Insurance

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Across
  1. 2. A type of managed care health insurance in which use of in-network doctors, hospitals, etc. is less expensive, but out-of-network providers are partially covered as well, usually with co-insurance.
  2. 4. A form of insurance that can cover damage to vehicles and injuries related to car accidents
  3. 6. The person designated to receive the death benefit of a life insurance policy
  4. 9. Protects an individual's house against damages to the building itself, or to possessions in the home. It also provides liability coverage against accidents on the property.
  5. 12. A formal request to an insurance company asking for a payment based on the terms of the insurance policy
  6. 15. Type of auto insurance that pays for damage to your vehicle caused by an event other than a collision, such as fire, theft or vandalism
  7. 16. A guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium. The purpose is to reduce financial risk.
  8. 19. The condition of having insurance that is inadequate
  9. 21. The possibility of loss or injury
  10. 22. Type of auto insurance that pays for repairs from a car accident up to the value of the vehicle
  11. 24. The length of time during which a benefit is paid, such as Medicare or disability insurance
  12. 26. A fixed amount of money that an insured person pays at the time of service for a covered healthcare expense. The insurance company usually covers the rest of the bill.
  13. 28. Insurance that pays a benefit on the death of the insured and can also accumulates a cash value with a rate of interest
  14. 29. The condition of being financially protected against the risk of a specific loss.
  15. 30. Insurance that pays a benefit if the insured person dies within a specified time period.
  16. 34. Policy that covers possessions in an apartment or rented home, as well as liability for accidents
  17. 35. Health insurance that does not use a network of healthcare suppliers
  18. 36. Policy that helps provide for the cost of extended in-home or nursing care beyond a predetermined period.
  19. 37. The amount that a life insurance policy pays the beneficiary when the insured person dies (also called “death benefit”)
Down
  1. 1. Offers income protection to individuals if they develop a long-term condition that makes them unable to work. Can be through Social Security and/or a private insurance company
  2. 3. Insurance policy that can pay a death benefit or be surrendered for money. A portion of the premiums is invested, which has greater risk than a whole life policy, but also has the potential for greater returns.
  3. 5. Any payment from an insurance company to a beneficiary of a policy
  4. 7. Money paid in order to have insurance
  5. 8. A specified amount of money that the insured must pay before an insurance company will pay a claim. Can be annual or per-incident
  6. 10. A strategy to reduce insurance premiums by finding the best deal among many companies and plans
  7. 11. The condition of having insurance beyond what is needed
  8. 13. A government program that provides cash benefits to eligible workers who have lost their jobs
  9. 14. A person who relies on another, especially a family member, for financial support.
  10. 17. A type of managed care health insurance that typically requires the use of in-network doctors, hospitals, etc. Out-of network providers are not covered.
  11. 18. Category of health insurance plans that uses a network of healthcare providers. This includes HMO’s and PPO’s
  12. 20. Type of auto insurance that people purchase to cover the cost of repairs and injuries in an accident that they have caused. This does not cover the person’s own car or medical bills.
  13. 23. A policy that covers the insured's property in any location, and regardless of where the insured is at the time of loss. Can be added to a homeowner’s insurance policy.
  14. 25. A policy that protects lenders against losses that result from defaults on home mortgages. Often required for home purchases with a down payment of less than 20%.
  15. 27. Type of auto insurance that covers the cost of an accident regardless of who caused it.
  16. 31. A feature of some health insurance plans that means the insured person has to pay a specific amount of money on healthcare each year before the insurance company will pay anything
  17. 32. Money that accrues over time with a whole life insurance policy. It is less than the death benefit, and can be withdrawn if the policy is surrendered.
  18. 33. The amount that a life insurance policy pays the beneficiary when the insured person dies (also called “Face Value”)