Who is considered a Policyholder?

A policyholder is identified as the person or entity that owns an insurance policy. This definition encapsulates the individual or organization that has entered into a contractual agreement with an insurance company, thereby obtaining coverage under that policy. The policyholder assumes the responsibility for paying premiums and holds the rights to benefits under the policy, making them the key party in any insurance transaction.

In contrast, simply being interested in purchasing insurance does not confer the status of a policyholder, as no actual contract or coverage exists until a policy is purchased and issued. Individuals who have filed claims may or may not be policyholders, as not every claimant is necessarily the owner of the insurance policy related to the claim. Lastly, while insurance agents represent clients and assist in the process of obtaining insurance, they do not themselves hold policies and therefore are not classified as policyholders. Thus, the definition of a policyholder is exclusive to those who hold the insurance contract itself.