Insured

In insurance terminology, the insured is the person or entity whose life, health, or property is protected by a policy. The insured has coverage rights under the policy and may be named in the policy documents as the person whose risks are covered. The relationship between the insured and the policyholder can vary: the policyholder is the owner of the contract who pays the premium, and the insured may be the same person or a different one.

In life and health insurance, the insured is the individual whose life or health is the basis of the risk; the policy may designate beneficiaries who receive proceeds upon death or a covered event. In property and casualty insurance, the insured is the person or entity whose property is protected against loss. The policy may list additional insureds—other persons or organizations covered by the policy—whose interests are protected as well. A claim is evaluated according to policy terms, exclusions, limits, and deductibles; coverage applies to losses within the insured amount up to those limits.

Policy documents use the term insured in statements such as "the insured must notify the insurer of loss." The exact scope of coverage depends on the policy language; it is possible for multiple individuals or entities to be insured under a single policy, and for different kinds of coverage to apply to different insureds.