Assured

In the UK the assured is a person (or people) who has entered into a life assurance contract with a life office and is the policyholder. The person on whose life the policy is taken out is known as the life assured. The assured and the life assured are often the same person but not always. In the US the expression 'insured' is used. On the death of the insured the face amount of the policy passes to the beneficiary.