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INSURANCE meaning: 1. an agreement in which you pay a company money and they pay your costs if you have an accident…. Learn more.
Jun 17, 2021 · Insurance coverage is the amount of risk or liability that is covered for an individual or entity by way of insurance services. Insurance coverage, such as auto insurance, life insurance – or ...
Apr 18, 2024 · An insurance is a legal agreement between an insurer (insurance company) and an insured (individual), in which an insured receives financial protection from an insurer for the losses he may suffer under specific circumstances. Under an insurance policy, the insured needs to pay regular amount of premiums to the insurer.
Jun 29, 2022 · Insurance is a product that helps protect you from financial loss in the event of a loss, accident, injury, or death. When you sign up for insurance, you're entering a contract between you and the insurance company. There are many different insurance types, each covering unique risks.
What is 'Insurance'. Definition: A financial risk management tool in which the insured transfers a risk of potential financial loss to the insurance company that mitigates it in exchange for monetary compensation known as the premium. Description: Insurance policies, a contract between the policyholder and the insurance company, are of ...
Apr 17, 2024 · Simply put, the definition of insurance is a contract between an individual (known as the “policyholder”) and an insurance company. In this contract, the insurance company, or carrier, agrees to provide the insured individual (or individuals) named on the policy with a certain amount of financial reimbursement after a covered loss.
insurance in American English. (ɪnˈʃurəns, -ˈʃɜːr-) noun. 1. 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. 2.
