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Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.

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Insurance > General insurance


Insurance; General insurance

A payment to someone who has suffered injury, damage or loss, esp in the form of a promise to pay for it.

abandonment clause

Insurance; Commercial insurance

A clause in a property insurance contract that, under certain circumstances, permits the property owner to abandon lost or damaged property and still claim a full settlement ...

Insurance Institute of America (IIA)

Insurance; General insurance

An organization which develops programs and conducts national examinations in general insurance, risk management, management, adjusting, underwriting, auditing and loss control ...

Life Insurance

Insurance; General insurance

Term for long term insurance of life, consisting in reception of sum of money after years, in case of death basically, and based on installements paid for years.

insurance policy

Insurance; General insurance

It's policy applied bu Insurance Companies, for selling their products, can either refer to monthly fees, or insurance pacjets, on sales of cars, health insurance, pension etc. ...

Cold Feet Insurance Coverage

Insurance; General insurance

Insurers are getting in the wedding business, offering some peace of mind for brides and grooms as the average cost of getting married climbs. Insurers are now covering cold feet. ...

Proposal Form

Insurance; General insurance

Definition: Proposal form is the most important and basic document required for life insurance contract between the insured and insurance company. It includes the insured's ...