What is the difference between policy owner and insured?

What is the difference between policy owner and insured?

The Life Insured is the person whose life is covered. If this person dies, or suffers anything else that qualifies for a claim such as a terminal illness, a claim will be paid. The Policy Owner is the person who receives the money from the claim. The Policy Owner may be the same person as the Life Insured. Jul 16, 2019