How long does a beneficiary have to claim a life insurance policy

Who is life assured and proposer?

Life insurance policies have a policy owner, the insured and the beneficiary or beneficiaries. The “proposer” or simply “owner” is the person who has applied for the policy and is paying the premium on it (also called the policyholder).

Life Assured: It is the person who is covered under the insurance policy . Proposer: It is the person who pays the premiums of the policy. For example: If you have bought the policy for yourself, then you are both the Life Assured as well as the Proposer.

Someone who is assured is very confident and relaxed . He was infinitely more assured than in his more recent parliamentary appearances. Synonyms: confident, certain, positive, bold More Synonyms of assured. assuredness uncountable noun.

Life assurance = An agreement between a life assurance company and a policyholder ; in return for a payment (premium) from the policyholder, the company commits to pay someone or something (the beneficiary) upon the death of the person whose life is being covered (the life assured).