Kindlustatav

Kindlustatav refers to the individual or entity whose life, health, property, or liability is covered by an insurance policy. In essence, it is the subject of the insurance contract. If a person takes out life insurance on themselves, they are the kindlustatav. If a business insures its building against fire, the building is the kindlustatav. The kindlustatav bears the risk that the insurance policy is designed to mitigate. The insurer agrees to compensate the kindlustatav, or a designated beneficiary, for a specified loss or event in exchange for premium payments. The terms and conditions of this coverage are detailed within the insurance policy document, outlining the scope of protection and the obligations of both parties. Understanding who or what is kindlustatav is fundamental to comprehending the specifics of any insurance agreement.