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Glossary of Insurance Terms

There are 154 entries in this glossary.
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Term Definition
Death Benefit

The limit of insurance or the amount of benefit that will be paid in the event of the death of a covered person.

Deductible

Amount of loss that the insured pays before the insurance kicks in.

Direct Premiums Written

The aggregate amount of recorded originated premiums, other than reinsurance, written during the year, whether collected or not, at the close of the year, plus retrospective audit premium collections, after deducting all return premiums.

Direct Writer

An insurer whose distribution mechanism is either the direct selling system or the exclusive agency system.

Disease Management

A system of coordinated health-care interventions and communications for patients with certain illnesses.

Dividend

The return of part of the policy's premium for a policy issued on a participating basis by either a mutual or stock insurer. A portion of the surplus paid to the stockholders of a corporation.

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