I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent Rachael Brennan

UPDATED: Nov 10, 2020

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How do you think your insurance IQ would fare against the ruler of the free world?

You might be surprised…

Test Your Life Insurance IQ

[HINT: Trump Would Score 6 Out of 10]

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Life Insurance IQ Quiz Answers

Trump’s Score: 6/10

You might assume Donald Trump would score 100% on this quiz since he has already stated he “understands everything” about insurance.

However, given his recent statements, we feel he would miss the questions in red below.

Here are the answers:

Which type of insurance costs less for a 20-year-old: term or obamacare?

A term life insurance policy.  You can view sample rates at any age here.

How long has Obamacare been in place?

7 years, although President Trump infamously said that Obamacare has “wreaked havoc on the lives of hard-working Americans” for 17 years.

Can You Buy Insurance on Anyone You Want?

No, there must be something called “insurable interest,” which means their death will affect you financially.

That means you may be able to buy life insurance on your spouse, parents, children, business partner, a key employee, as well as many others, but not on your neighbor, Joey, whose death wouldn’t impact your wallet.

Who pays more?  A person taking high blood pressure meds or someone who controls it on their own and takes them as needed?

Many companies actually don’t care if you take blood pressure medication as long as your BP is well controlled.

What they DON’T like is you taking your prescribed medication sporadically, as YOU see fit, instead of as recommended by your MD.  Visit our life insurance with pre-existing conditions page here.

RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance

How much more do you pay for life insurance if you have diabetes?

It’s roughly double that of a preferred health premium. Life insurance companies ARE allowed to discriminate/adjust their rates based on your health (for now, anyway.)  See our life insurance with diabetes guide.

Which tactic will help you save on estate taxes?

Using an irrevocable trust can help you get assets out of your name, so upon death, they won’t be valued as part of your estate.

Even if you do have an estate tax problem, you can buy life insurance to pay the tax bill, paying pennies on the dollar compared to having your estate foot the entire bill.

Under Obamacare, at what point are employers required to provide healthcare?

At 30 Hours.  Trump waivers on whether ALL his employees are covered under Obamacare or some of them.  It would seem Trump is either lying about the number of employees under Obamacare, or simply doesn’t know based on his statement here.

How are Life Insurance proceeds usually taxed?

They’re usually not taxed for federal income tax, but could be included in your taxable estate.  Be sure to speak to a knowledgeable agent about your estate and how to avoid taxation.

Employer-provided life insurance

These policies are almost NEVER portable.  That means if you leave your job, you’ll likely lose your life insurance.  Be sure you have a back-up plan!


We’re pretty sure Donald would miss this one since he misspelled it on Twitter.

In an interview with Time Magazine, he said:

“Because you are basically saying from the moment the insurance, you’re 21 years old, you start working and you’re paying $12 a year for insurance, and by the time you’re 70, you get a nice plan.”

It appears Mr. Trump may be confusing the cost of life insurance for a 21-year-old, with the cost of health insurance.

RELATED: Check Sample Life Insurance Rates by Age (No Personal Info Required)

Does President Trump know the difference between health and life insurance?  Mr. Trump has already infamously stated that it only took him a “short time to understand everything about healthcare.”

In February, President Trump infamously said, “Nobody knew that health care could be so complicated,” and we thought he wouldn’t possibly stick his foot in his mouth that far again.

But then he did!

According to President Trump in an interview with the Economist in May:

“Insurance is, you’re 20 years old, you just graduated from college, and you start paying $15 a month for the rest of your life and by the time you’re 70, and you really need it, you’re still paying the same amount and that’s really insurance.”

One possible explanation is Mr. Trump is not stating the cost of health insurance, but instead stating the ideal cost of health insurance.