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| Grand Rapids | | Everyone has different needs, and | | Commission of Authority: A document |
| Columbia | | not one size fits all when it comes to | | outlining the powers delegated to an |
| Miami | | term life insurance. While it may make | | agent by an insurer. |
| Anderson | | sense for people in their 30s and 40s | | |
| Daytona Beach | | to secure a 20-year term length, a | | Admitted Company: An insurance |
| Rome | | 10-year term might be more | | company authorized and licensed to |
| Las Cruces | | appropriate for someone nearing | | do business in a given state. |
| Pittsburgh | | retirement. | | |
| Yuma | | | | Claim Report: A report filed by an |
| Corpus Christi | | If you have noticed that your auto | | agent setting forth the facts of a claim. |
| Harrisburg | | insurance rates are still increasing | | Same as Loss Report. |
| Clearwater | | with each renewal, or even have not | | |
| Springfield | | gone down even though you have a | | Lapsed Policy: One which has been |
| Omaha | | great driving record, this lower pricing | | allowed to expire because of |
| Hendersonville | | trend makes it more important then | | nonpayment of premiums. |
| Sterling Heights | | ever that you shop around for auto | | |
| Schenectady | | insurance. | | Cash Flow Underwriting: The use of |
| Newport News | | | | rating and premium collection |
| Henderson | | People who are trying to quit | | techniques by insurance companies |
| Biloxi | | smoking, for example, might be best | | to maximize interest earnings on |
| Chattanooga | | suited purchasing a shorter term (and | | premiums. |
| Lakeland | | then replacing it with a longer term | | |
| Rome | | policy when they qualify for | | Underwriters Laboratories, Inc. (UL): A |
| Fort Wayne | | non-tobacco prices). | | testing laboratory for manufactured |
| Joliet | | | | items to determine their safety |
| Charleston | | While some companies raise their | | propensities. |
| Atlanta | | prices based on your actual age, | | |
| Columbus | | most companies increase the price of | | Calendar Year Experience: This |
| Houston | | their policies six months before your | | measures the premiums and losses |
| Silver Spring | | birthday. Its a term called Age | | entered on accounting records during |
| Chandler | | Nearest in the industry, and that | | the 12-month calendar. |
| Birmingham | | half-year price increase could really | | |
| Des Moines | | add up over a 20-year term policy. As | | Fiduciary: A person holding the funds |
| Spring Hill | | above, the quicker you purchase your | | or property of another in a position of |
| Rome | | policy the better. | | trust. An example would be the |
| Daytona Beach | | | | executor of an estate. |
