Rick Debe Insurance Agency - DBI Insurance Services
(262) 363-8650
Office Hours: M - Th 8:30 - 5:30 Friday 8:30 - 3:00

We've listed all the relevant insurance terminology we could think of...and then some!  If you don't find what you're looking for, just send us an email with your question and we'll get right back to you with the answer!


A    B   C   D   E   F    G   H      J   K   L   M   N   O   P     Q   R     T    U   V   W   X     Y     Z     4     5 




B-Share Variable Annuity


A form of variable annuity contract with no initial sales charge but if the contract is cancelled the holder pays deferred sales charges. This is usually the most common form of annuity contract.


Wisconsin's program to provide health care coverage for uninsured families.

Bank Holding Company


A company that owns or controls one or more banks. It is the Federal Reserve responsibility for regulating and supervising bank holding company activities, such as approving acquisitions and mergers and inspecting the operations of such companies. This also applies even when a bank owned by a holding company may be under the primary supervision of the Comptroller of the Currency or the FDIC.

Basis Point

0.01 percent of the yield of a mortgage, bond or note. The smallest measure used.

Bed Reservation 

This benefit is payable if you are receiving nursing home care and need to spend time in a hospital. The company will cover any charge made by the nursing home for reserving your bed during your hospitalization.


The person or financial instrument (for example, a trust fund) named in the policy as the recipient of insurance money in the event of the insured's death.

Benefit Appeal 

The opportunity for the Medicare beneficiary to submit a written request for review by the insurer of the denial of a claim for Wisconsin mandated benefits under the Medicare supplement policy.

Benefit Determination

A decision from the Medicare managed care plan to offer coverage under the provisions of the policy. The benefit could require a deductible or copayment. The benefit could also be limited to a certain amount by the plan.

Benefit Period

In health insurance, the number of days for which benefits are paid to the named insured and his or her dependents. For example, the number of days that benefits are calculated for a calendar year consist of the days beginning on January 1 and ending on December 31 of each year.

Back to Top

Benefit Triggers

A term used to describe when to pay benefits. One type of benefit trigger is an activity of daily living (ADL). Insurance companies may use different events or types of benefit triggers to determine when benefits will begin to be paid. The triggers are described in the eligibility criteria of the policy.


The increase in the dollar value of physical property which often occurs when new property replaces old property after a loss covered by property insurance. For example, betterment means that your repaired vehicle is better than it was before the accident. The application of the principle of indemnity would require the adjuster to reduce the insurer's payment to the insured by the amount of the recognized betterment.


A temporary or preliminary agreement to provide immediate insurance coverage until a policy can be written or delivered. May be oral or written and sets forth conditions of coverage. Often used during the interval between the coverage becoming effective and the time a formal policy is prepared and delivered. Normally it is issued for a limited period of time.

Blanket Insurance

This type of insurance provides coverage for more than one location or more than one type. In regards to property insurance, it covers multiple types at one location or one type of property at more than one location. Another example may be the accident and health protection that a student participating in school activities may receive. Coverage is provided for unnamed members within this group or class.

Bodily Injury and Liability Insurance

Portion of an auto insurance policy that covers injuries the policyholder causes to someone else.

Boiler and Machinery Insurance

Often called Equipment Breakdown, or Systems Breakdown insurance. Commercial insurance that covers damage caused by the malfunction or breakdown of boilers, and a vast array of other equipment.

Back to Top


In insurance, a form of suretyship. Bonds of various types guarantee a payment or a reimbursement for financial losses resulting from dishonesty, failure to perform and other acts.

Bond Rating

An evaluation of a bond's financial strength, conducted by such major ratings agencies as Standard & Poor's and Moody's Investors Service.


A marketing specialist who represents buyers of property and liability insurance and who deals with either agents or companies in arranging for the coverage required by the customer.

Burglary and Theft Insurance

Insurance for the loss of property due to burglary, robbery or larceny. It is provided in a standard homeowners policy and in a business multiple peril policy.

Business Income Insurance

Commercial coverage that reimburses a business owner for lost profits and continuing fixed expenses during the time that a business must stay closed while the premises are being restored because of physical damage from a covered peril, such as a fire. Business interruption insurance also may cover financial losses that may occur if civil authorities limit access to an area after a disaster and their actions prevent customers from reaching the business premises.

Business Owners Policy

A policy that combines property, liability and business interruption coverages for small- to medium-sized businesses. Coverage is generally cheaper than if purchased through separate insurance policies.

Back to Top