Concepts of Life Insurance

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Across
  1. 5. A _______ is the person chosen by the policyholder who will recieve the death benefit.
  2. 6. Extended time provided to pay premium even after premium due date.
  3. 9. The ______ is paid to the nominees if the policyholder passes away in an accident.
  4. 11. The process by which a life insurance company decides to take the risk.
  5. 12. This is the period for which the life insurance is active or valid.
  6. 13. The ______ is the person who is covered under the insurance policy.
  7. 14. What is the owner of the policy also know as ?
Down
  1. 1. The amount a life insurance company pays when the policy is terminated.
  2. 2. Another term for Death Benefit.
  3. 3. A contract that provides a periodic income at regular intervals, usually for life.
  4. 4. A life insurance policy in which the company does not distribute to policyowners any part of its surplus.
  5. 7. What are optional add on features that enhance the life insurance policy?
  6. 8. _____ period is the time during which you may decide to return the policy that you have purchased.
  7. 10. Each policy offers the policyholder/life guarantee a specified level of protection.