Policyholder

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Related to policyholders: Paid Up Policy

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 ?
Policyholders with significant damage who have a contractors itemized estimate may be eligible for a larger advance payment and should discuss this with the adjuster.
Upon indemnifying a policyholder for a loss, an insurer generally has the right to recoup its loss by pursuing recovery from other entities or individuals who may be responsible for the policyholder's damages in the first place.
Another problem for policyholders is posed by some forms of collateral agreements that fail to identify that the funds or assets are collateral posted by the policyholder.
When each risk can be either high or low, low-general-risk policyholders purchase insurance, while high-general-risk policyholders are self-insured.
The move will enable policyholders to benefit from any increase in the inherited estate's value, but the reattribution offer will not go ahead if it falls below pounds 1.
Biders such as accelerated death benefits allow terminally or chronically ill policyholders to get cash value out faster.
In some cases, however, the agreement is presented late in the negotiations for the insurance protection, leaving the prospect of the policyholder feeling like he or she has a gun to their head.
REFLECTIONS: Although the court acknowledged that insurance policyholder and records information is generally treated as goodwill, the agreement specifically precluded the agent's ownership.
First, part of the difficulty in forming a captive is establishing a large enough critical mass of policyholders with good loss and exposure data to establish actuarial confidence in the paredictability of outcomes for claims.
With respect to claims-handling concerns, there is simply not enough experience with this type of coverage to form an opinion as to what type of problems, if any, policyholders will face when a claim is submitted.
This section says that the term policyholder dividend means any dividend or similar distribution to policyholders in their capacity as such also must be satisfied.