It is the basic concept of life insurance.
Life assured is a term that refers to the individual whose life is being insured through a life insurance policy. This fundamental concept lies at the core of understanding life insurance. It is crucial to recognize that the life assured is the person whose life is being financially protected in the event of their death. In simpler terms, they are the beneficiary of the life insurance policy. This understanding is essential in comprehending the various aspects of life insurance and its significance in financial planning.
