An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium
Examples:
Many new borrowers take out insurance against unemployment or sickness
Synonyms:
Indemnity
Indemnification
(financial) protection
Security
FAQ's
Is it insurence or insurance?
The correct word is insurance
How to pronounce insurance?
The correct pronunciation is ɪnˈʃʊərəns
What does insurance mean?
An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium