Across
- 3. This provisions states all amounts payable shall be adjusted to the amount the premium paid would have purchased at the correct age. The insurer will adjust benefits to increase of insured is younger than stated in the application or reduce benefits if the insured is older than stated in the application.
- 6. This provisions states if a premium is due at the time a claim is made under a policy, the amount of the premium will be deducted from the benefit payable under the claim.
- 7. Also know as Right to Examine, stating the insured has the right to look over the policy and decide wether or not to keep it. The most common health insurance time frame for this is 10days. However, long-term care insurance & Medicare supplements have 30 days.
- 10. This provisions states the insurer may cancel a policy at any time by giving the insured 5days written notice. Cancellation is effective when written notice is received by the insurer.Unearned premium will be returned to the insured on a pro rata basis.
- 12. The more favorable this provision is to the insured, the higher the premium.
- 14. This provisions states if an insured's total disability income benefits exceeds the greater of the insured's earnings at the time of disability or the insured's average monthly earnings for the past two years, the benefit payable is reduced and the premium paid for the excess coverage is refunded to the insured.
- 15. This provisions states each insurance company pays a proportionate share when providing benefits for the same loss and excess premiums are refunded to the policyowner.
- 17. This provisions states the insurer shall not be liable for any loss sustained by the insuredwhile under the influence of alchol or a narcotic unless it was taken under the advice of a physician.
- 18. This provisions states the insurer can cancel it at any time.
- 19. This provisions states the insurer cannot cancel coverage (except for non-payment of premium) or raise premiums.
- 20. This provisions states if an insured has more than one policy of a similar type with an insurance company, the insurer can limit the amount of benefits that will be paid under all contracts. Excess premiums are refunded over a specified amount.
Down
- 1. This provision automatically amends any policy provision to conform to the minimum requirements of the insured's state of residence.
- 2. Under this provision, coverage is temporarily suspended if the insured is serving in the military. Coverage is reactivated when the insured leaves military service.
- 4. The insurer's promise to pay under the conditions described in the policy. It also identifies the type of loss covered by the contract.
- 5. This provisions states the policy cannot be canceled except for non-payment of premium, and premiums may increase on a renewal date if the insurer has raised premiums for all insureds in that coverage classification.
- 8. This provisions states the insurer has the option to renew or not for any reason on a premium due or anniversary date.
- 9. This provisions states the insurer will not be liable for any loss that was caused by the insured's commission of or attempt to commit a felony. Also the insurer is not liable for a loss caused by the insured engaging in an illegal occupation.
- 11. An exchange of value & is a necessary element of a legal contract.
- 13. This provisions states the insurer may terminate coverage but only for reasons not based on the insured's health such as reaching a certain age.
- 16. The insurance company may make changes to the premiumrates or benefits, when the insured does this.