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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.
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self-amortising mortgage
Financial services; General Finance
Mortgage whose entire principal is paid off in a specified period of time with regular interest and principal payments.
speculative motive
Financial services; General Finance
A desire to hold cash in order to be poised to exploit any attractive investment opportunity requiring a cash expenditure that might arise.
aperture
Astronomy; General astronomy
The size of the primary optical surface of an astronomical instrument (telescope), usually given in inches, centimeters, or meters. In the case of a reflecting telescope, the ...