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| Indianapolis | | While some companies raise their | | Policy Period (or Term): The period |
| Wichita | | prices based on your actual age, | | during which the policy contract |
| Lancaster | | most companies increase the price of | | affords protection, e.g., six months or |
| New Port Richey | | their policies six months before your | | one or three years. |
| Dothan | | birthday. Its a term called Age | | |
| Longmont | | Nearest in the industry, and that | | Lloyd's Broker: A person who has the |
| Boston | | half-year price increase could really | | authority to negotiate insurance |
| Redlands | | add up over a 20-year term policy. As | | contracts with the underwriters on the |
| Bronx | | above, the quicker you purchase your | | floor at Lloyd's. |
| Joliet | | policy the better. | | |
| Melbourne | | | | Will Ride: Coverage that remains in |
| Lansing | | Healthy people have the best | | effect regardless of the geographical |
| Toms River | | mortality risks and thus are much | | location in which a loss occurs. |
| Houston | | cheaper for companies to insure. This | | |
| Racine | | translates into lower rates for the | | Gain and Loss Exhibit: The portion of |
| Texarkana | | Super Preferred customer than | | the convention blank which |
| Manchester | | someone with higher risk factors such | | represents an analysis of gains, |
| Shreveport | | as a heart condition, cancer or | | losses, and surplus during an |
| Newark | | diabetes. Conversely, if you were | | accounting period. |
| Oakland | | unhealthy when you acquired your | | |
| Billings | | policy, and your health has now | | Gross Premium: The net premium |
| Stamford | | improved, it might be time to shop for | | plus operating expenses, |
| Tulsa | | a new policy, as your rates are likely | | commissions and other expenses. |
| Bay City | | to be lower. | | |
| Irvine | | | | Domestic Insurer (or Company): An |
| Newark | | Make sure you have a new policy in | | insurer formed under the laws of the |
| Little Rock | | place before you cancel your old one | | state in which the insurance is written. |
| Monroe | | to avoid a lapse in coverage. This will | | |
| West Chester | | also prevent having to figure out the | | Criticism: A correction suggested by a |
| Melbourne | | amount of any unused premium that is | | rating or auditing bureau to an insurer. |
| Cincinnati | | due to you from your old insurance | | |
| Virginia Beach | | company, or having to spar with your | | Mutualization: The process of |
| Springfield | | agent about exactly when your policy | | converting a stock insurer to a mutual |
| San Bernardino | | was cancelled and how much they | | insurer, accomplished by having the |
| Fayetteville | | owe you. | | insurer buy stock and retire it. |
