1) Coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract. 2) Any means of guaranteeing against loss or harm.
There are so many things in life that we need protection from, and unfortunately, for most things we have to handle it as we go, but there are ways to protect yourself and the ones you love from financial hardship and suffering should you become critically ill, disabled and in the eventuality of death.
Start Here:
If you are worried about your family's financial stability, after you pass away, then think about Life Insurance. 
If you want mortgage insurance that won't disappear when your mortgage is paid off, and which you control, then think about Life Insurance as Mortgage Insurance.
If you are worried about what would happen if you become ill and cannot work, then think about Critical Illness Insurance.
If you are worried about what would happen if you were injured and confined to a wheelchair or worse, then think about Disability Insurance.
If you are going on vacation outside of Canada and want to be sure you are covered if you need medical attention, then you need Travel Insurance.
If you are not covered by a Group Plan and want coverage that OHIP does not provide, then you need Health & Dental Insurance.
If you are a business person who needs a loan guarantee, or needs to be sure there is money to replace a key person should the need arise, then you need Small Business Insurance.
If you are an employer, you should read about Group Insurance.