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 ?
Glenn Pomeroy, CEA's CEO, noted that, starting July 1, premiums will be lower for about 75% of CEA policyholders, while 25 percent of CEA policyholders will see a premium increase.
For Texas flood insurance policyholders affected by Hurricane Harvey, these dates of loss are between August 24, 2017 and September 13, 2017.
Yvette Essen, director of research, said: "Driven by weak underwriting discipline and high wakalah fees, policyholders' funds continue to generate deficits, whilst shareholders' funds enjoy reasonable profits.
Max Life Insurance has the unique bonus policy where it offers three bonus options - Cash Bonus, Paid Up Additions (PUA) and Premium Offset, which the policyholders can choose to suit their specific needs.
62% of the policyholders without inflation protection have policies with no elimination periods.
A majority of courts have agreed that an insurer may not recover in subrogation unless the policyholder is fully compensated for its losses.
QIIC's distribution of surpluses back to policyholders, in line with its Takaful operating model, provides a competitive advantage over other market players.
When an insurer sells non-cancelable insurance, the insurer is essentially trusting the policyholder's credit management practices.
Not telling policyholders how to appeal a denial of claims.
accepts the argument that the policyholder breached this duty, the
FEMA has indicated that it would proactively try to reach policyholders who still have not responded, as well as allow some flexibility for policyholders beyond that deadline.