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 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--"
The well-rounded plan is designed to provide extra protection to the life insureds parents and children.
Continuous care protection: After the first claim of any major critical illness, offer the life insured additional coverage for two diagnoses of cancer, heart attack/ stroke and independent major critical illnesses (total 600% additional protection).
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.
Under a new program, called Health Measure Reward, the company aims to reward life insureds for maintaining a good weight for 20 years after policy issue.
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