Difference between Insured and Assured

Dear student,

Insured refers to the subject matter of insurance policy. It refers to a person or a property on whose name an insurance policy is taken.
Assured refers to the person for whose benefit an insurance policy is taken.
For example- A husband takes life insurnace policy for his wife, here wife is insured as in her name policy is taken while husband is assured as he is the beneficiary.

Regards