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 ?
Moreover, because they pay these amounts, proactive policyholders, in an effort to be made as "whole" as possible, should be sure to maximize--through policy terms--their share of any recovery that the insurer obtains from the customer.
"However, it now must ensure no other policyholders were treated unfairly."
It was also confirmed that a total of PS9m has been paid to the estates of 5,760 deceased policyholders and others are continuing to be contacted.
not entrust its efficacy to the goodwill of its policyholders without an
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.
On the other hand, the policyholder noted that the IRS has stated that "for federal tax purposes, virtual currency is to be treated as property."
Even after the one year Proof of Loss deadline, policyholders will need to contact their NFIP flood insurance carrier to submit a Proof of Loss if the policyholder:
Best considers it can to lead to an uneven distribution of profits and increasing policyholder deficits.
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.
Furthermore, the SECP disposed of 75 complaints pertaining to insurance policyholders since July.
56% of the long-term care insurance policyholders with inflation protection have policies with no elimination period, or time when an insured needs and uses long-term care services before benefits payments begin.
The UK's Financial Services Compensation Scheme (FSCS) said on Monday that it has paid over GBP2m in compensation to former motor policyholders of Enterprise Insurance.