Declaration
A declaration is a structure of statement, which expresses some thought. Element of a property or responsibility insurance policy that states the name and address of policyholder, property insured, its place and description, the policy period, premiums, and supplemental information.

Debt Leverage
The percentage of borrowed money to whole capital.

Debt/Capitalization Ratio
The percentage of debt to debt plus equity, at a holding company level, for debt of an issuer's holding company.

Declinature
The rejection of an insurer or reinsurers to offer terms of cover.

Dedicated Vehicle
A corporate associate that only participates on one or more associates that are managed by the same managing representative or group of managing agents. The term is often used interchangeably with the appearance aligned member.

Deductible
The sum of loss paid by the policyholder. Each a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. Quantity sum that must be paid by the insured before benefits will be paid by the insurer.

Deferred annuity
Annuity allowance expenditure that will begin at some future date.

Deferred Group Annuity
A kind of group annuity given that for the purchase each year of a paid-up deferred annuity for each affiliate of the group, the total amount received by the member at retirement being the sum of these delayed annuities.

Defined Benefit Plan
A withdrawal plan under which pension benefits are fixed in advance by a formula based generally on years of service to the corporation multiplied by a specific percentage of wages, usually average wages over that period or highest average earnings over the final years with the company.

Defined Contribution Plan
A worker profit plan under which the employer sets up benefit accounts and charity are made to it by the employer and by the employee. The employer regularly matches the employee's contribution up to a stated limit.

Demutualization
The exchange of an insurance company from a shared insurance company to a stock insurance company.

Deposit Term Insurance
A shape of term insurance, not really concerning a deposit, in which the first-year premium is larger than succeeding premiums. Typically, a partial bequest is paid at the end of the term period.

Depository Institution
Monetary organization that obtains its funds mainly through deposits from the public. Includes profitable banks, savings and loan associations, savings banks, and credit unions.

Disability
Physical or intellectual state that prevents a person from performing one or more occupational duties temporarily, long-term, or totally.

Direct Premiums
Casualty premiums composed by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some straight premiums and the risk involved with their reinsurers.

Dividend
The quantity amount of money returned to the proprietor of a participating policy. The money is a partial repayment of the premium paid. It results from definite mortality, interest and expenses that were added favorable than expected when the premiums were set.