| | | | |
|
| Harrisburg | | Healthy people have the best | | Agency Contract (or Agreement): The |
| Plano | | mortality risks and thus are much | | document which establishes the legal |
| Newark | | cheaper for companies to insure. This | | relationship between an agent and an |
| Santa Monica | | translates into lower rates for the | | insurer. |
| Hemet | | Super Preferred customer than | | |
| Garland | | someone with higher risk factors such | | Level Commission System: A system |
| Sioux Falls | | as a heart condition, cancer or | | of commissions in which the first year |
| Wilmington | | diabetes. Conversely, if you were | | and all renewal commissions are the |
| Wilmington | | unhealthy when you acquired your | | same percentage of the premium. |
| Youngstown | | policy, and your health has now | | |
| Fort Worth | | improved, it might be time to shop for | | Preferred Risk: Any risk considered |
| San Bernardino | | a new policy, as your rates are likely | | to be better than the standard risk on |
| Pasadena | | to be lower. | | which the premium rate was |
| Columbia | | | | calculated. |
| Joliet | | If you decide to cancel your policy | | |
| Denton | | (after acquiring new coverage) | | Liabilities: Money owed or expected |
| Abilene | | outside of the 30-day period, you may | | to be owed. Insurance company |
| Des Moines | | have to pay a fee or penalty. | | financial statements, for instance, |
| Winter Haven | | However, you may still save money | | show assets and liabilities. |
| Frederick | | after paying the fee if your new policy | | |
| Santa Clara | | affords you significant savings. So | | Appraisal: An evaluation of property |
| Tucson | | while it is best to wait until your | | made to ascertain either the |
| Trenton | | receive your renewal notice, you CAN | | appropriate amount of insurance to |
| Tuscaloosa | | cancel your policy at any time. | | be written or the amount of loss to be |
| Louisville | | | | paid. |
| Las Cruces | | While some companies raise their | | |
| Anderson | | prices based on your actual age, | | Approved: The condition which exists |
| Fort Worth | | most companies increase the price of | | when the person or object to be |
| Huntington Beach | | their policies six months before your | | insured meets the underwriting |
| Springfield | | birthday. Its a term called Age | | standards of the insurer. |
| Joliet | | Nearest in the industry, and that | | |
| Jackson | | half-year price increase could really | | Commingling: An illegal practice |
| Racine | | add up over a 20-year term policy. As | | which occurs when an agent mixes |
| St. Joseph | | above, the quicker you purchase your | | personal funds with the insured's or |
| Lawton | | policy the better. | | insurer's funds. |
