Top Definition
General Definition: Engagement into a relationship or to wed with any combinations of the characteristics listed below:

1. One or both of the couple are already in a relationship, however on the chance that the two become single at the same time, the two will proceed with the agreement.

2. The two memebers are decently compatible (good friends), but they are not strictly attracted to the other.

3. One or both of the couple share the fear of not finding someone to enter into a normal engagement, perhaps later on in their life.

4. For some reason, one or both of the couple chooses not to engage into a relationship or to wed at this time, perhaps due to school, job, recent break-up, etc.

5. One or both of the couple want the psychological comfort that no matter what, the other will be there at the end if both are single at the end.

Insurance engagements generally are lighthearted verbal agreements that can mean a huge deal or nothing at all. If this agreement has a delay (as agreed upon by both), it's generally very long, such as a couple months to a couple years. These agreements are either rarely honored or their delays rarely expire for it to actually be honored (one or both of the couple may've already gotten married to other people).

Specific Definition: Engagement to wed done at a young age (college, high school or younger) agreed by two friends that has a delay of at least a couple years (when both are at least 27 years old).
-Did you hear? James and Sarah got engaged last week!

-What? They werent dating each other and Sarah doesnt really like James like that.

-Oh, it's kinda just a joke, they're going to get married when they're both 26 if they're both single at the time.

-Ah, okay, an insurance engagement.
by trollsofalabama February 11, 2011

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