Insured is a generic term that refers to any person or entity legally entitled to receive the benefits of an insurance policy, typically claim payments. Insurers make payments to insureds after they experience a covered loss, damage, or an injury that qualifies for payment under the policy’s terms.
What’s 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.
Who is insurer or insured?
Insured is the person who is covered against risk. On the other hand, the insurer is the company that is providing coverage. It is a service that an insurer provides under a particular insurance policy against a premium paid by the policyholder.
What are insured people called?
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.
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…
Who does the insured include?
In insurance, the insured is the person or business that is covered by an insurance policy.
Is the insured the policyholder?
A policyholder is the person who takes out an insurance policy, known alternatively as the named insured. The policyholder is the only one who can request changes or cancel an insurance policy, but others may receive coverage under the policy.
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.
Whats the difference between insure and ensure?
“To ensure” means to make certain. “To insure” means to protect against risk by regularly paying an insurance company.