vakuutetussa

Vakuutettu refers to an insured person or entity in Finnish insurance terminology. It is the party who is covered by an insurance policy and who has the right to compensation in the event of a loss or damage as defined by the terms of the policy. The vakuutettu pays premiums to the insurance company in exchange for this protection.

In a life insurance policy, the vakuutettu is the person whose life is insured. If this person passes away, a designated beneficiary receives the death benefit. In property insurance, the vakuutettu is the owner of the property, such as a house or a car, that is insured against damage or theft. For liability insurance, the vakuutettu is the individual or organization that could be held responsible for causing harm or damage to a third party.

The rights and responsibilities of the vakuutettu are outlined in the insurance contract, known as the vakuutussopimus. It is crucial for the vakuutettu to provide accurate information to the insurance company when applying for coverage and to report any changes in circumstances that might affect the risk profile. Failure to do so could potentially impact the validity of the insurance or the payout of a claim. The vakuutettu plays a central role in the insurance relationship, as they are the direct beneficiary of the policy's protection.