In insurance, who is considered the policyholder?

The policyholder is defined as the individual or entity that pays the premium for the insurance policy and is covered under its terms. This means they have ownership of the policy, which includes rights and responsibilities associated with it, such as the ability to file claims, make changes to the policy, and ensure it remains active by maintaining payments.

In contrast, the insurance company is the entity that creates, underwrites, and funds the policy but does not hold any ownership rights over it. The agent's role is to facilitate the sale of the policy and assist the policyholder with their insurance needs, but they do not themselves hold the policy. Lastly, the beneficiary, who is designated to receive benefits upon the occurrence of a covered event, does not hold the policy; they merely benefit from it. This relationship underscores the significance of the policyholder's role in the insurance process.