Across
- 1. Pays extra if the insured dies due to an accident.
- 3. The process insurers use to evaluate risk and determine premiums.
- 4. A lower-than-average risk, usually with discounted premiums.
- 7. The person who owns and controls the life insurance policy.
- 11. A premium amount that can vary, often found in universal life policies.
- 12. Identifies who holds the rights to the policy and can make changes.
- 13. A financial or emotional relationship justifying life insurance coverage.
- 15. The total property and assets of a deceased person.
- 16. Flexible permanent insurance with adjustable premiums and benefits.
- 17. A higher-than-average risk, often with higher premiums.
- 22. The form used to apply for life insurance.
- 26. Extra time after a missed premium payment before a policy lapses.
- 28. The transfer of policy ownership or rights to another party.
- 30. Receives the death benefit if the primary beneficiary cannot.
- 34. A beneficiary who can be changed by the policyowner at any time.
- 36. The savings portion of a permanent life insurance policy.
- 39. The person whose life is covered under a life insurance policy.
- 42. A request for payment of the death benefit.
- 43. A legal arrangement to manage life insurance proceeds.
- 45. Pays a lump sum at maturity or upon the insured's death.
- 47. A policy that allows investment of cash value in separate accounts.
- 49. A policy that allows adjustments to coverage, premiums, or both.
- 50. A nonforfeiture option that uses cash value to buy term insurance.
- 52. States that the policy and application together form the full contract.
- 55. Allows the policyholder to buy more coverage without medical exams.
- 58. Time allowed for the policyowner to cancel the policy and receive a refund.
- 59. Pays part of the death benefit early if the insured is terminally ill.
- 60. Refunds premiums if the insured outlives the term.
- 62. A nonforfeiture option that provides lower coverage without further premiums.
- 63. A life insurance policy bought by and for one person.
- 64. The first in line to receive the policy's death benefit.
- 65. An application that does not require a physical exam.
Down
- 2. Insurance that covers the insured for a specific period or term.
- 4. Waives premiums if the payor (usually a parent) becomes disabled or dies.
- 5. Prevents the insurer from voiding the policy after a certain time.
- 6. The payment made to keep the insurance policy active.
- 8. Permanent insurance with fixed premiums and cash value accumulation.
- 9. Adjusts the death benefit if the insured’s age or gender was incorrect on the application.
- 10. A premium that remains the same throughout the life of the policy.
- 14. An average risk level with standard premium rates.
- 18. The categorization of applicants based on risk level.
- 19. Increases coverage to match inflation.
- 20. Suspends premium payments if the insured becomes disabled.
- 21. The frequency in which premiums are paid (monthly, quarterly, etc.).
- 23. Choices available if the policy lapses with cash value (e.g., paid-up).
- 24. Something of value exchanged between the policyowner and insurer.
- 25. Provides limited life insurance coverage for the insured’s children.
- 27. The amount of life insurance coverage provided by the policy.
- 29. The money paid out from a life insurance claim.
- 30. Term policy that can be changed into a permanent policy.
- 31. The amount paid to the beneficiary when the insured passes away.
- 32. A physical evaluation used in the underwriting process.
- 33. Initial screening done by the agent during application.
- 35. A loan taken from the cash value of a permanent life insurance policy.
- 37. Covers expenses for nursing homes or assisted living.
- 38. A beneficiary who cannot be changed without their consent.
- 40. States when and how premiums must be paid.
- 41. The amount the policyowner receives if they cancel the policy.
- 44. A contract that pays a benefit to beneficiaries upon the insured's death.
- 46. Coverage offered to members of a group, like employees.
- 48. A policy change that designates a new beneficiary.
- 51. The person or entity who receives the death benefit when the insured dies.
- 53. A fee for cancelling a policy before maturity or surrender period ends.
- 54. The process of reactivating a lapsed life insurance policy.
- 56. An added feature to a life insurance policy for extra coverage or benefits.
- 57. Term insurance that can be renewed without evidence of insurability.
- 61. The written legal contract between the insurer and the policyowner.