Find Insurance terms 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.
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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.
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Death Benefits:
The amount of money paid to the beneficiary after the death of the life insured within the policy term is called death benefits.
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Death Claim:
A death claim is a request made by the designated nominee to release the claim amount under the life insurance policy.
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Decreasing Sum Assured:
Decreasing sum assured is a feature under the term plan in which the sum assured decreases every year by a percentage.
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Deferment Period:
The period when the life insured has become unable to work until he starts receiving the benefit is called the deferment period.
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Deferred Annuity:
A deferred annuity is a life insurance policy type that generates income for life after retirement.
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Disability:
The condition of the body or mind that makes it difficult for the person to do a certain task in daily life is called a disability.
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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.
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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.
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Diversified Portfolio:
Diversified portfolio is making investment in different assets or securities to minimise the risk of returns.
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