A person refers to an individual human being, with a unique personality, identity, and physical appearance. In the financial industry, the term person is critical in many areas, including banking, insurance, and investment.

In banking, a person may refer to a customer who holds a bank account or avails of other banking services. Banks have to adhere to know-your-customer (KYC) norms, requiring them to verify the identity of their customers and maintain updated information about them.

In the insurance industry, a person may refer to an individual seeking insurance coverage for health, life, property, or other assets. The insurance company evaluates the person's risk profile based on various factors like age, gender, occupation, health, and lifestyle before deciding on the premium.

In investment, a person may refer to a potential investor or a client with whom a financial advisor interacts to provide investment advice and manage their portfolio. The advisor evaluates the person's investment goals, risk tolerance, and financial capability before recommending investment products that suit their needs.

Overall, the term person is crucial in the financial industry as it represents the end-customer for whom all the financial products and services are designed and delivered.