Glossary
Glossary of terms
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Database
- A collection of numeric data or textual information that is processed in computer-readable form and stored electronically in a computer’s memory for later electronic publishing or distribution. - www.ifebp.org
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Day Care (Adult)
- Provision during the day on a regular basis of a range of services that may include health medical psychological social nutritional and educational services that allow a disabled or elderly person to function in the home or at a center.- www.ifebp.org
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Death Benefit
- The payment made to designated beneficiaries upon the death of a participating employee. This could be the employee’s or employer's share in the investment fund the life insurance purchased for him or her or both.
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Death Rate
- The proportion of persons who die within a year usually expressed as so many per 1000.- www.ifebp.org
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Debenture
- An unsecured long-term debt backed only by the integrity of the borrower not by collateral. An example is an unsecured bond.- www.ifebp.org
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Debenture Bonds
- Bonds backed by the general credit of the issuer but not secured by a specific lien on property.- www.ifebp.org
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Debt
- Something owed by one person to another. Debt securities are loans at a specified rate of return for a specified period of time.- www.ifebp.org
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Debt Limit or Ceiling
- The maximum debt that can be legally created by a state or local government.- www.ifebp.com
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Debt Service
- The sum of money required periodically to make the payments necessary to amortize a debt and interest charges the principal and interest payments.- www.ifebp.org
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Debt-to-Equity Ratio
- A measure of the relative amount of funds provided by lenders and owners. Debt/Equity Ratio = Long-Term Debt Stockholder’s Equity- www.ifebp.org
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Dedicated Bond Portfolio
- Portfolio designed to meet a specific set of future benefit payments with the cash flow from the bonds held in a portfolio. The most common application of the dedicated portfolio concept is in funding benefits due to retired employees. Ideally the cash flow from the portfolio exactly matches each future payment both in amount and timing. If this exact matching is achieved the funding of future payments will not depend on the level of interest rates in the future. The actuary may then raise the actuarial assumption to a market rate of interest. This reduces the actuarial liability of the plan and could substantially lower its annual funding costs.- www.ifebp.org
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Deductible
- The amount of out-of-pocket expenses that must be paid for health services by the insured before becoming payable by the carrier. Most common in major medical policies but also found in basic policies. See also Family Deductible; First Dollar Coverage.- www.ifebp.org
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Deed
- A written instrument by which lands tenants and hereditaments are transferred which instrument is signed sealed and delivered by the grantor.- www.ifebp.org
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Defensive Industry
- An industry relatively unaffected by business cycles such as the food industry or the utility industry.- www.ifebp.org
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Defensive Issues
- Issues of established companies in industries relatively unaffected by business cycles.- www.ifebp.org
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Defensive Medicine
- The practice by physicians of authorizing medically unnecessary tests and procedures increasing hospital admissions and extending lengths of stay in an attempt to limit their exposure to malpractice suits.- www.ifebp.org
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Defensive Portfolio
- A portfolio consisting mainly of short-maturity bonds preferred stocks or other securities that are unlikely to fluctuate much in either direction. Compare with Aggressive Portfolio.- www.ifebp.org
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Deferred Annuity
- Annuity contract providing for the initiation of payments at some designated future date or age. Contrast with Immediate Annuity.- www.ifebp.org
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Deferred Benefits
- Noncash compensation to which an employee may be entitled at a later date following employment assuming he or she has enough credited years of service for vesting (e.g. pension plans 401(k) savings plans stock options etc.).- www.ifebp.org
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Deferred Payments
- Compensation or benefit payments to be made at a future time.- www.ifebp.org
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Deferred Vested Pension
- For terminating employees a plan offering a pension usually deferred until retirement. Benefits are determined when employment is terminated.- www.ifebp.org
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Defined Benefit Plan
- means an arrangement which is not a defined contribution plan.- The Pensions (Superannuation Funds & Retirement Schemes) Act 2006
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Defined Contribution Plan
- means an arrangement whereby benefits for a member are determined solely as a function of the amount that can be provided by-(a) contributions made by the employer on behalf of the member; and(b) interest earned and other gains and losses allocated to the member's account in the fund;- The Pensions (Superannuation Funds & Retirement Schemes) Act 2006
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