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!


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Declarations Page

The page attached to the front of a property or liability insurance policy that includes information such as the name and address of the insured, the property insured, its location and description, the policy period, the amount of insurance coverage, the deductible, applicable premiums, and other related policy information provided by the insured.


The amount of an insured loss paid by the policyholder. For example, if you select a deductible of $250 for your auto insurance policy, you agree to pay the first $250 worth of damages to your car if you are in an accident. In health insurance, it is the portion of eligible medical expenses that the insured must pay before the plan with make any benefit payments.

Deferred Annuity

This is an annuity contract in which payments are delayed until a predetermined point in time, with a choice of different payout options.

Defined Benefit Plan

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

Defined Contribution Plan

An employee benefit plan under which the employer sets up benefit accounts and contributions are made to it by the employer and by the employee. The employer usually matches the employee's contribution up to a stated limit.

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Defined Network Plan 

A term used in Wisconsin law to refer to any health benefit plan that requires or creates incentives for an enrollee to use providers that are owned, managed, or under contract with the insurer offering the plan. This type of plan is sometimes referred to as a managed care plan.

Demand Deposit

Customer assets that are held in a checking account.  Funds can be readily withdrawn by check or β€œon demand.”


The conversion of insurance companies from mutual companies owned by their policyholders into publicly-traded stock companies.


An individual--usually a child or a spouse--who relies on another person for support and who obtains health coverage through that person (usually a spouse or parent).


A decrease in the value of property over a period of time resulting from use, obsolescence, or wear and tear.


In insurance, reducing regulatory control over insurance rates and forms. In other states, commercial insurance for businesses a certain size have been deregulated.


Contracts that derive their value from an underlying financial asset, such as publicly-traded securities and foreign currencies. Often used as a hedge against changes in value.

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Difference of Conditions

Policy designed to fill in gaps in a business's commercial property insurance coverage. There is no standard policy.


Diminution of Value


The idea that a vehicle loses value after it has been damaged in an accident and repaired.

Direct Premiums

Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their reinsurers.

Direct Sales

Method of selling insurance directly to the insured through an insurance company's own employees, through the mail, or via the Internet. These sales are made in lieu of any agents, with exceptions made for licensed home office employees.

Direct Writers

Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, or via Internet. Large insurers, are increasingly using many different channels to sell insurance, whether they are using direct writers or agency companies.

Directors and Officers Liability Insurance

Covers directors and officers of a company for negligent acts or omissions, and for misleading statements that result in suits against the company, often by shareholders. Directors and officers insurance policies usually contain two coverages: personal coverage for individual directors and officers who are not indemnified by the corporation for their legal expenses or judgments against them – some corporations are not required by their corporate or state charters to provide indemnification; and corporate reimbursement coverage for indemnifying directors and officers. Entity coverage for claims made specifically against the company may also be available. 

Disability Benefit

A feature added to some life insurance policies providing for waiver of premium, if the policyholder becomes totally and permanently disabled.

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Disability Insurance

A type of health insurance that pays a monthly income to the policyholder when he or she is unable to work because of an illness or accident.


Leaving a Medicare managed care plan to go to another health plan. There are certain plan rules that must be followed in order to leave the plan officially. Your disenrollment will be effective the first of the month following the submission of your disenrollment form.

Dis-enrollment Form

The form necessary to submit to your present Medicare managed care plan indicating your decision to leave the plan. This could be a simple written statement from you to the insurance company, or you can get this form from your local Social Security office or from the plan in which you are presently enrolled.


An amount of money returned to the holder of a participating policy. The money is partial refund of the premium paid. It results from actual mortality, interest and expenses that were more favorable than expected when the premiums are set.

Domestic Insurance Company

Term used by a state to refer to any company incorporated there.

Drug Formulary

Many defined network plans establish a list of prescription drugs that the plan considers medically appropriate and cost effective. The defined network plan will provide coverage for only those prescription drugs named in the list. However, your doctor may present medical evidence to the insurer to obtain an exception that will allow coverage for a prescription drug not routinely covered by the plan.

Durable Medical Equipment (DME)

Medical equipment that is ordered by a doctor for use in the home. These items must be reusable, such as walkers, wheelchairs, or hospital beds.

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