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Glossary beginning with D
- Death Benefitsearch for term
- The amount of benefit that will be paid to your beneficiaries in the event of your death (covered person).
- Deductiblessearch for term
- The minimum amount that you would need to pay (for a hospital/medical bill) when you make a claim. It applies to the claimable amount rather than the incurred hospital bill. You only need to pay the deductible once in a policy year.
- Disabilitysearch for term
- Physical or mental condition that prevents you from performing one or more occupational duties temporarily (short-term), long-term, or totally (total disability).
- Disability Benefitsearch for term
- A feature added to some life insurance policies providing for the waiver of premium, and sometimes payment of monthly income, if you become totally and permanently disabled.
- Disability Income Insurancesearch for term
- Pays a fixed amount each month to replace the income you would lose if you were unable to work as a result of an accident or illness usually of up to 80 per cent of your average monthly salary.
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How are investment returns (i.e. interest rates) used in the Benefit Illustration of Participating Products derived? To find out more...click here.
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