Across
- 2. A person designated to receive something such as life insurance proceeds, from the insured.
- 6. A contract that provides a regular income for as long as the person lives.
- 7. An insurance plan in which the policyholder pays a specified premium each year for as long as he or she lives; also called a "straight life policy," a "cash-value policy," or an "ordinary life policy."
- 9. insurance that provides policy dividends; also called a "par policy."
- 10. A document attached to a policy that modifies its coverage.
- 11. Life insurance protection for a specified period of time; sometimes called "temporary life insurance."
- 12. The amount received after giving up a life insurance policy.
Down
- 1. A benefit under which the company pays twice the face value of the policy if the insured's death results from an accident.
- 3. A provision that allows the insured not to forfeit all accrued benefits if a policy is dropped.
- 4. A whole life policy that combines term insurance and investment elements.
- 5. Life insurance that does not provide policy dividends; also called a "nonpar policy."
- 8. A method of evaluating the cost of life insurance by taking into account the time value of money.