Life Insurance Terminology

2. This type of rating is due to complicated health history or if there have been recent health issues
5. Allows a term life insurance policy to be converted to a whole life policy of equal or lesser value
8. A person who is listed on a life insurance policy who will become the policy owner if the current owner passes away
10. Writing business through another insurance company when Country declines coverage
13. The status if the underwriting for the case is not complete within the 90 day time frame that is set
16. A requirement that the UW Support team processes that is gathering information to send to another insurer to see if they would be willing to share the risk of a client
17. The best class of life insurance that gives the client the lowest rate
19. The insured is covered by the life insurance policy if anything were to happen to them during the underwriting process
20. The amount of premium that a life insurance policy is applied for is broken up into different ranges of premium

1. Provides the client with a visual prediction of how the policy is going to preform over time
3. The beneficiary named on the policy must be someone who is affected financially from the death of the insured
4. Allows for the purchase of additional coverage for the insured periodically during the life of the policy
6. A requirement that is ordered on all nonSUW cases completed by Examone
7. The person or entity that controls all of the rights and benefits on a policy
9. Occurs when a new policy is purchased and is replacing a policy the insured currently has
10. The person or entity the owner of the policy names to receive the monetary amount of the policy upon the death of the insured
11. A request for medical records, sent to a medical facility by PDC on behalf of Country
12. The third best rate for life insurance
14. The person who pays the premium on the policy
15. The person who is applying for the life insurance
18. The second best rate for life insurance