Definition of self-insurance in English:

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self-insurance

noun

[mass noun]
Insurance of oneself or one’s interests by maintaining a fund to cover possible losses rather than by purchasing an insurance policy.
Example sentences
  • Here in Australia, a lot of businesses tend to see credit insurance as a choice of self-insurance, and a cost.
  • That said, self-insurance can result in dramatic savings.
  • Choosing a fee-based adviser is a form of self-insurance if you like.
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