The assured is the legal owner of the policy. They are the
person who applies for the policy and agrees to pay for the rights
under it. In some policies the assured is referred to as the
grantee or the policyholder. There might be more than one assured,
grantee etc. If the policy is assigned or placed in trust, then the
legal ownership passes to the assignee or the trustees of the
trust.
The life assured is the individual upon whose life payment of
the benefits under the policy depends. There might be more than one
life assured.
The assured and the life assured are often the same person
but need not be.
