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| Albuquerque | | The best time to switch policies is | | Exclusions: Specific situations, |
| Reno | | within one month of receiving your | | conditions, or circumstances that are |
| Edison | | policy renewal from your current | | listed in the contract as being not |
| Anchorage | | insurer. You can typically cancel your | | covered. |
| Cookeville | | policy without any fees or penalties if | | |
| Clearwater | | you act within this time period. | | Admitted Company: An insurance |
| Seattle | | | | company authorized and licensed to |
| Fremont | | Everyone has different needs, and | | do business in a given state. |
| Minneapolis | | not one size fits all when it comes to | | |
| Hendersonville | | term life insurance. While it may make | | Agent's Qualification Law: Education, |
| Evanston | | sense for people in their 30s and 40s | | experience, and other requirements |
| Escondido | | to secure a 20-year term length, a | | imposed by the state upon persons |
| Johnson City | | 10-year term might be more | | desiring to be licensed as agents. |
| Hendersonville | | appropriate for someone nearing | | |
| Alpharetta | | retirement. | | Losses Incurred: The total losses, |
| Seattle | | | | whether paid or not, sustained by an |
| Huntington Beach | | The quickest and easiest way to | | insurer during a given period, e.g., 12 |
| Coral Springs | | shop for new insurance is by | | months. |
| Roanoke | | comparing rates at InsWebs online | | |
| Troy | | marketplace. If you do it the | | Open Rating: A system whereby a |
| Portsmouth | | old-fashioned way (by calling or | | state allows an insurer to use rates |
| Cleveland | | visiting multiple agents or insurance | | without prior approval. |
| Newark | | companies) it could take up a huge | | |
| Huntsville | | chunk of your time, which no one | | Commingling: An illegal practice |
| Manchester | | wants or needs. By completing | | which occurs when an agent mixes |
| Myrtle Beach | | InsWebs online application, you will | | personal funds with the insured's or |
| Lowell | | have rates to compare to your old | | insurer's funds. |
| Stuart | | ones within minutes! | | |
| Tucson | | | | Mandatory Valuation Reserve: A |
| Lubbock | | While some companies raise their | | reserve required by a state law to |
| Columbus | | prices based on your actual age, | | offset any declines in the valuation of |
| Houma | | most companies increase the price of | | securities listed as admitted assets. |
| South Bend | | their policies six months before your | | |
| Conroe | | birthday. Its a term called Age | | Professional Insurance Agents |
| West Chester | | Nearest in the industry, and that | | Association: A trade association of |
| Schaumburg | | half-year price increase could really | | mutual insurance agents. |
| Quincy | | add up over a 20-year term policy. As | | |
| Lorain | | above, the quicker you purchase your | | |
| Columbus | | policy the better. | | |
