BUSINESS ADMINISTRATION
BANKING AND INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Agent
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Salesman
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Broker
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Policyholder
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Detailed explanation-1: -The party which gives you Insurance is known as the ‘insurer’, the other is the policyholder. A policyholder is a person who has purchased the insurance policy. Thus a policyholder is the owner of the policy and is the name that goes into the records of the company.
Detailed explanation-2: -All insurance policies have a policyholder. A policyholder is the person who has purchased and owns an insurance policy.
Detailed explanation-3: -4) The proposer is the person who takes the cover and is also called the policyholder. The rights of ownership of policy lie with the proposer and he is liable to pay premiums.
Detailed explanation-4: -A person who fills out and signs a request for insurance coverage is usually referred to as the primary insured or applicant. This person is generally the intended policyowner and is listed as applicant on the premium due page after a policy is issued.