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 ?
This is known in several states as the Unclaimed Life Insurance Benefits Act which was initiated by the National Conference of Insurance Legislators as a Model Act in 2011.
Veteran board member John Hoscheit proposed the indefinite tabling of the resolution that would end the insurance benefit.
The casualties who were given P400,000 insurance benefits were Teddy Nher Garcia, Mary Grace Balbuena, Rodan Diaz, Jerome Uyangueren, Elsa Acedilla, Janet Vicente, Chloe Caintic and Jay Solayao.
Documents showed the nine casualties of the said bus firm received P400,000 except for the driver Hamber Khen Despi who was given P435,000 of insurance benefit.
Following the merger, Troy Goodwin, owner of Apex Insurance Benefits LLC, is to join Hub International Ltd.
"The changed ways of working and people's increasing mobility between different countries, makes it necessary for the regulations concerning social insurance benefit payments to people working in other countries to be made simpler and more understandable," Iva said in a press release.
"Instead of struggling with unpredictable insurance premiums, employers will be able to define the amount they will provide to their employees for health and other insurance benefits and then direct their employees to an online store where they will have more options than they have had in the past."
He pointed out that the amendments include providing definition for the salary on which the social insurance benefits are calculated.
It is expected that the new system will improve the efficiency and integrity of the state's unemployment insurance benefit programme, and it is believed that it will be released in phases.
"We are delighted to provide Arabtec's employees with our healthcare insurance benefits and our signature services such as health support.
Family-owned firms experienced a sharper decline in benefit penetration between 2005 and 2012 than non-family-owned firms, with only 40 percent of these businesses offering insurance benefits in 2012 (compared with 47% in 2005).
Forty-two percent of workers also said that they have lost money each year from insurance benefits mistakes.

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