mutual insurance

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noun

insurance in which those insured become members of a company who reciprocally engage, by payment of certain amounts into a common fund, to indemnify one another against loss.

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Words nearby mutual insurance

Mutual Assured Destruction, mutual fund, mutual impedance, mutual inductance, mutual induction, mutual insurance, mutual insurance company, mutualism, mutuality, mutualize, mutually

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use mutual insurance in a sentence

You are asked to engage in the great work of mutual education, which must be for this country the system of mutual insurance.
Woman in the Nineteenth Century|Margaret Fuller Ossoli
We do not blame Odd-fellows, Good-fellows, Druids, or any other association for acting as mutual insurance companies.
Secret Societies|David MacDill, Jonathan Blanchard, and Edward Beecher
As mutual insurance societies, they are irresponsible, and more liable to corruption, just because they are secret.
Secret Societies|David MacDill, Jonathan Blanchard, and Edward Beecher
They undertake a multitude of risks which were unknown to the primitive mutual insurance associations.
Harmonies of Political Economy|Frdric Bastiat

Numbers of the citizens came into his scheme; and a large "Mutual Insurance Company," was immediately formed.
The Life of Benjamin Franklin|Mason Locke Weems

British Dictionary definitions for mutual insurance

mutual insurance

noun

a system of insurance by which all policyholders become company members under contract to pay premiums into a common fund out of which claims are paidSee also mutual (def. 3)

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012