Across
- 4. / A process by which a mutual insurer becomes a stock company.
- 8. / Policies that may pay annual dividends to policyowners.
- 10. / Risk involving a possibility of loss or no loss. (Insurance protect against pure risk).
- 12. / The designated recipient or benefits or proceeds upon the death of the insured.
- 13. / The individual who had the ownership right in a policy.
- 15. / Possessing a license solely to write business on one's own self, immediately family, relatives, employer, and employees
- 17. / The process of analyzing exposures that creates risk and designing programs to minimizing the possibility of a loss.
- 18. / A time periods after the premium due date and before a policy lapses.
- 19. / Something of value (Usually a premium) that the policy must pay in exchange for the insurer's promise to pay.
- 20. / The date when insurance coverage begins.
- 21. / The death benefit payable on a life policy; may also be called the limit of liability.
- 24. / Time, set by an employer, before an employee is eligible to enroll for group benefits.
- 27. / The individual's actual or closest age on the policy issue date.
- 28. / The tendency for more bad risks than good risked to purchase and maintain insurance.
- 31. / Termination of a policy because the premium has not been paid by the end of the grace periods.
- 32. / An agent or broker who handles the insurer's funds in a trust capacity.
- 33. / A civil wrong other than a crime or a breach of contract.
- 34. / The maturity date or time at which a life insurance product's cash value equals the face amount.
- 36. / A person's age at any given point or time.
- 37. / An endorsement to an insurance policy that modifies the contract's provisions(Life/health uses rider) (Property & Casualty uses Endorsement.
- 38. / Failing to obtain the proper type or amount of coverage for a client.
Down
- 1. / A specific period of time.
- 2. / A person trained in the technical aspect of the insurance and related fields, particularly in mathematics and probabilities.
- 3. The process of evaluating a risk to issue insurance coverage.
- 5. / A document that provides information for underwriting purposes.
- 6. / The ability of an individual to meet an insurer's underwriting requirements.
- 7. / Insurance policies that do not pay dividends to policyowners.
- 9. / A person making the application for himself/herself or another to be insured under an insurance contract.
- 10. / Time interval when the policy is in force.
- 11. / There is a chance of loss or gain.
- 14. / Transfer of coverage from one contact to another.
- 16. / An agreement that requires a deceased;s estate to sell the deceased's interest back to a business entity for a predetermined price (ex: cross purchase/entity plans).
- 22. / Money accumulated in a permanent policy which the policy loan or receive it. The policy is surrendered before maturity (May be considered as supplemental income).
- 23. that increases in coverage without an increase in premium.
- 25. / Keeps a policy in force when in a lapsed mode.
- 26. / A payment or periodic payment made by the policyowner to keep an insurance policy in effect; earned premium is the portion of a premium for which protection had already been given.
- 29. / A contract that pays a stated amount in the event of a loss. To be valid; it must contain: offer. acceptance. consideration, competent parties, and legal purpose (Life or disability Insurance).
- 30. / Quoting price information or misrepresenting a plan of coverage without regards to the effect that the information might have on the client at a later date.
- 35. / Specific cause of loss.