An insurer is a company that sells insurance .
Insured is the person who is covered against risk. On the other hand, the insurer is the company that is providing coverage . It is a service that an insurer provides under a particular insurance policy against a premium paid by the policyholder.
The insurer is the one doing the insuring; they issue the policy and pay the claims . The insured is the person (or people) that the policy is covering; they buy the policy and receive money from claims.
If you are the policyholder, your name will be on the card . If you have dependents—like a spouse or children—on your health insurance policy, their names might be listed on your card, too. If you are not the policyholder, then your card may show your name and the policyholder's name in separate fields.
A policyholder can buy life insurance to insure someone else. For example, a wife can purchase a term life insurance policy with her husband as the insured and name her adult son and herself as the beneficiaries . As policyholder, she controls the life insurance policy.
Opposite of one who insures. client. customer . insured . insuree .
a person or company that contracts to indemnify another in the event of loss or damage ; underwriter. a person or thing that insures. a person who sells insurance.
Name of the insured: If you are the policyholder your name will appear here . If one of your family members is the main policyholder it will have their name above yours. Member ID Number: identifies you, the insured.
Well-known life insurers include Northwestern Mutual, Guardian, Prudential, and William Penn . Property and casualty companies insure against accidents of non-physical harm. This can include lawsuits, damage to personal assets, car crashes and more.
In this page you can discover 15 synonyms, antonyms, idiomatic expressions, and related words for insurer, like: insurance-company, underwriter, insurance firm, insurance underwriter, lender, policyholder, employer, insurance-policy, borrower, broker and reinsurer .
What is the difference between the policyholder and the insured? The policyholder controls the policy, while the insured is the person whose death prompts the death benefit payout . They are usually the same person in a life insurance policy, but can occasionally be different people.Dec 9, 2021
An insurer is the company responsible for paying claims under a contract of insurance . An insurer provides insurance policies, while an insured is protected by those insurance policies.