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| Monroe | | People who are trying to quit | | Level Commission System: A system |
| High Point | | smoking, for example, might be best | | of commissions in which the first year |
| Lafayette | | suited purchasing a shorter term (and | | and all renewal commissions are the |
| Columbus | | then replacing it with a longer term | | same percentage of the premium. |
| Olympia | | policy when they qualify for | | |
| Virginia Beach | | non-tobacco prices). | | Underinsurance: A condition in which |
| West Chester | | | | not enough insurance is carried to |
| Ventura | | The quickest and easiest way to | | cover the insurable value. |
| Amarillo | | shop for new insurance is by | | |
| Yuma | | comparing rates at InsWebs online | | Policywriting Agent: An agent who has |
| Goldsboro | | marketplace. If you do it the | | the authority to prepare and effect an |
| Pasadena | | old-fashioned way (by calling or | | insurer's policy. |
| Miami | | visiting multiple agents or insurance | | |
| Chattanooga | | companies) it could take up a huge | | Depreciation: A decrease in the value |
| Worcester | | chunk of your time, which no one | | of any type of tangible property over |
| Hemet | | wants or needs. By completing | | a period of time resulting from use, |
| Tucson | | InsWebs online application, you will | | wear and tear, or obsolescence. |
| Decatur | | have rates to compare to your old | | |
| Newburgh | | ones within minutes! | | Fictitious Groups: Groups formed |
| Venice | | | | primarily for the purpose of buying |
| Oakland | | If you decide to cancel your policy | | insurance. Under the law such groups |
| Louisville | | (after acquiring new coverage) | | may not be underwritten. |
| St. Paul | | outside of the 30-day period, you may | | |
| Santa Clara | | have to pay a fee or penalty. | | Tariff Rate: A rate established by a |
| Syracuse | | However, you may still save money | | rating organization, which comes from |
| Duluth | | after paying the fee if your new policy | | the tables, schedules and rules found |
| Tempe | | affords you significant savings. So | | in the tariff of rates. |
| Tucson | | while it is best to wait until your | | |
| Overland Park | | receive your renewal notice, you CAN | | Incurred Expense: Expenses not yet |
| Conroe | | cancel your policy at any time. | | paid. Can also include paid |
| Sioux Falls | | | | expenses in some accounting |
| Mesa | | Everyone has different needs, and | | systems. |
| Roanoke | | not one size fits all when it comes to | | |
| Fort Collins | | term life insurance. While it may make | | Broker of Record: A broker who has |
| Scranton | | sense for people in their 30s and 40s | | been designated to handle certain |
| Pasadena | | to secure a 20-year term length, a | | insurance contracts for the |
| Richmond | | 10-year term might be more | | policyholder. |
| Rockford | | appropriate for someone nearing | | |
| Little Rock | | retirement. | | |
