Know life insurance? Quiz yourself
By Allen Wastler
Allen Wastler is a former financial journalist with over 30-years of experience, including time at CNBC, CNN, and Knight-Ridder Newspapers.
Posted on Sep 2, 2020
Did you know September is Life Insurance Awareness Month?
And in its honor, we have this little quiz (answers at bottom) …
The world’s largest life insurance policy, $201 million according to Guinness World Records, is for a …
A. European banking official in Switzerland
B. Silicon Valley billionaire
Walt Disney used his life insurance policy to help secure funding to build Disneyland…
The cost of a 20-year, $250,000 term life insurance policy for a healthy, non-smoking 30-year-old may be …
A. More than $500 a year
B. Less than $200 a year
Before their mission, the Apollo 11 astronauts set up a cache of autographs to sell because they could not get life insurance….
Who developed the first life mortality table?
A. Isaac Newton (the gravity guy)
B. Edmond Halley (the comet guy)
Answers: B2, A3, B4, A5, B6
2 Guinness World Records, “Mystery Billionaire takes out historic life insurance policy,” March 13, 2014. http://www.guinnessworldrecords.com/news/2014/3/mystery-billionaire-takes-out-historic-%24201-million-life-insurance-policy-56096
3 Huffington Post, “How Walt Disney Funded his Dream,” Dec. 19, 2017 https://www.huffingtonpost.com/entry/how-walt-disney-funded-his-dream_us_5a38ebc1e4b0578d1beb72a1
4 Life Happens/LIMRA, “2017 Insurance Barometer,” 2017. (Actual cost: $160)
5 NPR, “What the Apollo Astronauts Did for Life Insurance,” Aug. 30, 2012, https://www.npr.org/sections/money/2012/08/30/160267398/what-the-apollo-astronauts-did-for-life-insurance
6 Journal of the British Astronomical Association, “Edmond Halley, Scientist,” August, 1985. http://articles.adsabs.harvard.edu/cgi-bin/nph-iarticle_query?1985JBAA...95..193H&data_type=PDF_HIGH&whole_paper=YES&type=PRINTER&filetype=.pdf
Provided by Lenox Advisors courtesy of Massachusetts Mutual Life Insurance Company (MassMutual)
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