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| Chicago | | If you decide to cancel your policy | | Submitted Business: Applications for |
| Bay City | | (after acquiring new coverage) | | insurance submitted to an insurer but |
| Lafayette | | outside of the 30-day period, you may | | not yet acted upon by it. |
| Cranston | | have to pay a fee or penalty. | | |
| Lake Charles | | However, you may still save money | | Independent Contractor: One who |
| Zanesville | | after paying the fee if your new policy | | agrees to perform according to a |
| Columbia | | affords you significant savings. So | | contract and who is not an employee. |
| Richmond | | while it is best to wait until your | | |
| Charlotte | | receive your renewal notice, you CAN | | Exclusion: A contractual provision that |
| Philadelphia | | cancel your policy at any time. | | denies coverage for certain perils, |
| Lorain | | | | persons, property, or locations. |
| Quincy | | People who are trying to quit | | |
| Minneapolis | | smoking, for example, might be best | | Effective Date: The date on which the |
| Joliet | | suited purchasing a shorter term (and | | protection of an insurance policy or |
| Billings | | then replacing it with a longer term | | bond goes into effect. |
| Eugene | | policy when they qualify for | | |
| Buffalo | | non-tobacco prices). | | Notice of Cancellation: Written notice |
| San Jose | | | | by an insurer of intent to cancel |
| Portsmouth | | Everyone has different needs, and | | insurance, or written notice by an |
| Columbus | | not one size fits all when it comes to | | insured requesting cancellation. |
| Amarillo | | term life insurance. While it may make | | |
| Columbia | | sense for people in their 30s and 40s | | Nonadmitted Insurer: An insurer not |
| Lubbock | | to secure a 20-year term length, a | | licensed to do business in the |
| San Francisco | | 10-year term might be more | | jurisdiction in question. Same as |
| Burbank | | appropriate for someone nearing | | Unauthorized Insurer and Unlicensed |
| Flushing | | retirement. | | Insurer. |
