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2. A type of life insurance policy taken out by a company on the lives of employees whom the company considers to be of vital importance to its operations.
4. The condition of the price of a bond that is lower than par.
5. The act of dying without a legal will. Determining the distribution of the deceased's assets then becomes the responsibility of a probate court.
6. A person who inherits some or all of the estate of a recently deceased person.
7. A person or entity named in a will or a financial contract as the inheritor of property when the property owner dies.
10. A provision of an insurance policy that is purchased separately from the basic policy and that provides additional benefits at additional cost.
11. A distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.

1. A legally enforceable declaration of how a person wishes his or her property to be distributed after death.
2. The right that a beneficiary has to exchange one type of income for another.
3. The location where an individual, partnership, or corporation establishes permanent residence as per legal obligations
8. A person whose Life Expectancy is used for annuity policy payouts.
9. A period where a new insurance policy owner is able to terminate the contract without penalties such as surrender charges.