ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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. Most often, the policyholder is the one who is insured in the policy as well.

Detailed explanation-2: -A policyholder is a person who has an insurance policy with an insurance company.

Detailed explanation-3: -Policyholder is another way of saying “policy owner.” If you buy an insurance policy in your own name to insure your own stuff, you’re the holder of that policy: the policyholder. Policyholder is the same as named insured.

Detailed explanation-4: -A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured.

Detailed explanation-5: -Insured is the person who is covered against risk. On the other hand, the insurer is the company that is providing coverage. It is a service that an insurer provides under a particular insurance policy against a premium paid by the policyholder.