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  Insurance Terms

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Death Benefit
Amount paid to the beneficiary upon your death.

Declarations Page
The front page of your policy containing information such as the exact name of your insurance company, the policy number, your coverages, the amounts of your coverages, and your deductibles.

The rejection by a life insurance company of a life insurance application.

Declined Risk
A proposed insured who is considered to present a risk that is too great for an insurer to cover.

Decreasing Term
A term life policy in which the death benefit goes down.

The amount you must pay from your own pocket for each claim or accident before the company pays on a claim. The bigger the deductible, the cheaper the coverage.

The decrease in value of your vehicle or its parts due to wear, tear, and age.

Direct Incurred Loss
The property loss in which the insured peril is the proximate cause of damage or destruction.

Direct Written Premium
The total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsures.

Disability Benefit
A feature of some policies for the waiver of premium if the policyholder becomes permanently and totally disabled.

Discount Fees for Service to Providers
HMOs contract with health providers to provide services at discounted rates.

Money paid annually to a policyholder as a partial return of the paid premium on participating insurance to reflect a company’s favorable operating experience. Dividends are not guaranteed.

Double Indemnity
See accidental death



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