Death Benefit:
In life insurance, the face amount, as stated in the policy, to be paid upon proof of death of the insured.

Decreasing term life insurance:
Term life insurance on which the face value slowly decreases in scheduled steps from the date the policy comes into force to the date the policy expires, while the premium remains level.

Delivery of policy:
The presentation of an insurance policy to the insured.

Delivery receipt:
In insurance, a receipt signed by the policyowner, stating that he or she has received the policy.

Disability rider:
A rider in a life insurance policy that, in the event of an insured’s total disability, the insurer will waive payment of premiums falling due during the period of disability.  Also known as waiver of premium.

Dividend:
In a participating whole life insurance policy, the refund of that part of the premium paid at the beginning of the year which still remains after the company has set aside the necessary reserve and made deductions for claims and expenses.  The dividend may also include a share in the company’s investments, mortality and operating profits.

Dividend Additions:
In a whole life insurance policy, paid-up additional insurance purchased with the dividends on existing policies.  Participating policies provide that their dividends may be used as single premiums at the insured’s attained age to purchased paid-up insurance as additions to the amount of insurance specified on the face of the contract.  Also known as Paid up additions.

Dividend options:
In  a participating whole life insurance policy, the different ways in which the insured may elect to receive surplus earnings:  In cash; as a reduction of premium; as additional paid-up insurance; left on deposit at interest; or as additional term insurance.

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