the person, group, or organization whose life or property is covered by an insurance policy.
What is an insured person called?
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.
Who is insured person in insurance?
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 is the meaning of whether residing with insured person?
Insured Person means the person named in the Policy Schedule, who has a permanent place of residence in India and for whom the insurance is proposed and appropriate premium paid.
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