Home > Industry/Domain > Insurance

Insurance

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.

0Categories 32802Terms

Add a new term

Contributors in Insurance

Insurance >

Astigmatic power lens

Eyewear; Optometry

Lens bringing a paraxial pencil of parallel light to two separate line foci mutually at right angles and hence having vertex power in only the two principal meridians.

Astronomical telescope

Eyewear; Optometry

Compound optical system, afocal in normal adjustment, consisting of a positive objective element or group and a positive ocular element or group forming a magnified, inverted ...

Condensing lens

Eyewear; Optometry

A convex lens used to condense the illuminating beam into the patient's eye and to form a real inverted image of the retina thus illuminated.

Concave lens

Eyewear; Optometry

Lens which causes parallel incident light to diverge from a virtual focus. Also known as minus-power lens.

Abbe number

Eyewear; Optometry

Mathematical expression for determining the correction for chromatic aberration of an optical material of component.

Astigmatic difference

Eyewear; Optometry

Vertex power in the second principal meridian minus that in the first principal meridian.

Optical drive

Multimedia;

An optical drive is an electronic device used to seek, read, and write data on an optical disc. An optical drive may reside in an optical library or as a stand-alone unit.

Sub-categories