Life Assured refers to the person whose life is being insured.
The person whose life is insured by an individual life policy is called life assured.
the individual(s) whose life is insured against death or critical illness under the terms of a policy.
The individual whose risks are covered by an insurance policy.
the person who's life is insured against death under the terms of a policy.
The person on whose life an assurance depends is termed the life assured. He may or may not be the owner or holder of the life assurance policy.
The person(s) whose live(s) is/ are insured. Policyholder and the life assured can be different people.
The Life Assured is the person (or persons) covered by the life insurance contract that has been taken out with the Life Company. You can take out life insurance on your own life or the life of other individuals such as your spouse or business partner, provided you can show that you have a financial interest in them. It is also possible in these circumstances to take out a joint life policy of which there are two main types; a joint-life first-death policy which pays out on the first death of one of the lives assured; and a joint-life last-survivor policy pays out on the death of the last of the lives assured.
