Across
- 3. premiums for different aspects of insurance that vary with amount of coverage, deductibles, and various risk factors
- 4. a savings account that pays interest based on current interest rates. Money market accounts pay higher interest rates than other savings options and usually require a higher minimum balance.
- 6. bank charges for different services for different types of accounts
- 7. a contract between an insurance company and customer that states the terms of the coverage, the limitations, and the premiums
- 9. investments made as a loan to a government entity, company, non-profit organization, for a stated amount of time and on which the investor (bond buyer) receives interest. Interest is usually paid periodically over the pre-determined time.
- 11. contracts sold, usually by insurance companies, for which the buyer pays regular premiums for a specified time, and then receives a stated amount of money per month or year for life, usually beginning with the time of retirement
- 13. interest that is calculated on the latest balance, including all previously accumulated interest that has been added to the original principal
- 14. a specified amount deposited with a bank for a predetermined amount of time, from a few months to several years, that earns interest at a set rate. At the end of the specified time, on the maturity date, the deposited amount accrues the interest for the entire time.
- 15. the amount of money paid by the customer to the insurance company for specified coverage as stated in the policy
- 16. the total or maximum amount by the insurance company a consumer will be paid in the event of a loss
Down
- 1. the effective annual rate of return taking into account the effect of compounding interest
- 2. the amount available in an account for a person, business, or organization to spend. Some types of savings accounts have limitations on time and amount of withdrawals allowed without penalty.
- 5. a retirement plan through which an employer puts a portion of an employee's earnings into an account set aside and invested to grow for the employee's retirement. These funds are usually tax exempt at the time of deposit.
- 8. a bank or credit union account in which the money deposited earns interest so there will be more money in the future than originally deposited. The owner of the account can make deposits and withdrawals at any time without penalty.
- 10. interest paid on the original principal in an account, disregarding any previously earned interest
- 12. shares or pieces of a corporation's assets and earnings