Across
- 1. policy is owned by someone other than the individual person (LLC, trust, corporation, etc)
- 3. the state that requires a spouse's signature
- 5. an interest in the continued life and good health of the proposed insured
- 6. the person in the Life Company who will review a deceased owner situation
- 10. cannot be listed as the policy owner on the application or a form, but may be listed in WMA in specific circumstances
- 11. when more than one person/entity retains ownership rights
- 13. the individual or entity to whom ownership transfers if the policy owner predeceases the insured
- 14. An agreement with one person who is the holder of the legal title to property subject to an equitable obligation to keep or use the property for the benefit of another person
- 18. the name and title of the authorized person must be included with this on the Change of Entity form
- 20. the "fourth in line" to become the policy owner
- 22. cannot enter into a legal contract
Down
- 2. the form sent by life specialists when joint ownership is requested
- 4. an uncommon scenario that involves a specific type of tax consequence for a life insurance policy, proceeds, or premiums
- 7. the only allowable party who can exercise benefits under a contract
- 8. section of the entity form that is always required and indicates which documents are included with the form
- 9. if this role is becoming the new policy owner, a contingent owner cannot be listed
- 12. signature method for 3/4 types of ownership change forms that can be utilized by the agent's office
- 15. task name created in Life Link to change the ownership
- 16. only exists when appointed by the court and must include court order to be listed as the owner
- 17. the amount of days the form should be dated within to be acceptable
- 19. the last revision month and year of the Change of Contingent Owner form
- 21. cannot be designated as the policy owner with their title; an alternative is the entity itself or an individual without the title