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| Springfield | | While some companies raise their | | Initial Premium: An amount paid at the |
| Stockbridge | | prices based on your actual age, | | inception of an insurance contract, |
| Pasadena | | most companies increase the price of | | usually subject to adjustment at the |
| Green Bay | | their policies six months before your | | end of the policy period. |
| Acworth | | birthday. Its a term called Age | | |
| Lima | | Nearest in the industry, and that | | Mutualization: The process of |
| Fullerton | | half-year price increase could really | | converting a stock insurer to a mutual |
| Fredericksburg | | add up over a 20-year term policy. As | | insurer, accomplished by having the |
| Asheville | | above, the quicker you purchase your | | insurer buy stock and retire it. |
| Toms River | | policy the better. | | |
| Pasadena | | | | Underwriters Laboratories, Inc. (UL): A |
| Palm Desert | | Individuals who have 30-year | | testing laboratory for manufactured |
| Boulder | | mortgages might want to consider a | | items to determine their safety |
| Glendale | | 30-year term to ensure that the house | | propensities. |
| Cleveland | | is protected throughout the period of | | |
| Wichita | | the loan. | | Indemnity: Restoration to the victim of |
| Knoxville | | | | a loss by payment, repair, or |
| Chandler | | Make sure you have a new policy in | | replacement. |
| Berkeley | | place before you cancel your old one | | |
| Tucson | | to avoid a lapse in coverage. This will | | Claim: A demand made by the |
| Tallahassee | | also prevent having to figure out the | | insured, or the insured's beneficiary, |
| Bayside | | amount of any unused premium that is | | for payment of the benefits provided |
| Anderson | | due to you from your old insurance | | by the contract. |
| Lowell | | company, or having to spar with your | | |
| Muskegon | | agent about exactly when your policy | | Operating Expense: The expense of |
| Vineland | | was cancelled and how much they | | an insurer other than commissions |
| Monroe | | owe you. | | and taxes. Called " and Insurance |
| Fayetteville | | | | Expense" in the convention statement |
| Beaumont | | If you decide to cancel your policy | | blank. |
| Omaha | | (after acquiring new coverage) | | |
| Saginaw | | outside of the 30-day period, you may | | Retrospective Premium: The final |
| Reno | | have to pay a fee or penalty. | | premium in a retrospective rating |
| Des Moines | | However, you may still save money | | plan. See Retrospective Rating. |
| Edmond | | after paying the fee if your new policy | | |
| Inglewood | | affords you significant savings. So | | |
| Sarasota | | while it is best to wait until your | | |
| Savannah | | receive your renewal notice, you CAN | | |
| Jackson | | cancel your policy at any time. | | |
