Business Studies

The person whose life is insured is called the assured.


ANSWER

True


SOLUTION
True 
The person whose life is insured is called the assured as he is given an assurance by the insured or the insurance company that after a specified period or after his death he or his legal heirs shall be paid the fixed amount for which he has taken the life insurance policy. However, the assured needs to pay the premium regularly.
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TRUE/FALSE Medium Published on 18th 08, 2020
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