Insurance is a contractual arrangement in which an individual or entity, known as the policyholder, pays a premium to an insurance company in exchange for financial protection against specified risks or losses. The insurance company, in turn, agrees to compensate the policyholder or provide benefits in case of the occurrence of covered events, such as accidents, illnesses, property damage, or other unforeseen circumstances.
The purpose of insurance is to mitigate the financial impact of potential risks or losses. It allows individuals, businesses, and organizations to transfer the risk of potential losses to the insurance company in exchange for a premium. In the event of a covered loss, the policyholder can file a claim to receive financial compensation or benefits as outlined in the insurance policy.
Insurance can come in various forms, including health insurance, life insurance, auto insurance, homeowners insurance, business insurance, and many others. Each type of insurance has its specific terms, conditions, and coverage limits, which are outlined in the insurance policy.
Overall, insurance provides individuals and businesses with a means to protect themselves from financial hardships that may arise due to unexpected events or circumstances.
Insurance Quotes
1. “It was the labor movement that helped secure so much of what we take for granted today. The 40-hour work week, the minimum wage, family leave, health insurance, Social Security, Medicare, and retirement plans. The cornerstones of the middle-class security all bear the union label.”
— Barack Obama
2. “America doesn’t have health insurance.”
— Joe Biden
3. “Social Security is an insurance policy. It’s a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we’re contributing all go into a Social Security pool, or should half go into a mandatory savings plan?”
— Laurence D. Fink
4. “There are worse things in life than death. Have you ever spent an evening with an insurance salesman?”
— Woody Allen
5. “If there is anyone dependent on your income – parents, children, relatives – you need life insurance.”
— Suze Orman
6. “Justice is the insurance which we have on our lives and property. Obedience is the premium which we pay for it.”
— William Penn
7. “A tremendous amount of needless pain and suffering can be eliminated by ensuring that health insurance is universally available.”
— Daniel Akaka
8. “I don’t want to tell you how much insurance I carry with Prudential, but all I can say is: when I go, they go too.”
— Jack Benny
9. “Actually lowering the cost of insurance would be accomplished by such things as making it harder for lawyers to win frivolous lawsuits against insurance companies.”
— Thomas Sowell
10. “Social Security is not a retirement savings plan; it is a social insurance program. It’s a contract that says, as a society, we will look out for you and your family when you can no longer work.”
— Jeff Bingaman
11. “Everyone should have health insurance? I say everyone should have health care. I’m not selling insurance.”
— Dennis Kucinich
12. “Insurance – an ingenious modern game of chance in which the player is permitted to enjoy the comfortable conviction that he is beating the man who keeps the table.”
— Ambrose Bierce
13. “If it’s really so wonderful that both partners have to work to make a living to pay for their house, for health insurance, someone is obviously going to get the short end of the stick.”
— Eric Braeden
14. “An independent Scotland could afford pensions full stop – after all, it is our taxes and national insurance contributions that fund them now.”
— Nicola Sturgeon
15. “Unemployment insurance, abolishing child labor, the 40-hour work week, collective bargaining, strong banking regulations, deposit insurance, and job programs that put millions of people to work were all described, in one way or another, as ‘socialist.’ Yet, these programs have become the fabric of our nation and the foundation of the middle class.”
— Bernie Sanders
16. “My first job was a commercial for a Swiss insurance company. It was an eight-minute short with a proper story arc, and it ended up getting a spot at Cannes Lions; I was lucky to avoid the commercials where you’re their puppet.”
— Charlie Heaton
17. “Women tend to need the healthcare system more because we bear children. Insurance companies – not all of them, but many of them – ‘gender-rate.’ Women may pay 40% more for their health insurance than men do.”
— Gloria Steinem
18. “The time after college and before music was really rough. I couldn’t afford food. I was eating bread and butter for five months. Living in New Orleans, I couldn’t afford to take care of myself. I had no health insurance.”
— Benjamin Booker
19. “Your credit score affects the interest rates you’re offered on credit cards and loans, can be used to vet your job application, and in some states may influence your insurance premiums.”
