Policyholder

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Policyholder

An individual who owns an insurance policy.

Policyholder

A person or (less commonly) an organization that has an insurance policy. The policyholder receives the specific types of coverage (life, health, etc.) stated in the policy, subject to the payment of premiums, usually on a monthly basis. It is important to note that a policyholder does not make any legally enforceable promises when he/she takes out a policy. Specifically, the insurance company cannot legally compel the policyholder to pay his/her premiums; its only recourse is to stop coverage. On the other hand, the policyholder can force the insurance company to provide coverage if it refuses to do so, provided he/she has in fact paid premiums.
References in periodicals archive ?
For example, policyholders have superior information about whether or not they are smokers, but health insurers may have superior information about how smoking affects the health condition of a policyholder or better understanding about the results of a health examination.
With whole life, policyholders don't direct where the money goes; the insurer chooses the stock investments.
Policyholders can try to control the risk by negotiating dispute resolutions that are more palatable, or they can simply avoid the risk by purchasing insurance from an insurer that does not require one-sided dispute resolution agreements.
The premiums charged by captives are not market driven (some policyholders suspect that the insurance industry is overcharging current premiums to cover prior years' shortfalls; to recover those losses as quickly as possible), but rather are actuarially driven by analysis of the captive participants' financial situations.
Other principal concerns of M&A insurance policyholders are the delays that the underwriting may cause in closing the deal and the insurance company's claims-handling practices, which may jeopardize recovery.
Mercer policyholders have sent a strong message to Mercer's Board to consider the Franklin proposal," George H.
UNUM argued that the term policyholder dividend includes any distribution that fits literally within the language of section 808 (b)(1).
Again, policyholders must look out for their own interests because no one else will
The distribution of the funds should come this spring as either checks to the policyholders or adjustments to their accounts, according to a spokesman for regulators overseeing the Executive Life assets.
1991), vapors were released by the material (styrene monomer resin) with which the policyholder resurfaced the floor of a Perdue chicken processing facility.
Three out of four Plan projections submitted by OCI show that policyholders in the Segregated Account would not be paid in full.