Policy Terminations

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Across
  1. 1. An alternative to surrendering if the premium is too high
  2. 5. A provision included in every life insurance contract that provides the Policy Owner the ability to surrender their policy at any time
  3. 8. A reason that would allow us to proceed with the request to surrender without sending conservation
  4. 14. To process a 1035 Exchange prior to the end of the 10-day conservation period, the _______ must contact American Family Life Insurance Company
  5. 16. This is the only termination request that can be processed without the Policy Owner signature
  6. 20. This additional form is required for resident states of Indiana, Iowa, Massachusetts or North Carolina
  7. 22. To qualify for a 1035 Exchange, the Insured/Owner on the new policy and the current policy must be _____
  8. 24. When an external 1035 Exchange is processed, the check is made payable to the ________ _______
  9. 25. A tax-free exchange of one policy/contract for a new policy/contract
Down
  1. 2. A/An _______ assignment form is required to proceed with a 1035 Exchange request
  2. 3. A request to cancel/discontinue a policy in which the net cash value is paid to the Policy Owner
  3. 4. This form is required if the Policy Surrender in Full form is signed via DocuSign
  4. 6. Once a policy is surrendered, it cannot be __________
  5. 7. The plan code that cannot be surrendered as it is not a policy, rather a child rider certificate
  6. 9. A 10-day period of time provided for our Agent to attempt to save the policy
  7. 10. A ____ life policy will only qualify for a 1035 Exchange if going to a _____ life *no space between answers*
  8. 11. If received more than 60-days from policy issue, a request for a Not Taken must be reviewed and approved by a ________
  9. 12. A Not Taken will cancel the policy as of the ________ date
  10. 13. Section of the Policy Surrender in Full form that is not required for term policies
  11. 15. One of four states that do not allow a request for termination to be signed via DocuSign
  12. 17. One of four states that do not allow a request for termination to be signed via DocuSign
  13. 18. A Policy Surrender in Full can be accepted up to _____ days from signature date
  14. 19. A(n) ______ 1035 Exchange involves two American Family Life policies
  15. 21. A surrender/1035 Exchange request cannot be accepted if the signature date is a _____ date
  16. 22. Our contract requires a thirty day free-look period; however, if received within ______ a request to cancel will be processed as a Not Taken
  17. 23. A type of life insurance policy that does not qualify for a 1035 Exchange
  18. 25. The percentage of premium that will be returned to the Policy Owner when a Not Taken is requested
  19. 26. When a 1035 Exchange is processed, the _____ _______ is transferred from the old policy to the new policy