An analysis of nature of different kinds of life insurance With special reference to viewpoints of Imam Khomeini

Life insurance is a contract on the basis of which the insurer as a quid pro quo for receiving certain amount of premium undertakes to pay a certain amount of money to the insured party or his/her advocate after his/her death or after a specific period of time.Life insurance may be related to the danger of the death of the insured or to the survival of the insurer. The other type of life insurance is a combination of both. However the number of people involved in a life insurance may be up to four: insurer, insured, user and beneficiary. People can manage their expenditures and thus, by paying regular premiums to insurance companies, collect an asset for the future expenses of their children education, their marriage, dowry, construction of houses….