Who is defined as a "policyholder"?

The term "policyholder" specifically refers to the individual or entity that owns an insurance policy. This person or group holds the rights associated with the policy, including the right to make changes to it, cancel it, or file claims under it. Being the owner, the policyholder is responsible for paying the premiums, but it is not exclusive to those who simply pay the premium without having ownership.

The role of an insurance agent is different, as agents facilitate the sale and management of the policy but do not own it. Similarly, the beneficiary is named in the policy to receive the benefits upon a covered event, such as death in life insurance, but does not have ownership rights over the policy itself. Therefore, defining the policyholder as the owner captures the essence of their rights and responsibilities concerning the insurance coverage.