What do you mean insured?

An individual or company may get an insurance policy (making them the policyholder) that protects another person or entity (who is the insured). For example, when a company buys life insurance for an employee, the employee is the insured, and the company is the policyholder.

What is the meaning of insured and insured?

As mentioned earlier, the ‘insurer’ is the one calculating risks, providing insurance policies, and paying out claims. The ‘insured,’ on the other hand, is the person (or people) covered under the insurance policy.

What is an insured person called?

An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured.

What is another word for insured?

In this page you can discover 27 synonyms, antonyms, idiomatic expressions, and related words for insured, like: safeguarded, protected, covered, warranteed, guaranteed, uninsured, underwritten, secured, assured, ensured and ascertained.

How do you use insured in a sentence?

Insured sentence exampleOverseas Orders are sent by insured airmail where possible. … Letters insured for a fixed sum are not delivered under any circumstances. … Any vehicle using public byways must be licensed and insured, properly taxed and fit for use on public roads.More items…

What is the difference between policyholder and insured?

The policyholder controls the policy, while the insured is the person whose death prompts the death benefit payout. They are usually the same person in a life insurance policy, but can occasionally be different people.Dec 9, 2021

What are the 4 types of insurance?

Different Types of General InsuranceHome Insurance. As the home is a valuable possession, it is important to secure your home with a proper home insurance policy. … Motor Insurance. Motor insurance provides coverage for your vehicle against damage, accidents, vandalism, theft, etc. … Travel Insurance. … Health Insurance.

What are the 3 main types of insurance?

Then we examine in greater detail the three most important types of insurance: property, liability, and life.

What is an example of insurance?

When you pay premiums in exchange for a policy that pays out when you crash your car in a car accident, this is an example of an auto insurance policy. When you save money in case you lose your job and are out of work, this is an example of insurance in case you lose your job.

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