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In my view, the Christian religion is the most important and one of the first things in which all children, under a free government ought to be instructed... No truth is more evident to my mind than that the Christian religion must be the basis of any government intended to secure the rights and privileges of a free people. Preface to 1828 Dictionary
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INSU'RANCE, n. [from insure.] The act of insuring or assuring against loss or damage; or a contract by which one engages for a stipulated consideration or premium per cent to make up a loss which another may sustain. Insurance is usually made on goods or property exposed to uncommon hazard, or on lives.
Insurance company, a company or corporation whose business is to insure against loss or damage.
The act of insuring, or assuring, against
loss or damage by a contingent event; a contract whereby, for a
stipulated consideration, called premium, one party undertakes
to indemnify or guarantee another against loss by certain specified
risks. Cf. Assurance,
* The person who undertakes to pay in case of loss is termed the insurer; the danger against which he undertakes, the risk; the person protected, the insured; the sum which he pays for the protection, the premium; and the contract itself, when reduced to form, the policy. Johnson's Cyc. The premium paid for insuring property or
life.
The sum for which life or property is
insured.
A guaranty, security, or pledge;
assurance.
[Obs.]
The most acceptable insurance of the divine protection. Mickle. Accident insurance, insurance against pecuniary loss by reason of accident to the person. -- Endowment insurance or assurance, a combination of life insurance and investment such that if the person upon whose life a risk is taken dies before a certain specified time the insurance becomes due at once, and if he survives, it becomes due at the time specified. -- Fire insurance. See under Fire. -- Insurance broker, a broker or agent who effects insurance. -- Insurance company, a company or corporation whose business it is to insure against loss, damage, or death. -- Insurance policy, a certificate of insurance; the document containing the contract made by an insurance company with a person whose property or life is insured. -- Life insurance. See under Life. | ||||||||