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| Lansing | | While some companies raise their | | Fiduciary: A person holding the funds |
| Rockford | | prices based on your actual age, | | or property of another in a position of |
| Manchester | | most companies increase the price of | | trust. An example would be the |
| Johnstown | | their policies six months before your | | executor of an estate. |
| Littleton | | birthday. Its a term called Age | | |
| Decatur | | Nearest in the industry, and that | | Policy Period (or Term): The period |
| Chandler | | half-year price increase could really | | during which the policy contract |
| Manchester | | add up over a 20-year term policy. As | | affords protection, e.g., six months or |
| Billings | | above, the quicker you purchase your | | one or three years. |
| Conroe | | policy the better. | | |
| Richmond | | | | Indemnity: Restoration to the victim of |
| Livonia | | If you decide to cancel your policy | | a loss by payment, repair, or |
| Council Bluffs | | (after acquiring new coverage) | | replacement. |
| Grand Prairie | | outside of the 30-day period, you may | | |
| Boise | | have to pay a fee or penalty. | | Gross Line: The total limit accepted |
| Lake Charles | | However, you may still save money | | by an insurer on an individual risk, |
| Charlotte | | after paying the fee if your new policy | | including the amount to be reinsured. |
| Monroe | | affords you significant savings. So | | |
| Boca Raton | | while it is best to wait until your | | Cash Flow Underwriting: The use of |
| Anchorage | | receive your renewal notice, you CAN | | rating and premium collection |
| Sioux Falls | | cancel your policy at any time. | | techniques by insurance companies |
| Macon | | | | to maximize interest earnings on |
| Irvine | | Make sure you have a new policy in | | premiums. |
| Santa Rosa | | place before you cancel your old one | | |
| Gainesville | | to avoid a lapse in coverage. This will | | Collusion: An agreement, usually |
| Portland | | also prevent having to figure out the | | secret, between two or more persons |
| Pembroke Pines | | amount of any unused premium that is | | to defraud or deprive another or |
| Muskegon | | due to you from your old insurance | | others of their property or rights. |
| Torrance | | company, or having to spar with your | | |
| Decatur | | agent about exactly when your policy | | Commercial Lines: This term is used |
| Lawton | | was cancelled and how much they | | to refer to insurance for businesses, |
| Wichita | | owe you. | | professionals, and commercial |
| El Cajon | | | | establishments. |
| Hollywood | | Healthy people have the best | | |
| Morristown | | mortality risks and thus are much | | |
| Monroe | | cheaper for companies to insure. This | | |
| Albany | | translates into lower rates for the | | |
| Bay City | | Super Preferred customer than | | |
| Harlingen | | someone with higher risk factors such | | |
| Southfield | | as a heart condition, cancer or | | |
| Westbury | | diabetes. Conversely, if you were | | |
| Portsmouth | | unhealthy when you acquired your | | |
| Olympia | | policy, and your health has now | | |
| Fort Collins | | improved, it might be time to shop for | | |
| Denver | | a new policy, as your rates are likely | | |
| Toms River | | to be lower. | | |
