Across
- 1. a formal request to an insurance company asking for a payment when the policyholder has an accident, illness or injury
- 2. Limit The $ amount of expenses the insurance company will pay in total.
- 4. A financial product purchased by many people facing a similar risk to protect against the risk of larger losses
- 5. The out-of-pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss
- 7. A written contract between the insured (person) and the insurer (insurance company)
- 8. Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid (ex. 80%-20%)
Down
- 1. The risks covered and amount of money paid for losses under an insurance policy
- 3. A career that uses statistics to find how likely a client will need to use the insurance so they can set premiums in order to have the highest chance of making a profit
- 6. Chance of loss from an event that cannot be entirely controlled
- 7. The amount of money that has to be paid for an insurance policy. You pay this no matter if an incident happens or not.