UK: 1. Underwriting measure imposed by life insurers on sub-standard lives. The debt is deducted from the sum payable on death within the term but not from any survival benefit. It may be for a fixed amount (fixed debt) or it may diminish each year (diminishing debt) eventually to nil to coincide with a reducing extra risk 2. Money due from one party to another. ‘Trade debtors’, a balance sheet item, are assets at risk through non-payment and therefore insurable under credit insurance and book debts insurance.
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UK: a device the effect of which is to reduce the amount payable under a life policy effected on a sub- standard life in the case of death from a specified cause, or from natural causes as opposed to accidental death.
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MEDICAL,USA: Legal obligation to pay money. This may arise from a consumer credit transaction or rental purchase agreement.
Tag: RAW
Debt collection
Act of an individual who regularly engages in collecting money owed or any persons who sell or offer to sell forms for collection of money owed.
Debt collector
Individual who regularly engages in debt collection for themselves, an employer, or others and includes persons who sell or offer to sell forms represented to be a collection system.
Debtor
UK: A person who owes money to another, i.e. his creditor. The creditor has an insurable interest in the life of the debtor.
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One who owes a legal obligation or money to another.
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MEDICAL,USA: Person owing money that is obligated on a debt.
Debtor-creditor groups
Group composed of lending institutions such as banks, credit unions, savings and loan associations, finance companies, retail merchants, and credit card companies and their debtors.
Debug
To remove errors from a software program or the computer itself.
Decapitation
Insufficient payment by a managed care plan in which physicians and hospitals are paid a fixed, per capita amount for each patient enrolled over a stated period of time, regardless of the type and number of services provided; inadequate reimbursement to the hospital on a per-member/per-month basis to cover costs for the members of the plan.
Decedent
MEDICAL,USA: Individual who has died.
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Same as deceased.
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Synonym for deceased.
Decennale Liability Insurance
Liability insurance for contractors, architects and consulting engineering covering both liability for accidents on the site during a construction period and subsequent liability for collapse or defects for up to 10 years.
Decennial insurance
Single premium tenyear (or longer) latent defects insurance indemnifying the owner against physical damage to the premises caused by an inherent defect in the design, materials, or construction of the structure. Cover includes remedial work when an inherent defect threatens the stability of the building. Subsidence, heave and landslip are covered if accompanied by damage to the structure. Insurers paying claims may acquire subrogation rights against any contractor or professional otherwise liable for the defect. The policy is assignable by the insured to new owners.