After the Nugegoda property was purchased in 1985, a vision began to grow for a training institute that would prepare workers to go out and plant churches. About that time a gift of five hundred dollars came from Paul Risser's church, which was partially used to buy chairs for students to sit on. The remainder of the money was set aside to support the students who would come. On March 15, 1986 LIFE Bible Institute was opened with six students. Leslie, Belen Keegel along with George Niranjan were the first teachers. All of the six original students are now in leadership positions as Supervisors or Board Members with the Foursquare Gospel Church of Sri Lanka.

As the Bible Institute grew, Foursquare Missions International sponsored the building of a facility, which is now the first floor of the present Institute building. The second floor was sponsored by Pastor Jack Hayford during his visit to Sri Lanka in 1989. By 1990 the current building was completed. In 1996 the Institute was accredited with the Asian Theological Association.

LIFE Bible Institute has trained more than 250 students and an amazing percentage - about 95 % - are active in Christian ministry. The majority are working in Foursquare Churches but some have also been trained for work in other churches and denominations. The students are told that they must be willing to "go anywhere" when they are finished their training and by the time the one or two years program is finished they have a target area in mind. Most of these target areas are places where no evangelical churches are in existence.  Finances for the Institute continue to operate on the "faith" principle - trusting God to provide.