Who is referred to as a 'policyholder'?

A 'policyholder' is defined as the individual or entity that owns an insurance policy. This person or organization has the contractual rights to the policy, meaning they can make decisions regarding it, such as filing claims, altering coverage, or canceling the policy. The policyholder is responsible for paying the premiums associated with the insurance coverage they have selected and, in return, is entitled to the benefits outlined in the policy.

In contrast, a government agency or an insurance agent does not hold ownership or rights to the policy; they may be involved in the issuance or sale of the policy but do not benefit from it in the way a policyholder does. Similarly, a third party affected by the insurance may benefit from the insurance in terms of claims or coverage, but they do not have ownership or responsibilities tied to the policy itself. Therefore, the primary role and definition of a policyholder is specific to the ownership and management of the insurance policy.