Insurance: meaning, definitions and examples
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insurance
[ ɪnˈʃʊərəns ]
financial protection
Insurance is a contract that provides financial protection against loss or harm. It is a way for individuals and companies to protect themselves against unexpected events.
Synonyms
coverage, protection, security.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| insurance |
Refers to a financial product purchased to provide compensation in case of certain events such as accidents, theft, or natural disasters.
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| coverage |
Generally used to describe the extent or range of insurance protection that is provided. It specifies what is included or excluded in the policy.
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| protection |
A broader term that refers to measures or actions taken to keep someone or something safe. Can be used in various contexts, not limited to financial or insurance aspects.
|
| security |
Typically used to describe measures taken to ensure safety or stability, often in terms of physical safety, information, or financial stability. It is a comprehensive and general term.
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Examples of usage
- Having insurance can help you feel more secure about your financial future.
- If you have car insurance, the company will cover the cost of repairs if you get into an accident.
business
Insurance is also a business that sells coverage in the form of policies. These policies outline the terms and conditions of the insurance agreement.
Synonyms
insurance company, insurer, underwriter.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| insurance |
Use this term when referring to the service or concept of protection against potential financial losses or risks.
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Examples of usage
- The insurance industry plays a crucial role in the economy by managing risk for individuals and businesses.
- Insurance companies compete to offer the best coverage at competitive rates.
healthcare
Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured. It helps individuals manage the high costs of healthcare.
Synonyms
health coverage, healthcare plan, medical insurance.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| insurance |
Repetition; see above. |
| medical insurance |
Covers expenses specifically related to medical treatments and healthcare services. It is similar to health insurance but may not emphasize employment or plans as much.
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| health coverage |
Specifically refers to being covered for medical expenses, emphasizing the scope and extent of medical care provided.
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| healthcare plan |
A structured program outlining the medical services and benefits provided to the insured, often through an employer or government program.
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Examples of usage
- Many employers offer health insurance as part of their benefits package.
- If you have health insurance, you can visit a doctor without worrying about the bill.
Translations
Translations of the word "insurance" in other languages:
🇵🇹 seguro
- seguro de vida
- seguro de saúde
🇮🇳 बीमा (Bīma)
- जीवन बीमा (Jīvan bīma)
- स्वास्थ्य बीमा (Svāsthy bīma)
🇩🇪 Versicherung
- Lebensversicherung
- Krankenversicherung
🇮🇩 asuransi
- asuransi jiwa
- asuransi kesehatan
🇺🇦 страхування
- страхування життя
- медичне страхування
🇵🇱 ubezpieczenie
- ubezpieczenie na życie
- ubezpieczenie zdrowotne
🇯🇵 保険 (Hoken)
- 生命保険 (Seimei hoken)
- 健康保険 (Kenko hoken)
🇫🇷 assurance
- assurance vie
- assurance santé
🇪🇸 seguro
- seguro de vida
- seguro de salud
🇹🇷 sigorta
- yaşam sigortası
- sağlık sigortası
🇰🇷 보험 (Boheom)
- 생명 보험 (Saengmyeong boheom)
- 건강 보험 (Geongang boheom)
🇸🇦 تأمين (Ta'min)
- تأمين على الحياة (Ta'min 'ala al-hayat)
- تأمين صحي (Ta'min sihi)
🇨🇿 pojištění
- životní pojištění
- zdravotní pojištění
🇸🇰 poistenie
- životné poistenie
- zdravotné poistenie
🇨🇳 保险 (Bǎoxiǎn)
- 人寿保险 (Rénshòu bǎoxiǎn)
- 健康保险 (Jiànkāng bǎoxiǎn)
🇸🇮 zavarovanje
- življenjsko zavarovanje
- zdravstveno zavarovanje
🇮🇸 trygging
- líftrygging
- sjúkratrygging
🇰🇿 сақтандыру (saqtandyru)
- өмірді сақтандыру (ömir'di saqtandyru)
- денсаулық сақтандыру (densaulyq saqtandyru)
🇬🇪 დაზღვევა (dazghveva)
- სიცოცხლის დაზღვევა (sitsots'klis dazghveva)
- ჯანმრთელობის დაზღვევა (janmrtelobis dazghveva)
🇦🇿 sığorta
- həyat sığortası
- sağlamlıq sığortası
🇲🇽 seguro
- seguro de vida
- seguro de salud
Etymology
The concept of insurance dates back thousands of years, with early forms of risk management seen in ancient civilizations. The modern insurance industry began to take shape in the 17th century, with the establishment of companies that provided coverage for various risks. Over time, insurance evolved to cover a wide range of areas, including property, health, life, and more. Today, insurance plays a crucial role in safeguarding individuals and businesses against financial losses due to unforeseen events.
See also: insurer.