Who is considered a policyholder?

A policyholder is defined as the individual or entity that owns an insurance policy. This role involves having the rights and responsibilities outlined in the policy agreement, which may include paying premiums, filing claims, and updating personal information. The policyholder is the primary party that benefits from the insurance coverage and can enforce the terms of the policy if necessary.

For example, if someone purchases a homeowner's insurance policy, that person is the policyholder, entitled to the coverage described in the policy. The ability to make changes to the policy, such as adding additional coverage or adjusting beneficiaries, typically falls to the policyholder.

In contrast, other roles such as insurance agents act on behalf of clients and do not own the policy, insurers are the companies providing the policy and have their own interests, while regulatory authorities monitor the industry to ensure compliance but do not own policies themselves.