Death Benefit The amount payable, as stated in a life insurance policy, to the designated beneficiary(ies) upon the death of the insured. The amount paid is the face value, plus any riders, less any outstanding loans.

Declarations Page The section of a property and casualty insurance contract containing such information as the name, description, and location of insured property; the name and address of the insured; the period for which the policy is in force; premiums payable; and the amount of coverage.

Declination An insurer's refusal to insure an individual after careful evaluation of the application for insurance and any other relevant factors.

Deductible The amount that must be paid out of pocket by the insured for covered losses before the insurance company pays a claim.

Deed of Title A written document conveying title of property, mostly commonly used when transferring legal title to real estate from one party to another.

Deferred Annuity An annuity in which the income payments/withdrawals begin at some future date.

Defined Benefit Plan An employer-sponsored retirement plan that promises to pay a specified amount to each employee who retires after a set number of years of service with the company. Generally the employer makes all contributions to such a plan, although employees do contribute to them in some cases. This is also referred to as a Defined Benefit Pension Plan or pension.

Defined Contribution Plan An employer-sponsored retirement plan in which the level of contributions is fixed through annual or periodic contributions to accounts set up for each employee. The employer contribution may be a percentage of the employee's salary, or may be related to years of service. Employee contributions are also permitted. The benefit at retirement depends on the return from investments. Common examples of defined contribution plans include profit-sharing plans, and employee stock ownership plans.

Demutualization The process of changing the legal structure of an insurance company from a mutual form of ownership to a stock form of ownership.

Dental Insurance Individual or group plan that helps pay the costs of normal dental care as well as damage to teeth from an accident.