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What IS Insurance? Insurance is a  legal   agreement  between two  parties  – the insurer and the  ensured ,  also   known  as insurance  content  or insurance  policy . The insurer provides  fiscal   content  for the  losses  of the  ensured  that s he may  bear  under  certain   circumstances . Let’s  bandy  in  detail  what's insurance and how it works, the insurance  benefits , and  types . Insurance –  description  and  Meaning Insurance  content  can  be   defined  as a  contract  in the  form  of a  fiscal   protection   policy . This  policy  covers the  financial   pitfalls  of an  existent  due to  changeable   contingencies . The  ensured  is the policyholder whereas the insurer is the insurance-  fu...