My understanding is that the terms “
insured” and “
assured” are generally used interchangeably, but strictly speaking the term “
insured” refers to the owner of the property
insured or the person whose life is the subject of the contract of
insurance, while “
assured” refers to the person for whose benefit the
insurance is granted.
Assured in essence means protected against discontinuance or change, i.e. "an assured tenancy" - guaranteed / certain / sure or secure.
But I am open to correction as to how it may apply to investments in Care Homes
.