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| Cookeville | | Everyone has different needs, and | | Brokerage Business: Business |
| Lowell | | not one size fits all when it comes to | | offered to an insurer by a broker. This |
| Valdosta | | term life insurance. While it may make | | is sometimes called excess or |
| Irving | | sense for people in their 30s and 40s | | surplus business. |
| Sioux Falls | | to secure a 20-year term length, a | | |
| Clarksville | | 10-year term might be more | | Brokerage Department: A department |
| Clinton Township | | appropriate for someone nearing | | of an insurer whose purpose is to |
| Philadelphia | | retirement. | | deal with brokers in the placing of |
| Augusta | | | | insurance. |
| Riverside | | The quickest and easiest way to | | |
| Columbus | | shop for new insurance is by | | Partial Loss: A loss covered by an |
| Livonia | | comparing rates at InsWebs online | | insurance policy which does not |
| Asheville | | marketplace. If you do it the | | completely destroy or render |
| Baltimore | | old-fashioned way (by calling or | | worthless the insured property. |
| Los Angeles | | visiting multiple agents or insurance | | |
| Chicago | | companies) it could take up a huge | | Initial Premium: An amount paid at the |
| Brooklyn | | chunk of your time, which no one | | inception of an insurance contract, |
| Baltimore | | wants or needs. By completing | | usually subject to adjustment at the |
| Cleveland | | InsWebs online application, you will | | end of the policy period. |
| Waterloo | | have rates to compare to your old | | |
| Tuscaloosa | | ones within minutes! | | Exclusion: A contractual provision that |
| Chicago | | | | denies coverage for certain perils, |
| Greensboro | | The best time to switch policies is | | persons, property, or locations. |
| Tampa | | within one month of receiving your | | |
| Fort Myers | | policy renewal from your current | | Valuation Clause: A clause stating the |
| Redlands | | insurer. You can typically cancel your | | value of items for insurance |
| Spring Hill | | policy without any fees or penalties if | | purposes, making it a valued policy. |
| Oklahoma City | | you act within this time period. | | |
| St. Louis | | | | Mutualization: The process of |
| Pembroke Pines | | Life insurance, specifically Term Life, | | converting a stock insurer to a mutual |
| Lincoln | | is arguably one of the best values in | | insurer, accomplished by having the |
| Fort Lauderdale | | the entire financial services arena. | | insurer buy stock and retire it. |
| Bronx | | Where else can you go and get | | |
| Cedar Rapids | | hundreds of thousands of dollars in | | Federal Deposit Insurance |
| Washington | | protection for literally pennies per | | Corporation (FDIC): An agency of the |
| Williamsport | | day? Rates for Term Life insurance | | federal government which insures |
| Providence | | remain at all-time lows, and now is the | | bank deposits up to a stated |
| High Point | | time to lock in the best prices. | | maximum. |
