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Insurance Company |
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Insurance Company A company, which may be for-profit, non-profit or government-owned, that sells the promise to pay for certain expenses in exchange for a regular fee, called a premium. For example, if one purchases health insurance, the insurance company will pay for (some of) the client's medical bills, if any. Likewise, in life insurance, the company will give the client's beneficiary a certain amount of money when the client dies. The insurance company covers its expenses and/or makes a profit by spreading the risk of any one client over the pool of premiums from many clients. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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