Please fill in the blank.

1. An insurance company which is owned by its policyholders is called a _____________

2. The lag between the time that coverage is sold and the time when claims are paid is known as the ________ .

3. A _________whole life policy is one that can and usually does pay dividends.

4. The overall process of assessing the expected claim costs for buyers, determining the applicable rate, and deciding whether to offer coverage is known as __________________.