Indemnity
Part of speech: noun
Definition: an obligation or duty upon an individual to incur the losses of another. repayment the right of an injured party to shift the loss onto the party responsible for the loss. (insurance) a principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.
Insurance
Part of speech: noun
Definition: A means of indemnity against a future occurrence of an uncertain event.The business of providing insurance.Metaphoric: Any attempt to anticipate an unfavorable event.Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.An insurance policy
Example sentence: Justice is the insurance which we have on our lives and property. Obedience is the premium which we pay for it.