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7. policy that pays dividends.
10. _ _ _ _ is one of the divided option
12. policy is a policy where proceeds are paid to a beneficiary over some fixed period of time until exhausted.
13. is a liability item on the insurer’s balance sheet that must be offset by sufficient financial assets.
16. Dividend is used to purchase _ _ _ _ insurance
17. are typical life insurance policy exclusions.
18. is the party named in the policy to receive the policy proceeds.

1. options is apolicy proceeds to be used to buy a life annuity that guarantees the annuitant an income for life, when insured dies.
2. provision permits the owner to reinstate a lapsed policy
3. nonforfeiture value is also known as …………. Value
4. clause states that if the insured commits suicide within stipulated few years or generally two years after the policy is issued, the face amount of insurance will not be paid.
5. Dividend payment cannot be
6. insurance (also called a first-to-die policy) is a policy written on the lives of two or more people and is payable at the time of the death of the first person to die.
8. policy that pays dividends.
9. Payment to a withdrawing policyholder is known as a
11. provision allows policyowners to exchange their present policies for different contracts.
14. Period is the provision where the policyholder has a period of 31 days to pay an overdue premium.
15. is a settlement option where proceeds can be paid in a lump sum to a designated beneficiary or beneficiaries