Hypertext Webster Gateway: "insurance"

From Webster's Revised Unabridged Dictionary (1913) (web1913)

Insurance \In*sur"ance\, n. [From {Insure}.]
1. The act of insuring, or assuring, against loss or damage
by a contingent event; a contract whereby, for a
stipulated consideration, called premium, one party
undertakes to indemnify or guarantee another against loss
by certain specified risks. Cf. {Assurance}, n., 6.

Note: The person who undertakes to pay in case of loss is
termed the insurer; the danger against which he
undertakes, the risk; the person protected, the
insured; the sum which he pays for the protection, the
premium; and the contract itself, when reduced to form,
the policy. --Johnson's Cyc.

2. The premium paid for insuring property or life.

3. The sum for which life or property is insured.

4. A guaranty, security, or pledge; assurance. [Obs.]

The most acceptable insurance of the divine
protection. --Mickle.

{Accident insurance}, insurance against pecuniary loss by
reason of accident to the person.

{Endowment insurance} or {assurance}, a combination of life
insurance and investment such that if the person upon
whose life a risk is taken dies before a certain specified
time the insurance becomes due at once, and if he
survives, it becomes due at the time specified.

{Fire insurance}. See under {Fire}.

{Insurance broker}, a broker or agent who effects insurance.


{Insurance company}, a company or corporation whose business
it is to insure against loss, damage, or death.

{Insurance policy}, a certificate of insurance; the document
containing the contract made by an insurance company with
a person whose property or life is insured.

{Life insurance}. See under {Life}.

From WordNet (r) 1.7 (wn)

insurance
n 1: promise of reimbursement in the case of loss; paid to people
or companies so concerned about hazards that they have
made prepayments to an insurance company [syn: {coverage}]
2: written contract or certificate of insurance; "you should
have read the small print on your policy" [syn: {policy},
{insurance policy}]
3: protection against future loss [syn: {indemnity}]


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