— Suze Orman
20. “I’ll tell you who I really like – the lawyer Imran Khan. I did my dissertation on stop-and-search powers, and I put in loads of quotes from him. Years later, when I was selling insurance over in Harley Street, he rang up and asked for insurance. He told me his name, and I asked him if he was the lawyer, and he said yes.”
— Adeel Akhtar
21. “Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen’s compensation, health care benefits, welfare, you name it.”
— Meg Whitman
22. “In order for Obamacare’s cost structure to work, millions of Americans must sign up to pay inflated prices; that would help pay for the subsidies to cover insurance company costs on those with pre-existing conditions.”
— Ben Shapiro
23. “We have all these politicians that claim they’re pro-life and that say women should not be able to get abortions and all this other stuff… there’s nothing more pro-life than helping a woman who wants to have a child have a child. Then I realized that health insurance doesn’t cover IVF.”
— Remy Ma
24. “My mom sent me money for a car, but the cops impounded it because I had no insurance.”
— Martin Henderson
25. “The first four and a half years was me in the studio every day, writing songs for other people. I had jobs, too – eleven jobs. I worked at Kinko’s, Fatburger, Subway – I was a sandwich artist – and I was a claims processor at Allstate Insurance.”
— Frank Ocean
26. “As an entrepreneur, I knew that if my company failed, I could always try again. So I often felt that the only real risk of true financial ruin came from the possibility of a serious illness that either exceeded my insurance plans lifetime limits or was not covered due to rescission.”
— Eric Ries
27. “We try to create a situation where we’re the casino. It’s like how an actuary would set insurance rates. Predictability, predictability, predictability. What’s the path to least risk? What’s the greater chance of getting some return on this asset?”
— Billy Beane
28. “When I left the WWF after SummerSlam ’93, I didn’t leave there thinking this is the end of my career. A couple of months later, when the neck injury took place and everything and I had that conversation with the doctor, I took the insurance and I got out of the ring.”
— Ted DiBiase Sr.
29. “Our strength in finance has led us to set up an international financial centre with medium and long-term objectives, especially to develop Islamic financial and insurance services.”
— Hassanal Bolkiah
30. “Any that is why I think any kind of a stimulus package is going to have to help people who are without work, without a job, help them have health insurance.”
— John Breaux
31. “Fun is like life insurance; the older you get, the more it costs.”
— Kin Hubbard
32. “Reducing health care costs for families requires increased competition in health insurance.”
— Charles Boustany
33. “Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history.”
— Dwight D. Eisenhower
34. “Without health insurance, getting sick or injured could mean going bankrupt, going without needed care, or even dying needlessly.”
— Jan Schakowsky
35. “If you’re healthy, if you don’t get sick much, if you don’t go to the doctor much or use your health insurance much, you are a genetic lottery winner. It has nothing to do with the way you live, nothing to do with doing the right things. It’s just sheer luck, and you are gonna pay for that.”
— Rush Limbaugh
36. “Unemployment insurance is a pre-paid vacation for freeloaders.”
— Ronald Reagan
37. “Simply by not owning three medium-sized castles in Tuscany I have saved enough money in the last forty years on insurance premiums alone to buy a medium-sized castle in Tuscany.”
— Ludwig Mies van der Rohe
38. “I have nightmares that I’m going to wake up, and everyone’s driving a Prius and living in a condo, and we’re all getting health insurance.”
— Kid Rock
39. “Money is catching up to the technological trends transforming all aspects of society and business; entertainment, insurance, health-care, gaming, leisure, retail – all commercial and social verticals are going digital – including money itself.”
— Max Keiser
40. “The trade union movement represents the organized economic power of the workers… It is in reality the most potent and the most direct social insurance the workers can establish.”
— Samuel Gompers
41. “My dad was in the army. World War II. He got his college education from the army. After World War II he became an insurance salesman. Really, I didn’t know my dad very well. He and my mother split up after the war. I was raised by my maternal grandmother and grandfather, and by my mother.”
