Life Insurance Terms

1234567891011121314
Across
  1. 2. a term policy that permits you to exchange the policy for a permanent plan
  2. 3. restoring a lapsed policy to its original premium paying status, upon payment by the policy owner
  3. 6. a period of time provided to an insured to examine the policy and if not satisfied, can cancel for a full refund
  4. 7. an endorsement to a policy that modifies clauses and provisions of the policy
  5. 9. a contract that provides a periodic income at regular intervals
  6. 10. the payment a policyowner agrees to make for an insurance policy
  7. 11. the person named in a policy to receive the insurance proceeds
  8. 12. the amount on the policy that will be paid in case of death
Down
  1. 1. policies based upon long-term estimates of expense, interest and mortality
  2. 4. policy owner can discontinue paying premiums on a policy with cash value. PO can take the cash value or use it to purchase extended term insurance or reduced paid-up insurance
  3. 5. A return of part of the premium on participating insurance to reflect the difference between the premium charged and the combination of actual mortality, expense and investment experience
  4. 8. give you the right to renew for another period when a term ends
  5. 13. pays in the event that death of the insured occurs by accident
  6. 14. provides protection for a specified period of time