Asked by Lizbeilyn Ozoria on Jun 25, 2024
Verified
The beneficiary is another name for the insured in an insurance contract.
Beneficiary
An individual or entity entitled to benefits or assets under a will, trust, insurance policy, or other legal instrument.
Insured
A person or entity covered by an insurance policy.
- Identify the roles and obligations of the insured and insurer within an insurance contract.
Verified Answer
ZK
Zybrea KnightJul 02, 2024
Final Answer :
False
Explanation :
The beneficiary is the person or entity designated to receive the benefits from an insurance policy, while the insured is the person whose life or property is covered by the insurance policy.
Learning Objectives
- Identify the roles and obligations of the insured and insurer within an insurance contract.
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