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| Columbia | | Individuals who have 30-year | | Premium Receipt: The receipt given |
| Santa Clara | | mortgages might want to consider a | | a policy owner for the payment of a |
| Dubuque | | 30-year term to ensure that the house | | premium. |
| Johnstown | | is protected throughout the period of | | |
| Albany | | the loan. | | Mandatory Valuation Reserve: A |
| Edmond | | | | reserve required by a state law to |
| San Francisco | | Healthy people have the best | | offset any declines in the valuation of |
| Union | | mortality risks and thus are much | | securities listed as admitted assets. |
| Inglewood | | cheaper for companies to insure. This | | |
| Muncie | | translates into lower rates for the | | Equity: The money value of an |
| Athens | | Super Preferred customer than | | insurance company that is over and |
| Valdosta | | someone with higher risk factors such | | above its liabilities. Liabilities include |
| New Orleans | | as a heart condition, cancer or | | almost all of its reserves. |
| Long Island City | | diabetes. Conversely, if you were | | |
| Miami | | unhealthy when you acquired your | | Open Rating: A system whereby a |
| Midland | | policy, and your health has now | | state allows an insurer to use rates |
| Vancouver | | improved, it might be time to shop for | | without prior approval. |
| Jackson | | a new policy, as your rates are likely | | |
| Berkeley | | to be lower. | | Line of Business: The classification of |
| Beaumont | | | | business as utilized in the insurance |
| Richmond | | Why not take advantage of current | | industry, e.g., Fire, Allied Lines and |
| Duluth | | low prices? Many auto insurance | | Homeowners. |
| Olympia | | consumers are becoming educated | | |
| Bay City | | on other companies, plans, and rates | | Incurred Expense: Expenses not yet |
| Scranton | | that are available to them; ones that | | paid. Can also include paid |
| Abilene | | could afford them significant savings | | expenses in some accounting |
| Virginia Beach | | on their auto insurance. | | systems. |