20 Basic Life Insurance Terminologies Every Policyholder Should Know

SUMIT ASRANI | December 13, 2017

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The life assured is the insured person. The life assured is the one for whom the life insurance plan is purchased to cover the risk of untimely death. Primarily, the breadwinner of the family is the life assured. Life assured may or may not be the policyholder. For instance, a husband buys a life insurance plan for his wife. As the wife is a homemaker, husband pays the premium, thus the husband is the policyholder, and wife is the life assured.

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