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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,...
noun. uk / ɪnˈʃɔː.r ə ns, ɪnˈʃʊə.r ə ns / us / ɪnˈʃɝː. ə ns / Add to word list. B2 [ U ] an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc.: car / travel insurance. take out insurance I'll need to take out extra car insurance for another driver.
The meaning of INSURANCE is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. How to use insurance in a sentence.
Mar 31, 2023 · 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 contract in which a company agrees to provide financial compensation to an individual, property, company, or entity for specified losses. This compensation covers instances of illness, damage, or death.
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.
insurance. noun. /ɪnˈʃʊərəns/, /ɪnˈʃɔːrəns/. /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.
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.
Jun 29, 2022 · Insurance is a contract between you and your insurer. You pay a premium, and the insurance company agrees to pay for certain types of losses you may experience.
Feb 22, 2011 · Stephanie Colestock. Updated Jun 05, 2024. Frequently Asked Questions. How do insurance companies make money? Insurance companies generate revenue from premiums paid on outstanding policies and...
