assured

Assured is used to refer to a person who is protected by insurance coverage against any loss or damage mentioned in the insurance policy purchased from an insurance company or an underwriter . In the context of insurance, the terms “ insured ” and “assured” are generally used interchangeably as the person for whose benefit the policy is written and to whom the loss will be payable. But, where a wife insures her husband’s life for her own benefit and the husband has no interest in the policy, the wife is the “assured,” and the husband is the “insured.”

[Last reviewed in January of 2025 by the Wex Definitions Team ]

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