Answer-What does the term 'insured' refer to in insurance?

Explanation The correct answer is B. The person or entity buying the policy. The insured is the individual or entity that purchases the insurance policy.

Question

What does the term "insured" refer to in insurance?

A The policy document holder

B The person or entity buying the policy

C The intermediary selling the policy

D The reinsurer involved in the contract

E None of the above

Practice Next

More Insurance Awareness Questions

What will come in place of the question mark (?) in the following series?

80, 83, 88, 95, 106, ?
What will come in place of (?) Question mark in the given number series.

500, 489, 467, 434, 390, 335, ?
945, 1890, ?, 504, 144, 32
8, 12, 20, 32, 52, ?, 136
6, 7, 15, 46, 185, ?
1221, 1100, 1000, 919, ?
...
1029, 1030, 1039, 1064, ?, 1194
38, 41, 50, ?, 158, 401
18, 21, 45, 138, 555, ?
9 10 36 333 ? 132825
...

What does the term "insured" refer to in insurance?

Solution