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Life insurance is a means of providing financial security for your family in your death. Life insurance contract is relatively simple, and you agree to pay premiums on a regular basis, and the insurance company agreed to pay after the death, you set aside a sum of money to your beneficiaries. There are three life insurance part of the contract. First, the insured. This is his life is based on the insurer's policy. Followed by insurance companies. Insurer is an insurance company to cover risks. Thirdly, instead of owner. Owner and the insured person is not necessarily the same. Some people can buy life insurance policy to ensure that the other spouse lives. Who is the person obtaining the policy owner and the person's life is based on the insured's policy. When the owner and the insured person has different people, direct payments is the responsibility of the owners. Each person's life there is also a beneficiary of insurance contract. This is the person... http://financialages.com/insurance/lif...