Insurance Gobbledygook Made Simple
Plain english explanations of insurance terms used by agents, companies and lawyers and found in your insurance policies.
DDeath benefit amount paid to the beneficiary upon your death.Declarations pagethe 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.Declinationthe rejection by a life insurance company of a life insurance application.Decreasing terma term life policy in which the death benefit goes down.Deductiblethe 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.Depreciation the decrease in value of your vehicle or its parts due to wear, tear, and age.Disability benefita feature of some policies for the waiver of premium if the policyholder becomes permanently and totally disabled.Discount fees for service to providersHMOs contract with health providers to provide services at discounted rates.Dividendmoney paid annually to a policyholder as a partial return of the paid premium on participating insurance to reflect a companyâs favorable operating experience. Dividends are not guaranteed.Double indemnity see accidental death