Definitions (2)

2. Mortgage: A term that can have several meanings in the context of insurance. A contribution can be the portion of a loss paid by each insurer, when the same loss is covered by two or more insurers. Or the term can mean the portion of a premium paid by the insured. The term can also mean the portion of the loss paid by the insurer under coinsurance.

Use contribution in a sentence

When I was going over my contractual agreement with my new employer, he mentioned that there will be a significant contribution to my 401k after 5 years of working for him.

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You may want to make a contribution to a political candidate if he is in favor of things that can help your business.

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His contribution to the team was absolutely amazing and we were really glad to have him with us for the rest of the season.

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Individual Retirement Account defined benefit plan