Definition and meaning of demutualization :

demutualization: The conversion of an insurance company from a mutual insurance company to a stock insurance company.

(Source: Bank of America )

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Definition and meaning of deferred annuity :

deferred annuity: Annuity payments that will begin at some future date.

(Source: Bank of America )

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Definition and meaning of deductible :

deductible: Amount that must be paid by the insured before benefits will be paid by the insurer.

(Source: Bank of America )

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Definition and meaning of debt leverage :

debt leverage: The ratio of borrowed money to total capital.

(Source: Bank of America )

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Definition and meaning of debt, capitalization ratio :

debt/capitalization ratio: The ratio of debt to debt plus equity, at a holding company level, for debt (or debt-like securities) of an issuer's holding company.

(Source: Bank of America )

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Definition and meaning of declination :

declination: The rejection by a life insurance company of an application for life insurance, usually for reasons of health or occupation.

(Source: Bank of America )

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Definition and meaning of deposit administration group annuity :

deposit administration group annuity: A type of group annuity providing for the accumulation of contributions in an undivided fund out of which annuities are purchased as the members of the group retire.

(Source: Bank of America )

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Definition and meaning of deposit term insurance :

deposit term insurance: A form of term insurance, not really involving a "deposit," in which the first-year premium is larger than subsequent premiums. Typically, a partial endowment is paid at the end of the term period. In many cases the partial endowment can be applied toward the purchase of a new term policy or, perhaps, a whole life policy.

(Source: Bank of America )

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Definition and meaning of disability insurance :

disability insurance: A form of health insurance that pays the policyholder in place of his or her usual income if the policyholder can't work because of illness or accident. Usually, policies begin paying after a waiting period stipulated in the policy, and pay a certain percentage of the policyholder's usual income. Sometimes this is provided by employers, but it's also available as a separate coverage.

(Source: Bank of America )

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Definition and meaning of dismemberment :

dismemberment: Accidental loss of limb or sight.

(Source: Bank of America )

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Definition and meaning of disposable personal income :

disposable personal income: Personal income less personal tax and nontax payments; the income available to people for spending and saving.

(Source: Bank of America )

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Definition and meaning of dividend :

dividend: An amount of money returned to the holder of a participating policy. The money is a partial refund of the premium paid. It results from actual mortality, interest and expenses that were more favorable than expected when the premiums were set.

(Source: Bank of America )

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Definition and meaning of disability income insurance :

disability income insurance: Insurance that provides periodic payments when an insured person is unable to work as a result of illness or injury.

(Source: Bank of America )

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Definition and meaning of disability benefit :

disability benefit: A feature added to some life insurance policies providing for waiver of premium, and sometimes payment of monthly income, if the policyholder becomes totally and permanently disabled.

(Source: Bank of America )

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Definition and meaning of diagnosis-related groups :

diagnosis-related groups (DRG): System of determining reimbursement fees based on the medical diagnosis of a patient.

(Source: Bank of America )

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Definition and meaning of direct first-year & single premiums :

direct first-year & single premiums: Direct first-year and single premiums, excluding annuity and fund deposits.

(Source: Bank of America )

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Definition and meaning of disability :

disability: Physical or mental condition that prevents a person from performing one or more occupational duties temporarily (short-term), long-term, or totally (total disability).

(Source: Bank of America )

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Definition and meaning of D&O :

D&O: Directors and officers liability insurance. D&O insurance covers financial liability claims against a company's officers and directors, including the CEO, chief financial officer, vice presidents, and shareholder-elected directors.

(Source: Bank of America )

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Definition and meaning of current assumption whole life insurance :

current assumption whole life insurance: A variation of universal life insurance, this product involves fixed premiums and fixed death benefits. Its cash value growth depends on market conditions. If they are favorable and if premiums paid in the policy's first year are large enough, premiums for one or more years may be reduced to zero.

(Source: Bank of America )

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Definition and meaning of auto medical payments :

auto medical payments: If you cause an accident, the coverage works like this: Auto liability coverage pays the bodily injury and property damage losses of the other person. Collision coverage pays for repairs to your own vehicle. Auto medical payments coverage pays medical and funeral expenses for you and your passengers. If you already have health and disability insurance, the coverage may be redundant.

(Source: Bank of America )

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Definition and meaning of contributory plan :

contributory plan: Group plan under which the insured shares in the cost of the plan with the policyholder.

(Source: Bank of America )

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Definition and meaning of conventional health plan :

conventional health plan: Plan that provides all benefits and issues certificates containing the insurance company's guarantees.

(Source: Bank of America )

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