Across
- 3. with term, this is the factor that converts annual premiums to smaller, more frequent payments
- 6. how much the insurance company charges for the cost of insurance and other related fees
- 7. the agreed amount the policy owner pays for the life insurance policy
- 8. age last birthday
- 10. How much the insurance agent gets paid – on a full pay policy, very close to the first year of premium paid
- 11. The individual who receives proceeds from a life insurance policy at the death of the insured
- 12. The return that some policyholders will receive as part of the distribution of a portion of an insurance company’s profits
- 13. An arrangement in which an insured pays a premium to an insurer and passes risk and obligations to said insurer
Down
- 1. the amount of money paid out at death
- 2. the difference between how much you pay in premiums versus how much the company charges gets placed into an interest-bearing account generating cash value
- 4. a life insurance policy that stays in force for a limited amount of time, then lapses
- 5. Someone who is at peak health – for example someone who runs every day, eats healthy, never sees the doctor
- 9. Early in the policy (about 10 to 20 years), companies will charge you for canceling the policy early