Find term beginning with the letter D...

Date of Commencement

The date of commencement is the date specified in the policy schedule on which the risk cover on the insured's life commences.

Death Benefit

The amount of claim paid to the nominee/beneficiary under the life insurance policy after the life insured passes within the policy term is called the death benefit. It is the lump sum amount that a nominee receives when the life insured dies within the policy period.

Death Claim

In insurance, a death claim refers to the process by which the beneficiaries or nominees of an insurance policy receive the sum assured or death benefit from the insurance company upon the death of the policyholder. It is a formal request made to the insurance company to obtain the financial payout as specified in the insurance policy.

Decreasing Sum Assured

Decreasing sum assured is a feature under the term plan in which the sum assured decreases every year by a percentage.

Deferment Period

A deferment period, in the context of insurance, refers to a specific duration during which the insured individual, referred to as the life assured, has become unable to work until they start receiving benefits from their insurance policy

Deferred Annuity

A deferred annuity is a life insurance policy type that generates income for life after retirement.

Disability

Disability is the condition of the body or mind that makes it difficult for the person to do a certain task in daily life. Know about disability in detail on ABSLI.

Discontinuance Charges (Surrender Charges)

Discontinuance charges or surrender charges is an amount levied on the policyholder which he has to pay on the cancellation of the policy.

Discontinuance of Premium

Discontinuance of premium is the act when the life insured stops paying the premium. The discontinuance of premium could be either because of the surrender of the policy or due to death.

Diversified Portfolio

Diversified portfolio is making investment in different assets or securities to minimise the risk of returns.

Disability Waiver of Premium

The Disability Waiver of Premium is an additional feature, or a 'rider,' that can be attached to a primary insurance policy in India. This rider provides the benefit of waiving off future premium payments on the main policy in the event that the policyholder becomes permanently disabled and unable to work.

Depreciation Meaning in Insurance

Depreciation refers to the reduction in the worth of a vehicle over time as a result of age, use, and deterioration. As the car ages, its value in the market decreases, leading to a decrease in the amount that can be claimed for insurance purposes.

Double Indemnity in Insurance

Double indemnity is a policy provision that pays out an additional sum, typically twice the original policy benefit, to the beneficiaries if the insured's death occurs due to specific circumstances, such as an accident. This concept is prevalent in life insurance policies in India and other countries, and it provides an extra layer of financial protection to the insured's loved ones in case of an unexpected and tragic event.

Deductible in Insurance

A deductible refers to the amount a policyholder is required to pay out-of-pocket before the insurance company begins covering the remaining expenses of a claim and is a fundamental term in the insurance world. This concept is prevalent across various types of insurance, such as health, motor, and home insurance. When discussing insurance matters in India, it is essential to consider the unique guidelines, regulations, and market practices that apply to the Indian context.

Declined Risk

In the context of life insurance, a 'declined risk' refers to an individual or application that has been deemed too risky by an insurance company, resulting in the denial or rejection of an insurance policy. When an insurance company declines a risk, it means they are unwilling to provide coverage based on the assessed level of risk associated with the applicant.