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Death Benefit
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A payment made to a designated beneficiary upon the death of the employee annuitant.
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Decreasing Term Insurance
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Level Premium Term insurance with death benefits that decrease each policy anniversary. The death benefit may decrease according to a schedule that fits a declining need, such as a loan balance.
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Deferred Annuity
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Annuity payments that will begin at some future date.
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Deferred Compensation
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Arrangements by which compensation to employees for past or current services is postponed until some future date.
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Deposit Term Insurance
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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.
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Direct Beneficiary
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The named beneficiary, to whom death proceeds will be paid directly upon the insured's death.
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Disability Insurance (DI)
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A form of insurance coverage that provides a portion of income lost as the result of a total or partial disability caused by either an accident or an illness.
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Disability Overhead Expense (DOE)
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A reimbursement plan designed to cover business expenses during the total or partial disability of a professional or business person.
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Dividend
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A refund of part of the annual premium, which is left over after the company has set aside the necessary reserve.
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Domestic Insurer
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An insurance company is a domestic company in the state in which it is incorporated.
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Double Indemnity
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A policy provision usually associated with death, which doubles payment of a designated benefit when certain kinds of accidents occur.
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