insurance

[in-shoor-uhns, -shur-]

noun

1. the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved.

2. coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract.

3. the contract itself, set forth in a written or printed agreement or policy.

4. the amount for which anything is insured. insured.

5. an insurance premium.

6. any means of guaranteeing against loss or harm.

   Taking vitamin C is viewed as an insurance against catching colds.

adjective

1. of or relating to a score that increases a team's lead and insures that the lead will be held if the opposing team should score once more.

   The home run gave the team an insurance run, making the score 7-5.

insurance

/ ɪnˈʃʊərəns, -ˈʃɔː- /

noun

1. 1. the act, system, or business of providing financial protection for property, life, health, etc, against specified contingencies, such as death, loss, or damage, and involving payment of regular premiums in return for a policy guaranteeing such protection

   2. the state of having such protection

   3. Also called: insurance policy. the policy providing such protection

   4. the pecuniary amount of such protection

   5. the premium payable in return for such protection

   6. ( as modifier )

      insurance agent

      insurance broker

      insurance company

2. a means of protecting or safeguarding against risk or injury

Other Word Forms

• noninsurance noun
• preinsurance noun
• proinsurance adjective

Word History and Origins

Origin of insurance¹

First recorded in 1545–55; insure + -ance

Example Sentences

Earlier this month, the Burbank-based nonprofit filed for Chapter 7 bankruptcy in Delaware court, saying it had $284,823 in liabilities, which include staff member salaries, insurance payments and credit card debt.

Read more on Los Angeles Times

The sticking point has been a refusal by Republicans to include language in the bill to address expiring subsidies that make health insurance affordable for 24 million Americans.

Read more on Barron's

Individuals who are becoming eligible for Medicare, such as when they turn 65 or when they lose qualifying health insurance beyond their 65th birthday, have special enrollment periods.

Read more on MarketWatch

Businesses also pay 15% NI on expenses and benefits they give to their staff - such as company cars or health insurance.

Read more on BBC

And then there are those super-rich with their own apocalypse insurance plans.

Read more on BBC

Related Words

• allowance 
• coverage 
• guarantee