Across
- 2. A cost-sharing arrangement between an insure & insured in which each pays a % of covered expenses.
- 5. An excessive amount of insurance that would result in overpayment to the insured in the event of a loss.
- 10. An absolutely true statement that, if breached, may void an insurance contract.
- 11. A clause that stipulates the rights & obligations under an insurance contract.
- 13. The person entitled to exercise the rights & privileges in the policy.
- 15. Coverage for a specified period of time without cash values or living benefits.
- 17. An insurer's ability to meet its financial obligations to policyowners, insureds, & beneficiaries.
- 18. The amount of benefit stated in the life insurance policy.
- 21. any fraudulent, deceptive, or dishonest business practice that is prohibited by statutes & regulations
- 23. A producer who handles insurers funds in a trust capacity.
- 24. Insurance in which policyowners share in profits or losses & receive dividends when available
- 27. Choices available to the policyowner regarding distribution of policy dividends.
- 29. Methods of distribution of guaranteed values in a life insurance policy.
- 30. A clause that stipulates the rights & obligations under an insurance contract.
- 32. Revealed information to help someone make an informed decision.
- 33. A written modification attached to a policy that increases or decreases coverage & premiums
- 34. An insurance arrangement in which the policyowner & the insured are not the same person
- 35. Health insurance that provides 1st-dollar coverage for medical, surgical, & hospital services, & features low coverage limits & limited benefit periods.
- 37. A retirement plan that meets the IRS guidelines for receiving favorable tax treatment.
- 38. An insurance product that provides income for a specified period or for the life of the annuitant, & is used to liquidate an estate.
- 40. Health insurance that provides coverage for catastrophic losses, & features deductible & coinsurance, & high limits of coverage
- 43. An insurance plan in which benefits are provided to subscribers in the form of services instead of monetary benefits.
- 45. Termination of a policy by an insurer on the anniversary or renewal date.
- 46. A natural person or whom an annuity is written & who receives annuity payments.
- 47. The person covered by the insurance policy
- 48. A insurance agent who conducts initial policy solicitation & application (the company's front life of underwriting)
- 49. A waiting period imposed on the insured from the onset of disability unit benefit payments begin.
Down
- 1. An insurance policy which pays 1st the full benefit as specified before the insured may submit a claim to a secondary or excess plan.
- 3. A tendency of risks with higher probability of loss to purchase & maintain insurance more often than the risks who present lower probability of loss.
- 4. The company that issues an insurance policy
- 6. A contract prepared by one party that must be accepted as written or rejected by the other party
- 7. A contract in which only one of the parties is legally bound to fulfill its obligations
- 8. A person who receives the death benefit from a life insurance policy after the insured's death.
- 9. An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer.
- 12. Coverage that provides periodic payments to replace an insured's income when the insured is disabled from an illness or injury.
- 14. A document issued to insureds under a group plan that states that coverage has been issued, & indicates coverage type & amounts.
- 16. A statement made by the applicant on the insurance application that is believed to be true.
- 19. A beneficiary who has the 1st claim to the policy proceeds after the death of the insured.
- 20. Methods used to pay the death benefits to a beneficiary upon the insured's death
- 22. Factors that determine if an insurance product is appropriate for a particular customer.
- 25. A payout method that pays the beneficiary the entire benefit in one payment.
- 26. A specific amount of covered expenses that the insured must pay before any costs will be paid by the health plan.
- 28. Health & social services provided for individuals with chronic diseases for disabilities who require living assistance at home or in a nursing home facility.
- 31. A payment by the policyowner to the insurance company to keep a policy in force.
- 36. The withholding of known facts that, if material, can void a contract.
- 39. A policy that provides a benefit based only on the number of days confined in a hospital, regardless of medical expenses incurred.
- 41. A financial interest in the life of another person, & a possibility of losing something of value if the insured dies.
- 42. Policy from one person to another.
- 44. An HMO model that uses the insured's primary care physician as the initial contract for the insured for medical care & for referrals.