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The Republic of Panama, situated at the southern-most region of Central America, is considered as the transcontinental country connecting the north and south part of America. Panama shares its land boundary with Costa Rica to the north-west, Colombia to the south-east and coastline with the Caribbean Sea to the north and the Pacific Ocean to the south. Panama.. More life insurance articlesLife insurance (life assurance in British English) is a type of insurance. As in all insurance, the insured transfers a risk to the insurer. The insured pays a premium and receives a policy in exchange. In this contract, the risk assumed by the insurer is the risk of death of the insured. < p>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.The re are three parties in a life insurance transaction; the insurer, the insured, and the owner of the policy (policyholder), although the owner and the insured are often the same person. For example, if Qwanda buys a policy on his own life, he is both the owner and the insured. But if Wanda, his wife, buys a policy on Qwanda's life, she is the owner and he is the insured. The owner of the policy is called the grantee (he or she will be the person who will pay for the policy).
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