Insured Dictionary

by Life Insurance April. 30,2023
Insured Dictionary

An insured person refers to a person whose property or person is protected by an insurance contract and who has the right to claim a sum of insurance.


The insured, also called "insured", is the person covered by the insurance contract and has the right to request compensation from the insurer for damage or to receive insurance payments in the event of an accident. insurance or at the end of the insurance period. The insured may be a legal person or a natural person. In property insurance, the insured person is generally the insured person; in life insurance, if the insured person insures, the insured person is the insured person; if the insured person insures another person, the other person is the insured person.




Decide if the insurance contract is valid


In the life insurance contract, the contract with the death benefit as insurance premium and the amount of insurance are invalid without the written consent and approval of the insured.


Designate or change beneficiary


In the life insurance contract, the insured person has the right to name or change the beneficiary, and the insured person must name or change the beneficiary in advance to obtain the consent of the insured.


In some cases


The insured person is entitled to benefit from the insurance money. If the insured dies in accordance with the "Insurance Law", as long as one of the following circumstances exists, the insurance money is the estate of the insured and the insurance company performs the obligation to payment to the heir of the insured: the insured has no designated beneficiary; The beneficiary died before the insured, and no other beneficiary was named; the beneficiary lost the beneficiary's right or renounced the beneficiary's right in accordance with the law, and there was no other beneficiary.




The insured must meet the following conditions:


1. His property or his person are protected by an insurance contract.


2. Take advantage of the right to claim compensation.


To protect the interests of the insured, the Insurance Law clearly states:


1. When the insured is not the insured, the insured must designate or change the beneficiary without his consent.


2. For an insurance contract which requires death as an insurance premium, the policyholder must obtain the consent of the insured for the type of insurance and the amount of insurance. The insurance contract must also be approved and transferred by the insured. Otherwise, the insurance contract is invalid and the Transfers and pledges contract are also invalid. However, if the parents insure their minor children, they will not be subject to this limit, but the sum of the amount of death insurance will not exceed the limit set by the financial supervision service.




1. The obligation to inform sincerely before taking out insurance;


2. The obligation to notify the insurance company as soon as possible after knowing the insurance accident;


3. Obligation to provide evidence and documents related to insurance accident claims;


4. The occupancy of the insured changes or the risk factors of the object of insurance increase or decrease the obligation to notify.


The insured also has the obligation to notify the increase in danger, the obligation to notify insurance accidents, the obligation to prevent disasters, to prevent damage and rescue, and the obligation to provide the relevant certificates, documents and materials.


When the insurer exercises the right to subrogate insurance (i.e. when the insurer exercises the right to seek compensation from a third party who causes damage on behalf of the insured), the insured is forced to lend assistance.


insurance contract


The person who has the right to claim insurance money. The insured may be the insured.


The insured is one of the main bodies of the insurance contract. A related part of the insurance contract with the beneficiary


In property insurance, the insured may be the same person as the insured. If the insured and the insured are not the same person, the property insurance insured must be the owner of the insured property, or the manager of the property, or a person who has a direct interest in the property, otherwise it cannot become an insurance of the Insured property.


In life insurance, the insured person can be the insured person, then the insured person and the insured person have an administrative affiliation or an employment relationship, or the insured person and the insured person have a creditor right and a relationship debt, or the insured person and the insured person exist. Legacy, maintenance, upkeep or guardianship relationship recognized by law, or the insured and the insured have a gift relationship, or the insured is the spouse, parent, child or any other person recognized by law.