The policy owner and the insured are usually the same person, but there are some instances where they may be different. The policy owner is the person who owns the insurance policy and is responsible for paying the premiums. The insured is the person who is covered by the policy and is the one who will receive the benefits if a claim is made. In some cases, the policy owner and the insured may be different people. For example, if you have a life insurance policy on your spouse, you are the policy owner and your spouse is the insured. If you have a car insurance policy, you are the policy owner and the person who is covered by the policy is the insured.