insurance

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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 ?
The second phase of pension reform (called large pension reform) occurred in 2013, when there were changes in the retirement insurance system (the second pillar of the pension system), legislative changes to tax laws, and a reduction in the number of tax returns claiming deductions for pension savings (Fig.
In 2011, the Bulgarian retirement insurance companies had a total turnover of BGN 80.1 M, and a total profit of BGN 22.7 M, up by 14% compared with 2010.
For detailed information on comprehensive medical, disability, term life, business overhead expense, hospital indemnity, accidental death and dismemberment and supplemental retirement insurance products, as well as limitations and exclusions, contact Business Planning Concepts, Inc.
The Retirement Insurance Advisory Service, which also provides policies for those approaching retirement, has launched a new home-contents scheme.
The provisions that now have to be approved during the Parliament's May 3-7 plenary session in Strasbourg, look forward to a single Statute for all MEPs whose monthly income (set at Euro 5,677.22), allowances, health and retirement insurance will be covered by the EU Budget to which they contribute in "conditions that are identical to" to those of European civil servants (see also article on the Statute for MEPs' assistants in this Section).The draft Decision was amended during the Council so as to cater for the concerns of Denmark and Sweden, backed by Finland, which are reluctant to see their MEP avoid paying national taxes.
Conversely, future administrations wouldn't dare tamper with a system that people felt they had paid for out of their own paychecks, like retirement insurance. "With those taxes in there," FDR said, "no damn politician can ever scrap my social security program"
The hole-in-one bonus is open to those taking home insurance with the Retirement Insurance Advisory Service.
public opinion favored modelling crucial aspects of a new medical insurance program for the elderly on the preexisting Social Security program of retirement insurance. As Jacobs (1993, 201) explains:
Contract notice: staff retirement insurance contract
Retirement products and services are provided by PICA, Newark, New Jersey, USA or its affiliates; reinsurance contracts are issued by either Prudential Retirement Insurance and Annuity Company, Hartford, Connecticut, or PICA and both are wholly owned subsidiaries of Prudential Financial.
Prudential Retirement has partnered with Wells Fargo to make Prudential Retirement Insurance and Annuity Company's Prudential IncomeFlex Target (Prudential IncomeFlex) product available to Wells Fargo's 3,000 defined contribution (DC) plans which cover over three million individuals.
Insphere Insurance Solutions is a distribution company that specializes in meeting the life, health, Medicare, long-term care and retirement insurance needs of small business and middle-income individual and families through its portfolio of products from nationally recognized insurance carriers.

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