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| Santa Barbara | | Individuals who have 30-year | | License: A certification of authority for |
| Mansfield | | mortgages might want to consider a | | an agent or insurer to operate, given |
| Poughkeepsie | | 30-year term to ensure that the house | | by the appropriate jurisdiction. |
| Columbus | | is protected throughout the period of | | |
| Texarkana | | the loan. | | Admitted (or Allowed) Assets: Assets |
| North Hollywood | | | | whose values are permitted by state |
| Acworth | | If you decide to cancel your policy | | law to be included in the annual |
| Santa Barbara | | (after acquiring new coverage) | | statement of the insurer. |
| Schaumburg | | outside of the 30-day period, you may | | |
| Saginaw | | have to pay a fee or penalty. | | Agency Contract (or Agreement): The |
| San Bernardino | | However, you may still save money | | document which establishes the legal |
| Memphis | | after paying the fee if your new policy | | relationship between an agent and an |
| Baton Rouge | | affords you significant savings. So | | insurer. |
| Pittsburgh | | while it is best to wait until your | | |
| Jacksonville | | receive your renewal notice, you CAN | | Level Commission System: A system |
| Grand Junction | | cancel your policy at any time. | | of commissions in which the first year |
| Cleveland | | | | and all renewal commissions are the |
| Chattanooga | | Make sure you have a new policy in | | same percentage of the premium. |
| Westbury | | place before you cancel your old one | | |
| Cranston | | to avoid a lapse in coverage. This will | | Partnership Entity: The partnership |
| Richmond | | also prevent having to figure out the | | considered as an entity and not in |
| Sarasota | | amount of any unused premium that is | | terms of its individual part-owners. |
| Morristown | | due to you from your old insurance | | |
| Cincinnati | | company, or having to spar with your | | Captive Agent: One who sells |
| Rockville | | agent about exactly when your policy | | insurance for only one company as |
| Orange Park | | was cancelled and how much they | | opposed to an agent who represents |
| Detroit | | owe you. | | several companies. |
