assured
Definition
Legal owner or beneficiary of a life insurance policy. He or she has the control (subject to some exceptions) of the sums realized from proceeds of the policy at its maturity, or upon death of the person covered under the policy.
assured is in the Corporate, Commercial, & General Law and General, Marine, & Life Insurance subjects.
assured appears in the definitions of the following terms: endowment insurance with profits, endowment insurance, prudence concept and negotiability
assured appears in the other term: assured tenancy
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