As a starting point for this article, it is important to remember, perhaps once again, what an insured is, whose definition explains that it refers to the name by which the natural or legal person or persons who are holders of contracts or insurance policies. Thanks to this protection, policyholders enjoy peace of mind and are unconcerned about possible fatalities that may be incurred against their integrity or property, in exchange for a fee or premium that will be paid to an insurance company.
In the case of life insurance, it will be a third person designated by the insured, who will be responsible for receiving the indemnification or compensation.
Knowing more about the insured
1.The insured is the person who normally carries the risk that the policy deals with and who is in charge of fulfilling the obligations related to the contracting of the insurance in particular.
Similarly, there are times when the person who takes out the insurance (also known as the policyholder) may be a person other than the insured. An example of this is the case of a mother who takes out auto insurance for her child, where the former will be the policyholder and the latter will be the insured as he may be at risk in the event of an accident or damage to the automobile.
2. There are cases in which it is strictly necessary for the insured to be a natural person, as in those insurances that cover personal risks, such as accident or life insurance. The rest of the modalities, related to contracts of patrimony or responsibility, it is possible that the insured has the legal formula of legal entity.
3. The insured assumes the obligation and responsibility to periodically pay the installments or premiums that the insurance company requires in exchange for the protection granted by the insurance policy. It is important to note that prior to contracting the insurance, the insurance company will perform a risk calculation, to establish based on this, the amount to pay and if it is feasible to grant the insurance.
4. The insured person must meet a series of requirements, among which we find:
- Notify the insurer if a claim occurs.
- State what are the damages suffered.
- Make known other types of circumstances related to the fact.
It is important to remind you of the importance of being backed by an insurance company, since it will not only watch over our assets but also our integrity, health and life. Life is unpredictable, and what better way to rest easy than to have insurance for ourselves and our family?
What is the cost of insurance? Cheaper than the cost of not having it.
At LISA we do not stop innovating, we equip traditional insurers with technology in order to guarantee them automated, safe and efficient processes.