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 Retirement Insurance Advisory Service, which specialises in those in or approaching retirement, is offering a pounds 50 ABTA travel voucher with every travel insurance quotation during January.
In both Colombia and Peru, where retirement insurance and annuities have higher penetration, asset/liability matching and reinvestment are major challenges.
To provide the secure income components, UTC conducted a competitive RFP process culminating in the selection of their insurance partners: The Lincoln National Life Insurance Company, Nationwide Life Insurance Company and Prudential Retirement Insurance and Annuity Company.
To safeguard his investment, the Retirement Insurance Advisory Service has launched a home contents insurance policy that specifically includes pounds 1,500 worth of cover for computers, printers and other office equipment.
Retirement products and services, including IncomeFlex Target, are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.
The gathering speed of population aging in China over the past few years fuels the growth of supplementary pension products such as corporate annuity, individual commercial retirement insurance.
The IncomeAdvantage Fund invests in a separate account under a group variable annuity issued by Prudential Retirement Insurance and Annuity Company and is designed primarily for participants who are within 10 to 15 years of retirement.
16-M) in the agency distribution firm, planning to offer Chinese clients trustworthy life and retirement insurance products, with its first offices to be opened in Beijing and Shanghai, under the deal.
Insphere Insurance Solutions(SM) is unique as a specialist in small business and middle-income market life, health, long-term care and retirement insurance.
Stable Value products are issued by either The Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Conn.

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