| | | | |
|
| Rockford | | Healthy people have the best | | Nonassignable: A policy that the |
| Vineland | | mortality risks and thus are much | | owner cannot assign to a third party. |
| Myrtle Beach | | cheaper for companies to insure. This | | Most policies are nonassignable |
| Glendale | | translates into lower rates for the | | unless approval is given by the |
| Vancouver | | Super Preferred customer than | | insurer. |
| Salt Lake City | | someone with higher risk factors such | | |
| Tempe | | as a heart condition, cancer or | | Approved: The condition which exists |
| Waterloo | | diabetes. Conversely, if you were | | when the person or object to be |
| Columbus | | unhealthy when you acquired your | | insured meets the underwriting |
| Flint | | policy, and your health has now | | standards of the insurer. |
| Duluth | | improved, it might be time to shop for | | |
| Cleveland | | a new policy, as your rates are likely | | Sole Proprietorship: A business |
| Milwaukee | | to be lower. | | enterprise owned by one person who |
| Southfield | | | | is its manager and employee. |
| Redlands | | People who are trying to quit | | |
| Fayetteville | | smoking, for example, might be best | | Examiner: An employee assigned by |
| Ogden | | suited purchasing a shorter term (and | | the state insurance department to |
| Stockbridge | | then replacing it with a longer term | | audit insurers' records. |
| Reading | | policy when they qualify for | | |
| Garland | | non-tobacco prices). | | Tabular Plan: A retrospective rating |
| Erie | | | | plan, which uses tables to furnish the |
| Boca Raton | | If you decide to cancel your policy | | various values for the rating formula. |
| Palo Alto | | (after acquiring new coverage) | | |
| Huntington Beach | | outside of the 30-day period, you may | | Operating Expense: The expense of |
| Oceanside | | have to pay a fee or penalty. | | an insurer other than commissions |
| Springfield | | However, you may still save money | | and taxes. Called " and Insurance |
| Dallas | | after paying the fee if your new policy | | Expense" in the convention statement |
| Jackson | | affords you significant savings. So | | blank. |
| Sunnyvale | | while it is best to wait until your | | |
| Oxnard | | receive your renewal notice, you CAN | | Lapsed Policy: One which has been |
| Orange | | cancel your policy at any time. | | allowed to expire because of |
| San Diego | | | | nonpayment of premiums. |
| Fayetteville | | Make sure you have a new policy in | | |
| Philadelphia | | place before you cancel your old one | | Liabilities: Money owed or expected |
| Rapid City | | to avoid a lapse in coverage. This will | | to be owed. Insurance company |
| Daytona Beach | | also prevent having to figure out the | | financial statements, for instance, |
| Manchester | | amount of any unused premium that is | | show assets and liabilities. |
| Monroe | | due to you from your old insurance | | |
| Cookeville | | company, or having to spar with your | | |
| Sumter | | agent about exactly when your policy | | |
| Columbus | | was cancelled and how much they | | |
| Hattiesburg | | owe you. | | |
