It is inherent in the human being to want stability and security. That is where insurance comes into play, as it allows us to be compensated for the economic consequences of a loss.

Who is involved in insurance, as in any contract, there are different types of people? Not only can there be two parties to the agreement, but more often than not there are more figures. The insurance buyer - called the policyholder - goes to the insurer - which is usually an insurance or insurer - to hire and pay for it. The insurer assumes the risk in question and therefore charges a premium or fee. So far all normal. But there are two types of figures that can intervene in insurance: the insured and the beneficiary.

The insured is the person who is exposed to the risk and that the rights of the contract corresponding to receiving the compensation. The policyholder may have contracted insurance to a prospective person to cover a risk.

But there may still be another type of profile that is part of the insurance, the beneficiary. This is designated by the policyholder to receive the compensation agreed in the contract. The beneficiary usually has a personal or economic link with the policyholder or the insured, although there may also be no such link. An example is found in life insurance since the death of the insured causes the beneficiary to be the one who covers the compensation.

As you can see, two or more people come into play in the insurance contract. The policyholder, the insured and the beneficiary of the insurance may be the same person or three different persons.

Do you want us to be more serious and comprehensive in the definition? As the Insurance Contract Law in its article 1 says that an insurance is: "that contract for which the insurer is bound by the collection of a premium and in the event that the event whose risk is covered, To indemnify, within the agreed limits, the damage caused by the insured, or to satisfy, within the agreed limits, the damage to the insured, or to satisfy a capital, an income or other agreed benefits.

A policy is a document that certifies the insurance contracted between the policyholder and the insurer. It is a unique contract for each of the insured where the general conditions and the particular conditions appear.

The general conditions are the same for all insurances of the same branch. Usually include the extent and purpose of insurance, risks that are excluded, payment of compensation, obligations, and duties of the parties.

In the case of the particular conditions, and as it supposes, are those specific aspects of each policy with the special conditioners and that will differentiate them from the rest. Therefore, there may be many different policies, everything will depend on the needs of the contractor. For example personal data, the risk to be insured, premium payable, specific coverage.