| | | | |
|
| Downey | | If you decide to cancel your policy | | Time Limits: The limits of time within |
| Cincinnati | | (after acquiring new coverage) | | which notice of a claim and proof of a |
| Evansville | | outside of the 30-day period, you may | | loss must be submitted. |
| Reading | | have to pay a fee or penalty. | | |
| Henderson | | However, you may still save money | | Paid-In Surplus: Surplus paid in by |
| Florissant | | after paying the fee if your new policy | | stockholders, as contrasted with |
| Longview | | affords you significant savings. So | | surplus earned through the |
| Green Bay | | while it is best to wait until your | | operations of a business. |
| Palm Desert | | receive your renewal notice, you CAN | | |
| Owensboro | | cancel your policy at any time. | | Gross Premium: The net premium |
| Lake Charles | | | | plus operating expenses, |
| Sarasota | | Individuals who have 30-year | | commissions and other expenses. |
| Torrance | | mortgages might want to consider a | | |
| Independence | | 30-year term to ensure that the house | | Commingling: An illegal practice |
| Southfield | | is protected throughout the period of | | which occurs when an agent mixes |
| Albuquerque | | the loan. | | personal funds with the insured's or |
| Canton | | | | insurer's funds. |
| Greenville | | Healthy people have the best | | |
| Dearborn | | mortality risks and thus are much | | Incurred Expense: Expenses not yet |
| Boynton Beach | | cheaper for companies to insure. This | | paid. Can also include paid |
| Ocala | | translates into lower rates for the | | expenses in some accounting |
| Hemet | | Super Preferred customer than | | systems. |
| Columbus | | someone with higher risk factors such | | |
| Kansas City | | as a heart condition, cancer or | | Policy Anniversary: The anniversary |
| Alpharetta | | diabetes. Conversely, if you were | | of the date of issue of a policy as |
| Huntington Beach | | unhealthy when you acquired your | | shown in the policy declarations. |
| Hot Springs | | policy, and your health has now | | |
| Macon | | improved, it might be time to shop for | | Indemnify: To restore the victim of a |
| Evansville | | a new policy, as your rates are likely | | loss to the same position as before |
| Longview | | to be lower. | | the loss occurred. |
