INSURANCE

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does insurance mean? 

• INSURANCE (noun)
  The noun INSURANCE has 3 senses:

1. promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

2. written contract or certificate of insurance

3. protection against future loss

  Familiarity information: INSURANCE used as a noun is uncommon.

 Dictionary entry details 

• INSURANCE (noun)

Sense 1

Meaning:

Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("insurance" is a kind of...):

protection; security (defense against financial failure; financial independence)

Hyponyms (each of the following is a kind of "insurance"):

assurance (a British term for some kinds of insurance)

automobile insurance; car insurance (insurance against loss due to theft or traffic accidents)

business interruption insurance (insurance that provides protection for the loss of profits and continuing fixed expenses resulting from a break in commercial activities due to the occurrence of a peril)

coinsurance (insurance issued jointly by two or more underwriters)

fire insurance (insurance against loss due to fire)

group insurance (insurance that is purchased by a group (such as the employees of a company) usually at a reduced rate to individual members of the group)

hazard insurance (insurance that provides protection against certain risks such as storms or fires)

health insurance (insurance against loss due to ill health)

liability insurance (insurance that provides protection from claims arising from injuries or damage to other people or property)

life assurance; life insurance (insurance paid to named beneficiaries when the insured person dies)

malpractice insurance (insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice)

reinsurance (sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured)

self-insurance (insuring yourself by setting aside money to cover possible losses rather than by purchasing an insurance policy)

term insurance (low-cost insurance that is valid only for a stated period of time and has no cash surrender value or loan value)

Derivation:

insure (protect by insurance)

Sense 2

Meaning:

Written contract or certificate of insurance

Classified under:

Nouns denoting communicative processes and contents

Synonyms:

insurance; insurance policy; policy

Context example:

you should have read the small print on your policy

Hypernyms ("insurance" is a kind of...):

contract (a binding agreement between two or more persons that is enforceable by law)

Hyponyms (each of the following is a kind of "insurance"):

floater; floating policy (an insurance policy covering loss of movable property (e.g. jewelry) regardless of its location)

Sense 3

Meaning:

Protection against future loss

Classified under:

Nouns denoting stable states of affairs

Synonyms:

indemnity; insurance

Hypernyms ("insurance" is a kind of...):

protection; shelter (the condition of being protected)

Derivation:

insure (take out insurance for)

 Context examples 

You may be able to ask for and receive better health insurance, family time, the ability to work from home once a week, more vacation days, and other such perks.

(AstrologyZone.com, by Susan Miller)

Identified data and samples are labelled with personal identifiers such as name or identification numbers (e.g., social security or national insurance number).

(Identified Genomic Data and Samples, NCI Thesaurus)

Insurance through employers is often with a managed care plan.

(Health Insurance, NIH)

Health legal aid workers help people with issues related to getting good healthcare, and getting insurance to cover certain patients and conditions.

(Legal aid organization, NCI Dictionary)

It's insurance that helps people pay for prescription drugs.

(Medicare Prescription Drug Coverage, Centers for Medicare and Medicaid Services)

The DHHS works with state and local governments throughout the country to do research and provide public health services, food and drug safety programs, health insurance programs, and many other services.

(DHHS, NCI Dictionary)

A proprietary medical nomenclature of the American Medical Association widely used to report medical procedures and services under public and private health insurance programs.

(Current Procedural Terminology, NCI Thesaurus)

A person who helps a patient work with others who have an effect on the patient's health, including doctors, insurance companies, employers, case managers, and lawyers.

(Patient advocate, NCI Dictionary)

It was an insurance against the worst.

(His Last Bow, by Sir Arthur Conan Doyle)

This may include: • Getting financial and legal documents in order • Looking into assisted living or nursing homes • Finding out what your health insurance and Medicare will cover

(Alzheimer's Caregivers, NIH: National Institute on Aging)