Allstate Life Insurance Company! Trivia Questions Quiz

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| By Alison Anderson
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Alison Anderson
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Quizzes Created: 16 | Total Attempts: 2,474
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1. Using Advisys Backroom Technicians Life Needs Analysis which of the following expenses are most important to consider?

Explanation

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.

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About This Quiz
Allstate Life Insurance Company! Trivia Questions Quiz - Quiz

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... see morein insurance policy details and underwriting processes. see less

2. Which of the following would be an example of a Life Event?

Explanation

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.

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3. When is the best time to ask our clients about Life Insurance?

Explanation

The best time to ask our clients about Life Insurance is today. This suggests that it is important to initiate the conversation about Life Insurance as soon as possible, rather than waiting for the client to bring it up or for us to have complete knowledge about life insurance. By asking today, we can start the discussion and provide necessary information to the client, helping them make informed decisions regarding Life Insurance.

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4. What is the best way to find people to sell life insurance to?

Explanation

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.

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5. Who is responsible to sell Life Insurance in your agency?

Explanation

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.

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6. When we ask people if they have changed jobs in the last 5 years we are trying to establish?

Explanation

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.

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7. Why would you sell life insurance for a juvenile?

Explanation

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.

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8. The Green Sheets will increase my AF sales by....

Explanation

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.

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9. Where is App On-Line located?

Explanation

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.

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10. How many Basic Term policies are allowed per customer?

Explanation

Each customer is allowed to have only one Basic Term policy.

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11. What are the three databases used when underwriting a Basic Term application?

Explanation

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.

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12. Which of the following is true about a counter offer for Basic Term?

Explanation

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.

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13. The conversion privilege on a Truefit policy is available for how long?

Explanation

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.

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14. Which of the following is true about Allstate's Truefit Life Insurance?

Explanation

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.

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15. How many Primary Term layers are allowed on a True Term Policy?

Explanation

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.

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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.

Explanation

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.

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17. How does the client qualify for Allstate Basic Term?

Explanation

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.

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18. What riders are available on Basic Term?

Explanation

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.

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19. Which of the following is not true about Truefit?

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.

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20. Where is life Quote Online located?

Explanation

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.

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Using Advisys Backroom Technicians Life Needs Analysis which of the...
Which of the following would be an example of a Life Event?
When is the best time to ask our clients about Life Insurance?
What is the best way to find people to sell life insurance to?
Who is responsible to sell Life Insurance in your agency?
When we ask people if they have changed jobs in the last 5 years we...
Why would you sell life insurance for a juvenile?
The Green Sheets will increase my AF sales by....
Where is App On-Line located?
How many Basic Term policies are allowed per customer?
What are the three databases used when underwriting a Basic Term...
Which of the following is true about a counter offer for Basic Term?
The conversion privilege on a Truefit policy is available for how...
Which of the following is true about Allstate's Truefit...
How many Primary Term layers are allowed on a True Term Policy?
If you are looking for simple affordable protection that gives you the...
How does the client qualify for Allstate Basic Term?
What riders are available on Basic Term?
Which of the following is not true about Truefit?
Where is life Quote Online located?
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