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This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
In this episode you will learn: - The critical difference between a mid-term cancellation and an end-of-term nonrenewal. - Why insurers have broader rights to cancel a policy within the first 60 days. - How premium refunds are calculated as pro-rata or short-rate depending on who cancels. - The universal requirement for insurers to provide advance written notice before termination. - That only the insurer can modify policy terms, which must be done via a written endorsement.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
