Life and Health Insurance

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Across
  1. 2. A cost-sharing arrangement between an insure & insured in which each pays a % of covered expenses.
  2. 5. An excessive amount of insurance that would result in overpayment to the insured in the event of a loss.
  3. 10. An absolutely true statement that, if breached, may void an insurance contract.
  4. 11. A clause that stipulates the rights & obligations under an insurance contract.
  5. 13. The person entitled to exercise the rights & privileges in the policy.
  6. 15. Coverage for a specified period of time without cash values or living benefits.
  7. 17. An insurer's ability to meet its financial obligations to policyowners, insureds, & beneficiaries.
  8. 18. The amount of benefit stated in the life insurance policy.
  9. 21. any fraudulent, deceptive, or dishonest business practice that is prohibited by statutes & regulations
  10. 23. A producer who handles insurers funds in a trust capacity.
  11. 24. Insurance in which policyowners share in profits or losses & receive dividends when available
  12. 27. Choices available to the policyowner regarding distribution of policy dividends.
  13. 29. Methods of distribution of guaranteed values in a life insurance policy.
  14. 30. A clause that stipulates the rights & obligations under an insurance contract.
  15. 32. Revealed information to help someone make an informed decision.
  16. 33. A written modification attached to a policy that increases or decreases coverage & premiums
  17. 34. An insurance arrangement in which the policyowner & the insured are not the same person
  18. 35. Health insurance that provides 1st-dollar coverage for medical, surgical, & hospital services, & features low coverage limits & limited benefit periods.
  19. 37. A retirement plan that meets the IRS guidelines for receiving favorable tax treatment.
  20. 38. An insurance product that provides income for a specified period or for the life of the annuitant, & is used to liquidate an estate.
  21. 40. Health insurance that provides coverage for catastrophic losses, & features deductible & coinsurance, & high limits of coverage
  22. 43. An insurance plan in which benefits are provided to subscribers in the form of services instead of monetary benefits.
  23. 45. Termination of a policy by an insurer on the anniversary or renewal date.
  24. 46. A natural person or whom an annuity is written & who receives annuity payments.
  25. 47. The person covered by the insurance policy
  26. 48. A insurance agent who conducts initial policy solicitation & application (the company's front life of underwriting)
  27. 49. A waiting period imposed on the insured from the onset of disability unit benefit payments begin.
Down
  1. 1. An insurance policy which pays 1st the full benefit as specified before the insured may submit a claim to a secondary or excess plan.
  2. 3. A tendency of risks with higher probability of loss to purchase & maintain insurance more often than the risks who present lower probability of loss.
  3. 4. The company that issues an insurance policy
  4. 6. A contract prepared by one party that must be accepted as written or rejected by the other party
  5. 7. A contract in which only one of the parties is legally bound to fulfill its obligations
  6. 8. A person who receives the death benefit from a life insurance policy after the insured's death.
  7. 9. An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer.
  8. 12. Coverage that provides periodic payments to replace an insured's income when the insured is disabled from an illness or injury.
  9. 14. A document issued to insureds under a group plan that states that coverage has been issued, & indicates coverage type & amounts.
  10. 16. A statement made by the applicant on the insurance application that is believed to be true.
  11. 19. A beneficiary who has the 1st claim to the policy proceeds after the death of the insured.
  12. 20. Methods used to pay the death benefits to a beneficiary upon the insured's death
  13. 22. Factors that determine if an insurance product is appropriate for a particular customer.
  14. 25. A payout method that pays the beneficiary the entire benefit in one payment.
  15. 26. A specific amount of covered expenses that the insured must pay before any costs will be paid by the health plan.
  16. 28. Health & social services provided for individuals with chronic diseases for disabilities who require living assistance at home or in a nursing home facility.
  17. 31. A payment by the policyowner to the insurance company to keep a policy in force.
  18. 36. The withholding of known facts that, if material, can void a contract.
  19. 39. A policy that provides a benefit based only on the number of days confined in a hospital, regardless of medical expenses incurred.
  20. 41. A financial interest in the life of another person, & a possibility of losing something of value if the insured dies.
  21. 42. Policy from one person to another.
  22. 44. An HMO model that uses the insured's primary care physician as the initial contract for the insured for medical care & for referrals.