What is a "policyholder" in the context of insurance?

A policyholder is defined as the individual or entity that owns an insurance policy. This person or organization is responsible for paying the premiums associated with the policy and has the right to receive the benefits provided by that insurance contract. The policyholder has certain rights and responsibilities, including the ability to make changes to the policy and to file claims in the event of a loss.

Understanding the role of the policyholder is crucial, as they are central to the contractual relationship between the insured and the insurer. The policyholder's identity is necessary for determining who is entitled to benefits and who has the authority to modify the coverage or cancel the policy.

In contrast, an insurance agent's role is to facilitate the sale of policies but does not grant them ownership of the policy itself. The insurer is the company providing the insurance coverage and is also distinct from the policyholder. The beneficiary, while they may benefit from the policy, does not own it unless they are also named as the policyholder. Therefore, the definition of a policyholder in insurance is strictly limited to the entity holding the policy.