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- Dictionaryinsurance/ɪnˈʃʊərəns/
noun
- 1. an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium: "many new borrowers take out insurance against unemployment or sickness" Similar
- 2. a thing providing protection against a possible eventuality: "jackets were hung on the back of their chairs, insurance against an encounter with air-conditioning" Similar
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Feb 28, 2024 · Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. There are many types of insurance policies. Life, health,...
Insurance meaning is a legal contract between two parties – the insurance company (insurer) and the individual (insured), wherein the insurance company promises to compensate for financial losses due to insured contingencies in return for the premiums paid by the insured individual.
Mar 31, 2023 · Insurance Definition. Insurance is an agreement between an individual policy (or a business) and an insurance company. Under this agreement, the policyholder pays premiums to the insurer in exchange for financial compensation in the event of a covered incident.
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss.
INSURANCE definition: 1. an agreement in which you pay a company money and they pay your costs if you have an accident…. Learn more.
1. a. : coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. b. : the business of insuring persons or property. c. : the sum for which something is insured. 2. : a means of guaranteeing protection or safety. The contract is your insurance against price changes.
/ɪnˈʃʊrəns/ [uncountable, countable] an arrangement with a company in which you pay them regular amounts of money and they agree to pay the costs, for example, if you die or are ill, or if you lose or damage something. health/medical insurance. car/travel/unemployment insurance.
an agreement in which you pay a company money, either in one payment or in regular payments, and they pay your costs, for example, if you lose or damage something, or have an accident, injury, etc.: car / holiday / home / health, etc. insurance. an insurance plan / policy. to buy / sell insurance.
Jun 18, 2024 · insurance, a system under which the insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or to render services to the insured in the event that certain accidental occurrences result in losses during a given period. It thus is a method of coping with risk.
noun. the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved.
