Who is proposer and who is life insured in health or life insurance?
When we fill the form to buy insurance we see two common names proposer and life assured. These two are confusing terms.
Proposer and life assured need not be the same person.
Proposer is the person purchases the policy and pays the premium.
life insured is a person whose life is being insured.
Suppose I am buying health insurance for my parents then I will be proposer and life assured are my parents.
As I am proposer in the policy I will be getting tax benefits.
My parents will be life insured whose life is being insured.
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