(an agreement by a business company or the State to provide) money because of ill health, death, loss of property etc paid in return for regular payments in advance
protection, security
Cases of word usage
1) the type, amount, of risk in an insurance policy (coverage)
2) an amount of money paid for an insurance policy; an addition to ordinary charges, rent etc (premium)
3) (something that provides) safety, freedom from danger or anxiety; something valuable, e.g. a life insurance policy, given as a guarantee for the payment of a loan or the fulfilment of a promise etc (security)
