Glossary

Dealers open lot coverage provides auto dealerships options of collision, comprehensive, specified causes of loss, or fire and theft.

The death benefit is the amount payable by a life insurance policy in the event of the death of the named insured.

The death benefit limitation refers to a limit every life insurance company has on the amount of life insurance a person can buy.

The Death on the High Seas Act (DOHSA) is a federal remedy for the death of seamen or other individuals arising from negligence, strict liability, or the unseaworthiness of a vessel and occurring on the high seas that is beyond three nautical miles from shore on a worldwide basis.

The death rate is the number of deaths occurring per 1,000 people.

A debit agent is an agent who works on the debit or industrial life insurance system.

Debit life insurance is a type of industrial life insurance—that is, life insurance purchased primarily by people with low income levels under which the premium is collected weekly, biweekly, or monthly.

The debit system is the system of collecting life insurance premiums on a weekly or monthly basis involving an actual visit by the agent.

Debris removal is coverage for the cost of removal of debris of covered property damaged by an insured peril.

Decennial liability is a type of insurance coverage required by construction contracts in some foreign countries (mainly in European countries including France, Finland, Italy, and Spain) that covers the costs to rectify a total or partial collapse of the construction.