Death Benefit

The amount payable, as stated in a life insurance policy, to the designated beneficiary(ies) upon the death of the insured. The amount paid is the face value, plus any riders, less any outstanding loans.

Declarations Page

The section of a property and casualty insurance contract containing such information as the name, description, and location of insured property; the name and address of the insured; the period for which the policy is in force; premiums payable; and … Continued


An insurer’s refusal to insure an individual after careful evaluation of the application for insurance and any other relevant factors.


The amount that must be paid out of pocket by the insured for covered losses before the insurance company pays a claim.

Deed of Title

A written document conveying title of property, mostly commonly used when transferring legal title to real estate from one party to another.

Deferred Annuity

An annuity in which the income payments/withdrawals begin at some future date.

Defined Benefit Plan

An employer-sponsored retirement plan that promises to pay a specified amount to each employee who retires after a set number of years of service with the company. Generally the employer makes all contributions to such a plan, although employees do … Continued

Defined Contribution Plan

An employer-sponsored retirement plan in which the level of contributions is fixed through annual or periodic contributions to accounts set up for each employee. The employer contribution may be a percentage of the employee’s salary, or may be related to … Continued


The process of changing the legal structure of an insurance company from a mutual form of ownership to a stock form of ownership.

Dental Insurance

Individual or group plan that helps pay the costs of normal dental care as well as damage to teeth from an accident.