Social Security & Markets

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Across
  1. 2. These enrollees must provide evidence of insurability if they enter the group plan after the open enrollment period.
  2. 5. The acronym for the amount of monthly payment one receives once Social Security Benefits are activated and calculated by a formula into this amount.
  3. 6. This type of ownership occurs when the applicant purchases a policy on the insured who is not themselves
  4. 7. This type of plan is used when business partners purchase life insurance on one another so that in the event of one of their death the other business partner can purchase the shares of the deceased business partner.
  5. 9. These groups are formed for a purpose other than to purchase insurance.
  6. 10. The number of credits required to be considered eligible for the maximum amount of social security benefits.
  7. 13. the minimum number of credits to qualify for disability insurance
  8. 14. This is also is referred to as the minimum amount necessary to qualify for disability insurance.
  9. 16. This type of group plan requires that 100% of eligible participants must participate and all premiums are paid by the employer.
  10. 17. this is the number of credits a working individual receives for every year of work towards their social security
  11. 19. Each group policy participant receives this as their proof of being part of the plan.
  12. 20. Current full retirement age.
  13. 21. The surviving spouse may continue to receive benefits until the youngest child reaches this age.
Down
  1. 1. An individual who has succesfully received all of the credits necessary to receive the maximum amount of social security benefits.
  2. 3. This plan is used so that the business can purchase life insurance on the partners and buy back the shares from the deceased partners' estate or family.
  3. 4. This policy controls the group life insurance plan and must have the producers information and signature.
  4. 8. almost every group life insurance policy is written as this type of insurance.
  5. 11. The original name for social security
  6. 12. The number of years required to work in order to qualify for the maximum benefit amount for social security benefits.
  7. 14. This type of group plan requires that 75% of eligible participants must participate and some premiums are paid by the employer.
  8. 15. This type of policy is purchased in order to protect the company from loss of an employee that is integral to the business.
  9. 18. The minimum age at which someone could begin to receive social security benefits but would permanently reduce the benefits received.