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| Irving | | If you decide to cancel your policy | | Submitted Business: Applications for |
| Elkhart | | (after acquiring new coverage) | | insurance submitted to an insurer but |
| Boise | | outside of the 30-day period, you may | | not yet acted upon by it. |
| Muncie | | have to pay a fee or penalty. | | |
| Orange Park | | However, you may still save money | | Preferred Risk: Any risk considered |
| Lubbock | | after paying the fee if your new policy | | to be better than the standard risk on |
| Augusta | | affords you significant savings. So | | which the premium rate was |
| Bronx | | while it is best to wait until your | | calculated. |
| Hampton | | receive your renewal notice, you CAN | | |
| Albany | | cancel your policy at any time. | | Effective Date: The date on which the |
| Belleville | | | | protection of an insurance policy or |
| Cedar Rapids | | Healthy people have the best | | bond goes into effect. |
| Texarkana | | mortality risks and thus are much | | |
| Portland | | cheaper for companies to insure. This | | Buy-Back" Deductible: A deductible |
| Quincy | | translates into lower rates for the | | which may be eliminated for an |
| Mesa | | Super Preferred customer than | | additional premium in order to |
| Acworth | | someone with higher risk factors such | | provide "first-dollar" coverage. |
| Malden | | as a heart condition, cancer or | | |
| Minneapolis | | diabetes. Conversely, if you were | | License: A certification of authority for |
| Springfield | | unhealthy when you acquired your | | an agent or insurer to operate, given |
| Chattanooga | | policy, and your health has now | | by the appropriate jurisdiction. |
| Carlsbad | | improved, it might be time to shop for | | |
| Kingsport | | a new policy, as your rates are likely | | Gross Premium: The net premium |
| Kingsport | | to be lower. | | plus operating expenses, |
| Lakewood | | | | commissions and other expenses. |
| Fall River | | The best time to switch policies is | | |
| Springfield | | within one month of receiving your | | Fiduciary: A person holding the funds |
| Owensboro | | policy renewal from your current | | or property of another in a position of |
| Hampton | | insurer. You can typically cancel your | | trust. An example would be the |
| Providence | | policy without any fees or penalties if | | executor of an estate. |
| Sterling Heights | | you act within this time period. | | |
| New Port Richey | | | | Deficit Carried Forward: The transfer |
| Sumter | | While some companies raise their | | of a debit balance from one |
| Staten Island | | prices based on your actual age, | | accounting period to another. |
| Warren | | most companies increase the price of | | |
| Chattanooga | | their policies six months before your | | |
| Livonia | | birthday. Its a term called Age | | |
| Pensacola | | Nearest in the industry, and that | | |
| Albany | | half-year price increase could really | | |
| Oceanside | | add up over a 20-year term policy. As | | |
| Denver | | above, the quicker you purchase your | | |
| San Antonio | | policy the better. | | |
