Basic Insurance Terms

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Across
  1. 3. The amount of money the insured person must pay before their insurance starts paying for the covered expenses.
  2. 6. The person or entity that owns and is covered by insurance
  3. 7. Specifies what the basics insurance does not cover.
  4. 8. Science: It applies math and statistics to analyze and manage financial risk
Down
  1. 1. The process used to determine whether someone is eligible to receive insurance
  2. 2. Fraud: A deception to the insurance company to get financial gains or avoid financial obligations
  3. 4. Limit: The maximum amount an insurance company will pay out
  4. 5. & process: A request by a policyholder to an insurance company for compensation for a covered loss or policy event.
  5. 6. The amount of money paid by someone to an insurance company in exchange for insurance coverage.