The Insured in the life insurance policy is the person whose life is being insured. If the Insured person would pass away, the policy would pay the death benefit to the person or persons named as the beneficiary.
The Insured will often own his/her own policy, but the Insured and Owner can be two different people. The Owner gets to choose the beneficiary and make changes to the policy.
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The Insured will often own his/her own policy, but the Insured and Owner can be two different people. The Owner gets to choose the beneficiary and make changes to the policy.