Definition: A means of indemnity against a future occurrence of an uncertain event.
Alright class, settle down now, let’s take a look,
At a word that’s important, and needs a good book!
We’re talking about “insurance,” a tricky phrase you see,
Let's break it down together, for you and for me.
The dictionary gives us this: "A means of indemnity against a future occurrence of an uncertain event."
That sounds like a mouthful, I know it can be! But let’s unpack it gently, you agree?
“Indemnity” – think of it as a shield, a defense,
Protecting you from problems, with careful pretense.
It's about making things right, when something goes astray,
Helping you recover in a brighter day.
"Future occurrence" - a chance that might be,
Something unexpected, for all to see.
Like rain or a storm, or maybe a fall,
Events we can’t predict, standing tall!
“Uncertain event” – this means it's unknown,
A possibility lurking, seeds yet sown.
It could be an accident, a broken-down car,
Something that might happen, no matter how far.
So basically, insurance is like a safety net, you see,
Preparedness and protection for you and me!
It helps to cover costs when things go wrong,
Giving you peace of mind, strong and long.
Does that make sense? Do you have any questions at all? Let’s discuss it further…