Who is considered a 'policyholder' in the insurance context?

In the insurance context, a policyholder is the individual or entity who owns an insurance policy. This ownership means they have the rights and responsibilities outlined within the policy document, such as the ability to make changes to the policy, file claims, and exercise any options or benefits provided under the policy terms. The policyholder is typically the person whose life or property is covered by the insurance, and they are responsible for maintaining the policy, including paying the premiums. This role is distinct from that of an agent, who facilitates the sale of insurance, or an underwriter, who assesses the risk associated with providing coverage. The definition highlights the direct relationship a policyholder has with the insurance contract, signifying their ownership and the rights that accompany that position.