Insurance /(?)/
In·sur·ance
Insurance
n.
- The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. Assurance, n., 6.
- The premium paid for insuring property or life.
- The sum for which life or property is insured.
-
A guaranty, security, or pledge; assurance. [Obs.]
The most acceptable insurance of the divine protection.
- Any means of assuring against loss; a precaution; as, we always use our seat belts as insurance against injury.
Phrases & Compounds
- Accident insurance
- insurance against pecuniary loss by reason of accident to the person.
- Endowment insurance
- a combination of life insurance and investment such that if the person upon whose life a risk is taken dies before a certain specified time the insurance becomes due at once, and if he survives, it becomes due at the time specified. Also called whole life insurance.
- Fire insurance
- See under Fire.
- Insurance broker
- a broker or agent who effects insurance.
- Insurance company
- a company or corporation whose business it is to insure against loss, damage, or death.
- Insurance policy
- a certificate of insurance; the document containing the contract made by an insurance company with a person whose property or life is insured.
- Life insurance
- See under Life.