Insured refers to a generic term that indicates any entity or a person who will receive the benefit under the insurance policy after the occurrence of loss. The claim is paid to benefit the insured against the financial losses suffered.


In a life insurance policy, a person is the insured who will get financial benefit on maturity on the survival of the policy term. If the insured passes away during the policy term, the nominee of the insured (declared at the inception of the policy) will receive the sum assured as the death benefit.

Insured can be either the same or different person from the policyholder but the benefits are paid to the insured only. Insured is the person whose financial interest is protected by the insurance policy.


Pulkit bought a savings plan to create a huge fund for his retirement years. After paying the premium for several years, Pulkit survived the policy term. At the maturity of the policy, Pulkit received sum assured +loyalty additions +accrued bonuses as he was the insured under the policy.