All About Life Insurance!!

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Across
  1. 2. A Whole Life Pay to 65 policy is considered a _____ ___ whole life policy
  2. 4. Waiver of Premium for _____ benefit provides that the company will waive the premiums on a life insurance policy if the Insured becomes totally disabled
  3. 5. A cash value policy has a _____ provision available; this provision allows the Policy Owner to access the policy values by using the value of the policy as collateral
  4. 8. ______ Death Benefit (ADB) provides an additional death benefit payable if the Insured dies as a result of an accident
  5. 11. The privilege that allows a Policy Owner to purchase a cash value life insurance policy without evidence of insurability
  6. 13. Once a policy lapses, a Policy Owner can apply for ______ by completing an application and prove insurability
  7. 14. Provides life insurance coverage for the Insured’s entire lifetime
  8. 19. Guaranteed ______ Benefit (GIB) provides an opportunity for an Insured to purchase additional insurance at specific ages/events without proving insurability
  9. 21. _______ Death Benefit (ACDB) is a benefit/rider that provides the opportunity for an advance payment of death benefit proceeds if the Insured has 24 months or less to live
  10. 22. An amount to be paid for an insurance policy
  11. 23. A 31-day _____ _____ is provided after the premium due date to allow a Policy Owner to make payment without a lapse in coverage
  12. 24. Covers the Insured for a specified period of time
Down
  1. 1. A provision that provides for a Policy Owner to review and cancel their policy for a full refund
  2. 3. ______ ______ is required at the time a policy is purchased
  3. 6. Higher likelihood of individuals in poor health to seek insurance at a greater degree
  4. 7. The cash value of a life insurance policy is typically less in the early years because a ______ _____ is assessed to account for the Insurers incurred expenses
  5. 9. On a life insurance policy, ______ are an excess of an Insurer’s surplus that is payable on all participating policies
  6. 10. A cash value product that is characterized by flexible premiums, flexible face value amount and flexible death benefit
  7. 12. Reduced Paid Up Insurance, Extended Term Insurance and Automatic Premium Loan are all examples of ___-_______ options
  8. 15. An assignment that transfers SOME rights of a policy to another individual/entity is considered a ________ Assignment
  9. 16. The individual second in line to receive death benefit proceeds is referred to as the _______ beneficiary
  10. 17. Insured age as of nearest birthday
  11. 18. A _____ misrepresentation is false or misleading information that may have impacted an Insurers underwriting decision if the information provided had been accurate
  12. 20. An exclusion that states if the Insured dies from _____ within 2 years of policy issue, the company is not required to pay a death benefit