Full form: Insurance
Meaning: “an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.”
Common Abbreviations: insur., I, ins. or ince..
Insurance – Meaning & Definition
This particular word is used as a noun within a sentence. Investopedia defines insurance as a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. Insurance is synonymous with security, assurance or cover.
For example,
1. My manager was describing many insurance policies regarding life insurance.
2. Health care is not about insurance! Health care’s about getting treatment. (P. J. O’Rourke)
Check Out: Abbreviation for Reimbursement
Suitable Ways to use Ins. for Insurance
You might have seen this abbreviation for insurance on a business invitation card or on a nameplate to refer any insurance company.
This abbreviation is reserved for the business sectors like in banking, accounting or on any legal agreement for the reference of any insurance policy. It can also be used in the areas where space is limited, such as while writing shorthand notes, headlines or newspaper headings.
However, you should avoid writing this abbreviation in academic areas like in general prose or essays.
• Ins. market
The plural term for this abbreviation is ins’s..
What Did You Learn?
ins. is used as the most common abbreviation for insurance. The plural term can be ins’s..