Insurance Theme

Insurance Theme 6 - Life Insurance


By: Dr. Nabil Chaiban


12
   
    34
       
5                                           
                                             
         
         
         
         
      6  7 
             
      8      9           
                           
               
               
            10                     
                                   
               
               
            11      12             
                                   
                 
                 
                  13
                   
          14       
                   
                   
                   
    15                               
                                     
                 
                 
               
               
               
               
           
           
  16                       
                           
       
       
    17               
                     
 
 
18                                 
                                   
 
 
19                                       
                                         
 
 

Across

  1. A term loosely applied to cash value life insurance. This type of policy is meant to last a whole life, as opposed to term, which is in force for a specified period of time or term.
  2. In insurance, another term for insurer, used because the insurance company assumes or carries the risk for its policy owners.
  3. In life insurance, all conditions pertaining to an individual which affect his or her health, susceptibility to injury, as well as expectancy of life. These factors are considered in determining the amount of risk. If the risk is too high, the insurer will refuse coverage.
  4. A policy terminated because of nonpayment of premiums.
  5. A general term usually referring to a small policy of life insurance ($5,000 to $25,000) intended only to meet the final expense needs of the insured.
  6. The relative incidence of death.
  7. One who dies without a will. Also, the condition of dying without a will.
  8. A form of life insurance covering a group of persons generally having some common interest, such as employees of the same company or members of the same union or association, etc.
  9. In life insurance, an alternate beneficiary designated to receive payment, usually in the event that the original beneficiary has died before the insured. Also, sometimes referred to as a secondary beneficiary.

Down

  1. Life insurance issued for a term of years, normally building up no cash value and expiring without value. Typical term periods are 10, 15, 20, 25 and 30 years.
  2. A person whose physical condition, occupation, mode of living, and other characteristics indicate a prospect for longevity which is superior to that of the average longevity of unimpaired lives of the same age.
  3. A beneficiary whose rights in a policy are subject to the insured’s reserved right to revoke or change the beneficiary designation and the right to surrender or make a loan on the policy without the consent of the beneficiary.
  4. A rider that provides for the insurance company to pay a multiple of the policy face amount (usually 2 times) to the designated beneficiary when the insured’s death is the result of an accident which was the direct cause of death.
  5. A life insurance policy under which the insured receives shares of the divisible surplus of the company.
  6. The average duration of the life remaining to a number of persons of a given age, according to a given mortality table.
  7. A danger inherent in the insured’s line of work. This often results in higher premiums.
  8. A rider is an attachment to a policy that adds something to the policy (as opposed to being established in the body of the policy). It allows parents to purchase life insurance for their children (all in one rider), without having to purchase a separate policy for each child.
  9. A tax levied upon the right to transfer property at death, imposed upon and measured by the estate that the deceased leaves.
  10. A trust created to take effect during the lifetime of the grantor.
  11. A rider in a life insurance policy that, in the event of an insured’s total disability, the insurer will waive payment of premiums falling due during the period of disability.