dividend addition: An amount of paid up insurance purchased with a policy dividend and added to the face amount of the policy.
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Dividend – insurance term definition
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.
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disposable personal income: Personal income less personal tax and nontax payments; the income available to people for spending and saving.
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dismemberment: Accidental loss of limb or sight.
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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.
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disability income insurance: Insurance that provides periodic payments when an insured person is unable to work as a result of illness or injury.
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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.
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Disability – insurance term definition
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).
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direct first-year & single premiums: Direct first-year and single premiums, excluding annuity and fund deposits.
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diagnosis-related groups (DRG): System of determining reimbursement fees based on the medical diagnosis of a patient.
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