What is Insurance?

Dictionary  Meaning: 

1. (noun)an course of action by which an organization or the state embraces to give a surety of remuneration to indicated misfortune, harm, sickness, or passing consequently for installment of a predetermined premium.

"numerous new borrowers take out protection against unemployment or affliction"

synonyms: assurance, repayment, reimbursement, (money related) insurance, security, surety, spread

"protection on his new auto was going to cost him £750"

2. a thing giving insurance against a conceivable projection.

"coats were held tight the back of their seats, protection against an experience with aerating and cooling"

synonyms: protection, barrier, shield, well being measure, cover, security, precautionary measure, procurement, preventive measure, in-susceptibility; ensure, guarantee; informal backstop.

"the high barrier use was viewed as a sensible protection against a third World War"


There are various types of insurance:
Some of them are health insurance,vehicle insurance , housing insurance ,...............
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INSURANCE COMPANY

Insurance is made by the insurance company.Insurance is the that is paid by the insurance company.
The fund that are collected by the insurance company.