Definitions for "Debits"
In the numerical rating system, debits represent underwriting factors that have an unfavorable effect on an individual's mortality rating. Debits are assigned positive values. See also credits and numerical rating system.----------[ Back
In the numerical rating system used for underwriting life insurance, a proposed insured's medical, personal, and financial characteristics that have an unfavorable effect on the individual's mortality rating and are assigned “plus” values. See also credits and numerical rating system.
Debits increase assets and decrease liability and equity accounts.
For the purposes of the ICM service, a debit indicates a transfer of money out of another account and into your FirstBank account.
At least one component of every accounting transaction (journal entry) is a debit. Debits increase assets and decrease liabilities and equity.
A debit is created when a deduction taken off a customerâ€(tm)s check is so large it canâ€(tm)t be left as a partial balance on an invoice. We indicate all invoices are paid in full and create a “debit”.