Vipassana is a Dhamma term which is a combination of two words. Vi is one word, passana is the other. Here, vi refers to the three characteristics of mentality and physicality, i.e. impermanence. (anicca), unsatisfactoriness or suffering (dukkha) and no soul, no self or non ego (anatta). Passana means right understanding or realization through deep concentration, or right understanding of the three characteristics of mentality (nama) and physicality (rupa). When we practise Vipassana meditation or mindfulness meditation, the purpose is to realise, anicca, dukkha and anatta - the three characteristics of phenomena.
By realizing these three characteristics of mentality and physicality, we can exterminate every defilement such as lust, greed, desire, craving, hatred, ill will, jealousy, conceit, sloth and torpor, sorrow and worry, restlessness and remorse. Having destroyed all these defilements, we then attain deliverance or the cessation of suffering. As long as we have any of these defilements, we are sure to experience many kinds of dukkha (suffering). Defilements (kilesas) are the cause of suffering, therefore, when defilements have been destroyed, all kinds of suffering cease to exist.