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What else can I help you with?
What is the difference between the insured and the owner in a life insurance policy?
The insured is the person whose life is being insured, while the owner is the person who owns the policy and has control over it. The owner can make changes to the policy and decide how the benefits are used, even if they are not the insured person.
Can an insured person also be the beneficiary on an insurance policy?
Yes, there is no bar in the insured person being beneficiary on another insurance policy.
As a beneficiary do you own the policy after insured dies?
No. You do not own the policy. You will only receive the policy proceeds after the insured person dies.
Can a person be insured in your car and not be on your policy?
yes
Who is covered under homeowners insurance?
A "Named Insured" or "Insured" should defined by the policy and listed in the Definitions section of your policy. Generally it is the person listed on the declarations page, and permanent residenants of your household.
Who benefits from a life insurance policy?
The beneficiary benefits financially from the life insurance policy by receiving the proceeds of the policy. The beneficiary is the person(s) or entity who is designated by the insured person to receive the proceeds from the life insurance policy upon the death of the insured person. The insured person also benefits from knowing (peac eof mind) they have secured financial protection for the beneficiary in case the insured person dies.
If i am insured and drive a vehicle belonging to someone that is not insured am i covered through my policy?
No. * i say Depends on your policy. Call your insurance person.
What does Additionally Insured on a Vehicle Insurance Policy mean?
The person who took out the policy is the main or policyholder. Any persons added to the policy are considered additionally insured.
A person who is insured is called?
The "insured" refers to a person or persons who are listed on the insurance policy for whom a premium is being collected.
Should the person who has ownership rights in an insurance policy and the insured be relatives?
The question does not really involve "should". The direct answer is "no". Using life insurance as an example, the owner of the policy is often the person who pays the premium. The insurance contract gives the owner various rights, such as to initially designate the beneficiary, change the beneficiary, pledge the policy as security for a loan, and other acts. The insured is the person whose life is, well, insured. Stated otherwise, this means that when the insured dies, the insurance company generally pays the death benefit to the beneficiary.
Person who is the holder of an insurance policy?
The person can be called Policy Holder,Insured, Life Assured as the case may be.
What is a person covered by an insurance policy?
The named insured(s).
