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What is Assured?
Assured are usually the owners of insurance policies. They can also be the insured and can also be the assured. This means that they can be the owners of the insurance policies as well as the ones that are insured (protected) in the insurance policies.
However there may be situations where the assured and insured are different parties. Such a situation is considered third party insurance policies such as the wife (assured) buying an insurance policy on the husbands life (insured). Another example is when a parent (assured) purchases a child's education policy on the child's life (insured).
Assured are usually the owners of insurance policies. They can also be the insured and can also be the assured. This means that they can be the owners of the insurance policies as well as the ones that are insured (protected) in the insurance policies.
However there may be situations where the assured and insured are different parties. Such a situation is considered third party insurance policies such as the wife (assured) buying an insurance policy on the husbands life (insured). Another example is when a parent (assured) purchases a child's education policy on the child's life (insured).