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| Longwood | | If you decide to cancel your policy | | Mandatory Valuation Reserve: A |
| Myrtle Beach | | (after acquiring new coverage) | | reserve required by a state law to |
| Ann Arbor | | outside of the 30-day period, you may | | offset any declines in the valuation of |
| Goldsboro | | have to pay a fee or penalty. | | securities listed as admitted assets. |
| Long Island City | | However, you may still save money | | |
| Modesto | | after paying the fee if your new policy | | You/Your: These words are used to |
| Alpharetta | | affords you significant savings. So | | refer to the named insured in many of |
| Beaumont | | while it is best to wait until your | | the modernized/personalized policy |
| Anchorage | | receive your renewal notice, you CAN | | forms. |
| Newport News | | cancel your policy at any time. | | |
| Arlington | | | | Independent Contractor: One who |
| Omaha | | Everyone has different needs, and | | agrees to perform according to a |
| Harrisburg | | not one size fits all when it comes to | | contract and who is not an employee. |
| Downey | | term life insurance. While it may make | | |
| Springfield | | sense for people in their 30s and 40s | | Commingling: An illegal practice |
| Kansas City | | to secure a 20-year term length, a | | which occurs when an agent mixes |
| Houma | | 10-year term might be more | | personal funds with the insured's or |
| St. Louis | | appropriate for someone nearing | | insurer's funds. |
| Palo Alto | | retirement. | | |
| Silver Spring | | | | Loss Adjustment Expense: The cost |
| Torrance | | The best time to switch policies is | | of adjusting losses, excluding the |
| El Cajon | | within one month of receiving your | | amount of the loss itself. |
| Pueblo | | policy renewal from your current | | |
| San Antonio | | insurer. You can typically cancel your | | Agent's License: A certificate of |
| Cranston | | policy without any fees or penalties if | | authority from the state which permits |
| Little Rock | | you act within this time period. | | the agent to conduct business. |