Whole Life insurance

Chosing a life insurance company is a hard work.

Because there are 5/6 top companies in Sri Lanka.

Ceylinco, CTC Eagle, Janashakthi, Sri Lanka

Insurance & many more. I go for Sri Lanka

Insurance because it has a good financial background.

It is also a local company, Investing my mony in

Sri Lanka is good for local economy. Let's take a look

at the term "Life Insurance".

Life insurance Life insurance is a contract between the

policy owner and the insurer, where the insurer

agrees to pay a sum of money upon the occurrence

of the insured's death. In return, the policyowner

(or policy payor) agrees to pay a stipulated amount

called a premium at regular intervals.As with most

insurance polices, life assurance is a contract

between the insurer and the policy owner

(policyholder) whereby a benefit is paid to the

designated Beneficiary (or Beneficiaries) if an

insured event occurs which is covered by the

policy. To be a life policy the insured event must

be based upon life (or lives) of the people name in

the policy.Parties to contractThere are three

parties to a life insurance transaction: the insurer,

the insured, and the policy owner (policy holder),

although the owner and the insured are often the

same person.