Across
- 3. statements believed to be true to the best of one's knowledge, but they are not guaranteed to be true
- 5. the premium paid by the insured is small in relation to the amount that will be paid by the insurer in the event of loss
- 6. an applicant submits an application
- 7. a law that consumer-reporting agencies must follow
- 8. insurance contracts are offered on a take-it-or-leave-it basis by an insurer
- 10. nonprofit organization by insurance companies that receive and maintain confidential medical information
- 11. requires the consumer to be advised in writing within 3 days of the date the report was requested
- 14. both parties be of legal age, mentally capable to understand the contract, and not under the influence of drugs or alcohol.
- 17. written/oral information regarding a consumer's credit, character, reputation, or habits collected by a reporting agency
- 19. the insured makes no legally binding promises, but an insurer is legally bound to pay losses covered by a policy in force
Down
- 1. given to applicant after initial premium for a health insurance policy; sent to the insurer with the application for approval
- 2. something of value that each party gives to the other.
- 4. a document sent from an underwriter to an applicant's doctor for accurate information on the applicant's medical history
- 5. an insurer's underwriting approves the application and issues a policy
- 9. proven by love and affection, economic or financial loss
- 12. this period begins as soon as a policy is delivered
- 13. an essential element required for a legally binding insurance contract that involves offer and acceptance.
- 15. the insured must pay the premium and provide proof of loss in order for the insurer to cover a claim
- 16. requires insurable interest and consent
- 18. an absolutely true statement upon which the validity of the insurance policy depends