What is swap in insurance?

Swap is a contract or an agreement in which the two parties replace the cash flows or legal responsibilities from the different financial tools. Interest rate is the most familiar type of swap. It is a contract of net payment in one or more times which is based on real or normal price and performance. Swap is a type of insurance which can protect you against the damage you face in your life. Swap has many types like interest rate, circus, equity, equity default, currency and many more. By this insurance type you can cover your damage in your business.
Every insurance can help you in covering the damage you face in your life that is providing money for the damaged things and life. If you are a middle class family and can afford the harm caused by the insurance. So everything in your life including life is very important to be insured.