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Declaration Page (Dec Sheet)

The portion of an insurance policy containing a summary of the coverage and limits of insurance provided.

Decreasing Term Policy

A term policy outlining a decrease in benefits in accordance with a schedule.


A provision or clause in an insurance policy that the first given number of dollars or percentage of expenses shall be paid by the policyholder before the insurance coverage kicks in.

Deferred Annuity

An annuity that pays income benefits at a designated future date, as opposed to an "immediate annuity," which pays benefits at once.


Depreciation is the loss in value from all causes, including age, wear and tear.