Life Insured

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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 periodicals archive ?
A great example is John Hancock Insurance's emerging premium discount program offered to term and universal life insureds in exchange for allowing the company to track the insureds' healthy habits with a swipe of a gym card or a smartphone app.
The company's group life insureds typically enter their accounts with a personal user ID and password or a secure single sign on from their employers' sites.