Across
- 6. the party in an insurance contract that promises to pay compensation
- 7. the amount of money that the insured person must pay before their insurance policy starts paying for covered expenses.
- 8. life insurance that is a type of permanent life insurance. With a universal life policy, the insured person is covered for the duration of their life as long as they pay premiums and fulfill any other requirements of their policy to maintain coverage.
- 10. In simple terms, a copayment, or copay, is a fixed amount that you pay out of pocket for covered healthcare services.
- 12. transfer (all or part of a risk) to another insurer to provide protection against the risk of the first insurance
- 13. An insurance claim is a request for your insurance company to pay for something your insurance covers, such as a car accident, or a house fire
Down
- 1. The spreading of financial risk evenly among many contributors to the program
- 2. An agreement where you make regular payments to a company and the company promises to pay you money if you suffer a specified injury, illness, loss, etc.
- 3. insurance that provides a death benefit that pays the beneficiaries of the policyholder throughout a specified period.
- 4. life insurance that is permanent life insurance that pays a benefit upon the death of the insured and is characterized by level premiums and a savings.
- 5. an insured individual's share of the costs of a covered expense
- 9. a person or organization covered by insurance
- 11. An insurance premium is the price you pay for a policy.