. This means that the policyholder can have up to 5 separate terms within their policy, each with its own duration and coverage. This flexibility allows for customization and adjustment of coverage based on the policyholder's changing needs over time.Rate this question:
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- 16.
If you are looking for simple affordable protection that gives you the largest amount of coverage at a low initial cost, a Truefit policy may be right for you for all the following reasons except.
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Fully Underwritten
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Became a new parent
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Simplified underwriting
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Bought a new home
Correct Answer
A. Simplified underwritingExplanation
A Truefit policy may be right for someone looking for simple affordable protection with a low initial cost. It is not fully underwritten, meaning it does not require extensive medical examinations or evaluations. Becoming a new parent or buying a new home may be reasons to consider a Truefit policy, as these life events often prompt individuals to seek additional coverage. However, the policy does not offer simplified underwriting, meaning it does not have a streamlined application process that requires minimal medical information.Rate this question:
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- 17.
How does the client qualify for Allstate Basic Term?
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Have their auto insured with Allstate
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Between the ages of 18 and 45
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Own their residence
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All of the above
Correct Answer
A. Between the ages of 18 and 45Explanation
The client qualifies for Allstate Basic Term if they are between the ages of 18 and 45. This means that as long as the client falls within this age range, they are eligible for Allstate Basic Term regardless of whether they have their auto insured with Allstate or own their residence.Rate this question:
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- 18.
What riders are available on Basic Term?
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Child Level Term
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Waiver of Premium
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Accidental Death Benefit
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Accelerated Death Benefit
Correct Answer
A. Accelerated Death BenefitExplanation
Basic Term insurance typically offers a range of riders that can be added to the policy for additional coverage. The given answer, "Accelerated Death Benefit," is one of the riders available on Basic Term insurance. This rider allows the policyholder to receive a portion of the death benefit while still alive if they are diagnosed with a terminal illness. It provides financial support to cover medical expenses or other costs associated with the illness.Rate this question:
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- 19.
Which of the following is not true about Truefit?
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Minimum death benefit ages 18-45 is $200,000
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Children's level term rider can only be added at policy issue.
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Minimum death benefit ages 46 and up is $50,000
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Any term period 10 to 30 years
Correct Answer
A. Children's level term rider can only be added at policy issue.Explanation
The statement "Children's level term rider can only be added at policy issue" is not true about Truefit. This means that the Children's level term rider can be added at any time during the policy, not just at the policy issue.Rate this question:
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- 20.
Where is life Quote Online located?
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Access Allstate
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Agency Gateway
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RMPs
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Alliance
Correct Answer
A. AllianceExplanation
The correct answer is "Alliance" because the question is asking about the location of Life Quote Online, and out of the given options, Alliance is the only one that can be interpreted as a location. Allstate, Agency Gateway, and RMPs are not specific locations, but rather names of different entities or platforms. Therefore, Alliance is the most appropriate answer in this context.Rate this question:
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Quiz Review Timeline (Updated): Mar 21, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Jan 22, 2016Quiz Created by
Alison Anderson
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