1) Insured 2) Like life and health 3) Suited for safeguarding 1) Insured 
• (a.) Capable of being insured against loss, damage, death, etc.; proper to be insured.
In·sur'a·ble adjective [ From Insure .] Capable of being insured against loss, damage, death, etc.; proper to be insured. « The French law annuls the latter policies so far as they exceed the insurable interest which remained in the insured at the time of the subscription thereof.&#...
adjective capable of being insured or eligible to be insured
capable of being or proper to be insured, as against loss or harm.