Life Insured definition

Life Insured means the person named in the Schedule, on whose life the Policy is effected;

Life Insured means the person whose life is insured under the Policy as shown in the Policy Schedule.

Life Insured means the person whose life is insured or assured under the Policy and is shown in the Policy Schedule.

Examples of Life Insured in a sentence

• The Policy will terminate upon death of the Life Insured and no other benefit under the policy shall be payable.

• PAYMENT OF BENEFITSThe benefit under the Policy shall be payable to the Claimant who will be either the Policyholder, Life Insured, Nominee(s), Assignee(s), Legal Heir(s) or a legal representative as declared by a Court of competent jurisdiction.Once the benefits under this Policy are paid to a Claimant, the same shall constitute a valid discharge of Our liability under this Policy.

• SUICIDEIn case of death due to suicide by the Life Insured, whether sane or insane, within 12 months from the date of commencement, the nominee shall be entitled to “Total Premiums Paid”, provided the Policy is in force.

• All Your rights and interests in the Policy shall cease when the Life Insured has attained 18 years of age and is alive whereupon the Life Insured shall become the policyholder of the Policy and only the Life Insured as new policyholder of the Policy can exercise all rights, entitlements and options provided under the Policy.

• In case of death due to suicide by the Life Insured, whether sane or insane, within 12 months from the date of reinstatement or revival, the nominee shall be entitled to higher of “Total Premiums Paid” or the acquired surrender value as on the date of death, provided the Policy is in force.

More Definitions of Life Insured

Life Insured means the person, as specified in Schedule, on whose life the Life Cover is effected and at whose death, the death benefit under this Policy will be payable.

Life Insured means the person named in the Schedule, who is also the policyholder, on whose life the Policy is effected;

Life Insured means the person named in the Schedule, whose life is insured under this Policy;

Life Insured means the person named as Life Insured in Policy Schedule 1 and also referred to as “Life Insured” or “he” or “his” in this Policy.

Life Insured or “Lives Insured” means the person(s) who has or have been insured by the Company under this Policy.

Life Insured means an individual on whose life the insurer issues a contract of insurance;

Life Insured means the person on whose life the Policy has been effected.