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WordNet-Online
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Definitions from the WebTerm: InsuranceDescription:Insurance refers to a contractual agreement between an individual or an entity, known as the policyholder, and an insurance company. It is a financial arrangement designed to protect against potential loss or damage in exchange for regular premium payments. Insurance policies are available for various aspects of life, property, and health, providing coverage and compensation in case of specified events or risks. Senses and Usages:1. Noun - General Insurance:General insurance provides coverage for a wide range of non-life risks. It includes various types of insurance such as automotive insurance, property insurance, liability insurance, and travel insurance. Example Sentence:You should consider getting general insurance for your new car, not only to protect yourself but also to comply with legal requirements in your country. 2. Noun - Life Insurance:Life insurance provides financial security and support to the beneficiaries of the policyholder in case of the insured person's death. It ensures that loved ones are financially protected and provided for after the policyholder's demise. Example Sentence:He purchased a comprehensive life insurance policy to ensure his family's financial stability and their ability to maintain their current lifestyle if anything were to happen to him. 3. Adjective - Insured:The term "insured" is used to describe individuals, entities, or property that are covered by an insurance policy. Example Sentence:The insured property is protected against damage from fire, theft, and natural disasters. 4. Verb - Insure:The verb "insure" refers to the act of arranging or obtaining an insurance policy for oneself, someone else, or property. Example Sentence:Before traveling abroad, you should insure your valuables to mitigate any potential financial loss in case of theft or damage. Possible Related Products: | ||||
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