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.
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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--"
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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