Unit 10 Vocabulary

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Across
  1. 2. is insurance against the risk of individuals and families incurring medical expenses.
  2. 3. insures the value of human life against the loss by death, injury, illness, or against expenses incidental to the latter, such as loss of income
  3. 7. insures the value of items, such as homes, cars, furniture, art, and buildings, against the loss by riot, explosion, violence, hurricane, smoke, hail, aircraft, windstorm, fire, theft, flood, and earthquake.
  4. 9. refers to the loss of physical property – home, contents, car, ancillary structures, landscaping, and even food in the freezer and refrigerator.
  5. 11. are insurance personnel who consider each applicant for insurance and decide if they fall within acceptable parameters for coverage.
Down
  1. 1. provides an economic benefit to a beneficiary in the event of death
  2. 4. are a distribution of the company’s profits and are considered a return of premium. Therefore, the dividends are not taxed.
  3. 5. is the amount the insured must pay from a loss before the insurance company begins to pay a claim.
  4. 6. is policy reserves accumulated in an insurance policy and available to the policyholder to provide a “living benefit.”
  5. 8. are the payments made to keep the policies in force. They are paid monthly, quarterly, semi-annually, annually, or as a one-time, single premium.
  6. 10. are paid to purchase insurance.