Insurance (noun)

1. A means of being protected against a possible eventuality, especially by the payment of regular contributions to a fund.
2. A contract under which one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
3. The business of providing such protection.

Origin:

Late middle english: from old french enseurance, from enseurer "make sure", based on latin securus "free from care".

Examples:

1. He has insurance for his car.
2. She has health insurance through her employer.
3. The insurance company denied the claim.
4. She works in the insurance industry.
5. The insurance policy covered the damage.