assurance

Definitions

General English

Accounting

  • noun a type of insurance which pays compensation for an event that is certain to happen at some time, especially for the death of the insured person.

Economics

  • noun an agreement that in return for regular payments, a company will pay compensation for loss of life, or will make a payment if the insured person lives to a certain age.

Law

  • noun an insurance agreement that in return for regular payments, one party will pay another party compensation for injury or loss of life

Real Estate

  • noun insurance against something that is certain to happen, e.g. death, rather than against something that might happen, e.g. damage to property
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