The person, group, or property for which an insurance policy is issued. Also, the condition of having insurance. see also underinsured, uninsured motorist coverage, underinsured motorist coverage, bare, non-insured plan.
One who transfers a risk to another. The person named in the agreement of indemnity from an insurance company (or person) affording them indemnity from perils set out therein. Interchangeable with assured.
The named person as shown on the application accepted by the insurance provider. This term does not extend to any other person having a share or interest in any portion of the insured's farming operation (for example, a partnership, landlord, or any other person).
The insured, a term often used in the legal documents of your life insurance policy, refers to the person whose life is being insured. It is in the event of the death of the insured that the death benefit is paid out to the beneficiaries.
In most cases the insured is the policyowner - the person whose risk is covered by the policy. For life insurance, the insured person is the person upon whose death life insurance benefits will be paid.
(1) In the United States and Quebec, a person whose life is insured by an insurance policy (for individual life insurance policies, called the life insured in the rest of Canada). (2) In the common law provinces of Canada, the owner of an individual life insurance policy (called the policyowner in the United States and the policyholder or owner in Quebec). (For the purposes of this glossary, we have used this term as it is used in the United States and Quebec, except in the definitions of purely Canadian terms, in which cases we have made it clear that we are using the term as it is used in Canada.) | Back
The person who represents the family unit in relation to the insurance program, usually the employee whose employment makes this coverage possible. For example, if the father works and gets medical insurance from his company for himself and his wife and his children, the father is called the insured.
The Insured is the person or entity against whom the claimant seeks to recover. Only the person(s) listed as the Insured or Other Insured are included in the offers that are made to settle the case. If a person or entity is not included as the Insured or Other Insured
A person who meets the definition of insured under an insurance policy. This means that someone who is not named in the policy may be entitled to coverage if he fits the status or circumstances described in the policy's definition of insured.
Party covered by an insurance policy. In life insurance policies there is one designated insured, the person so named; or a policy can be issued to numerous insureds on a group basis. The insured persons in property and casualty policies may also include residents of the insured`s household, such as a spouse, relatives of either, and other individuals under their care, custody.
the policyholder and/or all other insured persons as listed in the policy schedule. Outpatient: surgery or medical treatment in a hospital or clinic where it is not medically necessary to occupy a bed. Policy conditions: the terms and conditions of the insurance purchased.
means the person, firm or company who is entitled to participate in the Uninsured Loss recovery service offered by the Coverholders and has paid the premium or whose Participating Agent or car insurance broker has agreed to pay the premium on their behalf.
The person, business or organization covered by an insurance policy, sometimes referred to as "you." The policy may define "insured" to include people in addition to those specifically named on the policy declarations page or page one. For example, insured may include all family members living in the household. At Foremost we prefer to think of insureds as customers — and as the most important people we know.