Life Insurance Crossword V1

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Across
  1. 3. The party who is being insured
  2. 4. person to whom the proceeds of a life policy are payable when the insured dies
  3. 7. the person named to receive the proceeds, or any remaining part thereof, in the event the original beneficiary either does not survive the insured or does not live long enough after the death of the insured to receive all of said proceeds
  4. 8. Protection during limited number of years; expiring without value if the insured survives the stated period which may be one or more years usually is five to twenty years, because such periods usually cover the needs for temporary protection
  5. 10. Pays premium on policy
  6. 11. a person who applies for insurance by filling out and signing a written insurance application. The person who applies for the insurance may not always be the insured: e.g., parent is the applicant on a policy to insure a child. The party applying for an insurance policy
Down
  1. 1. the part of an insurance company the receives and makes settlement of claim losses
  2. 2. The purchaser of an insurance contract who has the legal title to the contract and is entitled to exercise all the rights under the policy
  3. 5. A period (normally two years) after a policy is issued during which the company has the right to cancel the policy because of the insurer’s material misrepresentation, fraud, etc
  4. 6. An entrustment in writing by which one person, as principal, appoints another as agent and converts upon them the authority to perform certain specified acts or kinds of acts on behalf of the principal
  5. 9. Strictly speaking, this adds something to a policy. However, the term is used loosely to refer to any supplemental agreement attached to and made a part of the policy, whether the policy’s conditions are expanded and additional coverages added, or a coverage or condition is waived