— Al Pacino
42. “For almost seventy years the life insurance industry has been a smug sacred cow feeding the public a steady line of sacred bull.”
— Ralph Nader
43. “When I worked at Microsoft, I got to go and visit a bunch of different companies. Probably a hundred different companies a year. You’d see all the different ways they’d work. The guys who did Ventura Publisher one day, and then United Airlines the next. You’d see the 12 guys in Texas doing Doom, and then you’d go see Aetna life insurance.”
— Gabe Newell
44. “Before Medicare, nearly half of American seniors were forced to go without coverage because insurance companies were reluctant to insure them – making the chances of having health insurance as a senior the same as getting tails on a coin flip.”
— John B. Larson
45. “Your FICO score is an “I love debt” score. You’re going to pay a bazillion dollars in interest to keep your FICO score up in order to have lower homeowner’s and car insurance rates.”
— Dave Ramsey
46. “There’s definitely evidence that capitalism at its most ruthless rewards psychopathic behavior. When you look at the worst corners of the American health insurance industry or the sub-prime banking market, it really feels like the more psychopathically someone behaves, the more it’s rewarded.”
— Jon Ronson
47. “I didn’t want to be selling insurance at 40, wondering what would it have been like to do stand-up.”
— Steven Wright
48. “It is not good not to have health insurance; that leaves the family very vulnerable.”
— Elizabeth Warren
49. “People have criticized me for seeming to step out of my professional role to become undignifiedly political. I’d say it was belated realization that day care, good schools, health insurance, and nuclear disarmament are even more important aspects of pediatrics than measles vaccine or vitamin D.”
— Benjamin Spock
50. “We also have to make sure our children know the history of women. Tell them the rotten truth: It wasn’t always possible for women to become doctors or managers or insurance people. Let them be armed with a true picture of the way we want it to be.”
— Anne Roiphe
51. “If you ask me, over time, I am a believer in the Indian financial saving story getting stronger; a lot more savers are moving money away from gold and real estate into banks, mutual funds, insurance and equities.”
— Uday Kotak
52. “Reasoning based on cost has been strenuously resisted; it violated the Hippocratic Oath, was associated with rationing, and derided as putting a price on life… Indeed, many physicians were willing to lie to get patients what they needed from insurance companies that were trying to hold down costs.”
— Ezekiel Emanuel
53. “Quality child care, health insurance coverage, and training make it possible for former welfare recipients to get, and keep, jobs.”
— Mel Carnahan
54. “It wasn’t until I was injured at the gym – resulting in an emergency room visit and bill of $4,000 – that I realized the cost of forgoing health insurance. I was fine, but it took me more than a year to pay off that bill. That hurt worse than the injury itself.”
— Sharice Davids
55. “The majority of Americans receive health insurance coverage through their employers, but with rising health care costs, many small businesses can no longer afford to provide coverage for their employees.”
— Jim Ryun
56. “You don’t train someone for all of those years of medical school and residency, particularly people who want to help others optimize their physical and psychological health, and then have them run a claims-processing operation for insurance companies.”
— Malcolm Gladwell
57. “Each State has its own health insurance mandates, and some of them are good, but there are about 1,800 of them all across the Nation, including provisions for acupuncturists, massage therapists, and hair replacements.”
— Timothy Murphy
58. “Who’s paying the million bucks? The insurance company. We’ve been trying for years to get the insurance industry to say to the gun industry, We won’t insure you unless you have policies that will reduce the likelihood of guns falling into the wrong hands easily.”
— Michael D. Barnes
59. “The next five months are grim ones. I always feel sorry to have the summertime change, with the dark evenings closing in mid-afternoon, and will try to lay in some physical comforts these months – the best insurance against gloominess for me.”
— Sylvia Plath
60. “I will never turn Medicare into a voucher. No American should ever have to spend their golden years at the mercy of insurance companies. They should retire with the care and dignity they have earned.”
— Barack Obama