Insurance

Definition of Insurance

In`sur´ance
n.1.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.
2.The premium paid for insuring property or life.
3.The sum for which life or property is insured.
4.A guaranty, security, or pledge; assurance.
The most acceptable insurance of the divine protection.
- Mickle.
5.Any means of assuring against loss; a precaution; as, we always use our seat belts as insurance against injury.
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.

Related Words

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Insulation
Insulator
Insulite
Insulous
Insulse
Insulsity
Insult
Insultable
Insultation
Insulter
Insulting
Insultment
Insume
Insuperability
Insuperable
Insupportable
Insupposable
Insuppressible
Insuppressive
Insurable
-Insurance-
Insurance broker
Insurance company
Insurance policy
Insurancer
Insurant
Insure
Insurer
Insurgence
Insurgent
Insurmountability
Insurmountable
Insurmountableness
Insurmountably
Insurrection
Insurrectional
Insurrectionary
Insurrectionist
Insusceptibility
Insusceptible
Insusceptive
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