Life Insured

Life Insured

Describing a person on whom a death benefit is paid. That is, when a life insured person dies, someone receives a death benefit. In general, the life insured person is the policyholder. However, some companies take out life insurance policies on employees and receive the death benefit when that person dies.
References in classic literature ?
You gotta take care of yourself, an' get your life insured, an' take out an accident policy, an' join a buildin' an' loan society, an' a buryin' association--"
Enhanced Income Potential will apply based on the Status attained by the life insured.
Life insurance companies are using the data from wearable devices like FitBit and Nike+ FuelBand to better assess the health of the life insured.
Exemption for specified micro insurance schemes has been expanded to cover all life micro-insurance schemes where the sum assured does not exceed Rs 50,000 per life insured.
Cases of mismatch in the name of the life insured in the application form and the linked bank account can also lead to delay in disbursal of the maturity benefit.
Comprehensive Accident Benefit Rider ensures additional protection and the benefits will be payable either on unfortunate death or dismemberment due to accident of life insured.
Max New York Life will fund all future premiums, on behalf of the life insured until policy maturity to boost the education fund thereby ensuring that the purpose for which the policy was originally purchased is accomplished.
Whole of life policies are designed to pay out a lump sum of money on the death of the life insured whenever that occurs, although some policies may pay out the full amount on the person reaching a certain age such as 85 or 95 years.
The only thing needed is the co-operation, at the outset of the policy, of the life insured.
To date, scarce detail has emerged as to how the rules are to be enforced, but one thing is for sure - a 30 per cent tax on life settlement profits would severely limit any return and indeed, on policies where the life insured is living longer than expected, may leave the buyer out of pocket," added Walters.
Investors buy the legal rights to the policy and pay premiums before making a return by collecting the entire death benefit of the policy upon the death of the life insured.
In addition to Coolidge, New York Life insured the lives of James A.