Legal Definitions - assured

Definition: Assured refers to a person who is protected by an insurance policy against any loss or damage mentioned in the policy. The terms "insured" and "assured" are often used interchangeably in the context of insurance.

• John purchased a car insurance policy from XYZ Insurance Company. He is the assured in this case, as he is protected against any loss or damage to his car mentioned in the policy.
• When Sarah bought a life insurance policy for her husband's life, she became the assured, and her husband became the insured. This is because Sarah is the person for whose benefit the policy is written and to whom the loss will be payable.

These examples illustrate how the term "assured" is used in the context of insurance. In both cases, the person who purchased the insurance policy is protected against any loss or damage mentioned in the policy, and is therefore referred to as the "assured".