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| Fort Wayne | | While some companies raise their | | Independent Agent: An agent |
| Cincinnati | | prices based on your actual age, | | operating as an independent |
| Waco | | most companies increase the price of | | contractor under the independent |
| Harrisburg | | their policies six months before your | | agency system. |
| Oxnard | | birthday. Its a term called Age | | |
| Oakland | | Nearest in the industry, and that | | Criticism: A correction suggested by a |
| High Point | | half-year price increase could really | | rating or auditing bureau to an insurer. |
| Duluth | | add up over a 20-year term policy. As | | |
| Burbank | | above, the quicker you purchase your | | Convention Values: Values assigned |
| Fayetteville | | policy the better. | | to insurers' assets in the convention |
| Santa Clara | | | | blank. |
| Palm Desert | | The best time to switch policies is | | |
| Ann Arbor | | within one month of receiving your | | Earned Income: The money |
| Corpus Christi | | policy renewal from your current | | individuals earn as a result of working |
| Edison | | insurer. You can typically cancel your | | at some job or occupation for which |
| Lowell | | policy without any fees or penalties if | | they are paid a salary. |
| Green Bay | | you act within this time period. | | |
| Williamsburg | | | | Mutualization: The process of |
| Virginia Beach | | Life insurance, specifically Term Life, | | converting a stock insurer to a mutual |
| Newport Beach | | is arguably one of the best values in | | insurer, accomplished by having the |
| Chesapeake | | the entire financial services arena. | | insurer buy stock and retire it. |
| Cypress | | Where else can you go and get | | |
| Portsmouth | | hundreds of thousands of dollars in | | Replacement: A new policy written to |
| Flint | | protection for literally pennies per | | take the place of one currently in force. |
| Vero Beach | | day? Rates for Term Life insurance | | |
| Corona | | remain at all-time lows, and now is the | | Short Rate Premium: The premium |
| Oklahoma City | | time to lock in the best prices. | | required for issuing a policy for a |
| Delray Beach | | | | period less than its normal term. |
| Fort Wayne | | If you decide to cancel your policy | | |
| Wilmington | | (after acquiring new coverage) | | Paid-In Surplus: Surplus paid in by |
| Bronx | | outside of the 30-day period, you may | | stockholders, as contrasted with |
| Mansfield | | have to pay a fee or penalty. | | surplus earned through the |
| Albuquerque | | However, you may still save money | | operations of a business. |
| Anchorage | | after paying the fee if your new policy | | |
| Tucson | | affords you significant savings. So | | |
| Anderson | | while it is best to wait until your | | |
| Toledo | | receive your renewal notice, you CAN | | |
| Flint | | cancel your policy at any time. | | |
