A person who has been Insured by some insurance company, or underwriter , against losses or perils mentioned in the policy of insurance . Brockway v. Insurance Co. (C. C.) 29 Fed. 760; Sanford v. Insurance Co., 12 Cush. (Mass.) 548. The person for whose benefit the policy is issued and to whom the loss is payable, not necessarily the person on whose life or property the policy is written. Thus where a wife insures her husband’s life for her own benefit and he has no interest in the policy, she is the “assured” and he the “insured.” llogle v. Insurance Co., 6 Rob. (N. Y.) 570; Ferdon v. Canfield, 104 N. Y. 143, 10 N. E. 146; Insurance Co. v. Luchs, 108 U. S. 498, 2 Sup. Ct. 949, 27 L. Ed. 800.
Black’s Law Online Dictionary
