Which statement accurately defines 'named insured' in an insurance context?

The correct definition of 'named insured' refers to a person specifically identified in the policy. This designation is critical because it determines who is covered under the insurance contract and what protections are afforded. Being a named insured typically grants the individual rights and responsibilities tied to the insurance policy, such as the ability to file a claim.

In contrast, individuals falling under the other descriptors do not possess the same direct link to the coverage in the same way. For instance, while a person who can make coverage changes may have a role in managing the policy, they might not necessarily be a named insured. An insurance agent represents the insurance company and assists with policy details but is not a party to the contract itself. Similarly, beneficiaries are designated to receive benefits from the policy but do not have coverage as an insured party. Understanding the significance of the named insured helps clarify the rights and coverage stipulations within insurance policies.