If the insurance policy is taken from more than one underwriter where total or part of period of insurance, total or part of subject matter of insurance and total or part of sum insured are same, then this is called double insurance. Double insurance is for period, subject matter and sum insured for which both the policies run concurrently.
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See: Contribution.
Insurance Encyclopedia
Double option agreement
See: Cross Option Agreement.
Double protection (Life Insurance)
A contract that combines whole life insurance and term life insurance, with the future expiration date of the term policy stated. If the insured should die before the expiration date of the term life policy, both policies will pay out.
Doughnut hole
Also spelled donut hole . Another name for the step in a Medicare Part D plan in which the patient pays all of the expenses for eligible drugs until he or she has spent $3850. Also referred to as coverage gap or The gap .
Down time
Period during which a computer, communications line, or other device is malfunctioning or not operating correctly because of mechanical or electronic problems.
Downcode
Reduce the value and procedure code of an insurance claim when the documentation supports a higher level of service billed by a provider.
Downcoding
1. Coding system used by the physician’s office does not match the coding system used by the insurance company receiving the claim. The insurance company computer system converts the procedure code submitted to the closest code in use, which is usually down one level from the submitted code, generating decreased payment. Sometimes downcoding may occur when the diagnosis code does not support the level of care. 2. Selecting procedure codes at a lower level than the medical service requires or documentation supports. Also called undercoding . Also see penalized claim.
Download
To transmit or receive a data or graphic file from one computer to another.
Downscale
To apply the correct commission scale to the insurance premiums received in order to compute the commissions due.
Downside Risk
The chance that actual outcomes will be worse than some fixed level.