BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Insurer
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Insurance Company
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Policyholder
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Beneficiary
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Detailed explanation-1: -Insurance is a legal and financial contract that involves two parties. One party proposes to cover for you or your property and the other purchases it. 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.
Detailed explanation-2: -Policyholder. The person who purchases or owns an insurance policy.
Detailed explanation-3: -Beneficiaries Of Insurance Policy Are ‘Consumers’ Even If They Are Not Parties To Contract Of Insurance: SC [Read Judgment] “They are the consumers not because they are parties to the contract of insurance but because they are the beneficiaries of the policy taken out by the insured."
Detailed explanation-4: -A policyholder is the person who has purchased and owns an insurance policy.