insurance

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Related to insurance benefits: Health Insurance Benefits

Insurance

Guarding against property loss or damage by making payments in the form of premiums to an insurance company, which pays an agreed-upon sum to the insured in the event of loss.

Insurance

A contract between a client and a provider whereby the client makes monthly payments, called premiums, in exchange for the promise that the provider will pay for certain expenses. For example, if one purchases health insurance, the provider will pay for (some of) the client's medical bills, if any. Likewise in life insurance, the provider will give the client's family a certain amount of money when the client dies. The insurance company spreads the risk of any one expense by pooling the premiums from many clients. See also: Takaful.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium the person or firm obtains insurance cover against financial risks. See ASSURANCE, COST, INSURANCE AND FREIGHT.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium, the person or firm obtains insurance cover against financial risks. The term assurance is frequency used interchangeably with that of insurance to describe certain kinds of life insurance. See RISK AND UNCERTAINTY.

insurance

A commercial contract agreeing to compensate one for loss in the event of specifically named or described risks.

References in periodicals archive ?
Although the trustee of the VEBA was authorized to provide post-retirement medical and life insurance benefits from the trust, most of the $35 million and $40 million contributions were not used for that purpose.
However, we decided to reduce our insurance benefit and our monthly fixed cost in exchange for some risk: Under the new plan, the insurance company wouldn't start paying benefits until the 181st day.
Hyland, "Age-related reductions in life insurance benefits," Monthly Labor Review, February 1991, pp.
Our efforts continue to result in companies making payment on life insurance benefits that are owed to consumers," Consedine added, also noting that the commonwealth is both recognized for its robust insurance industry as well as its continued leadership role in protecting consumers.
As of the end of October last year, nonpayment by six major property and casualty insurers of the third-sector policy insurance benefits between July 2001 and June 2006 amounted to 4,400 cases and 1.
In addition t the benefits our agents receive through a 401(a) plan, health insurance benefits are available to all brokers at a company rate, allowing them to enjoy the best coverage at an affordable price.
This report provides the March 1991 cost per hour worked for the individual insurance benefits.
Disclosure of postretirement healthcare and life insurance benefits under FASB Statement no.
The Acquisition Will Increase the Company's Leverage as a Nationwide Insurance Benefits Provider
Contract notice: Insurance benefits for hospital liability (and related risks) of the national institution des invalides.
The report finds that the likelihood of working for an employer that offers any health insurance benefits increased with family income.
Japan's four major life insurance companies declined to pay out insurance benefits in 3,468 cases in fiscal 2004, ended March 31, officials at the companies said Friday.

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