Insured Person (Noun)
Meaning
A person whose interests are protected by an insurance policy; a person who contracts for an insurance policy that indemnifies him against loss of property or life or health etc..
Classification
Nouns denoting people.
Examples
- The insurance company is responsible for paying benefits to the insured person in the event of an accident or illness.
- In this case, the policyholder and the insured person are not the same individual.
- To receive benefits, the insured person must file a claim within a certain time frame after the loss or damage occurs.
- Before the insurance company will issue a policy, they typically require a medical examination of the insured person.
- If the insured person fails to disclose important information when applying for a policy, it could void the contract.