Across
- 4. type of insurance that compensates beneficiaries upon the death of the policyholder.
- 5. provides coverage for the policyholder's entire life or until they reach 100 years old it acts both as protection and savings mechanisms since a portion of the premium is allocated to build up cash values.
Down
- 1. a contract (in the form of a policy) between the policyholder and the insurance company, whereby the company agrees to compensate for any financial loss from specific insured events.
- 2. a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions
- 3. It is the simplest form of life insurance to obtain, of which upon death, the beneficiaries are paid with the benefit.