Policyholder
(redirected from policyholders)Also found in: Dictionary, Thesaurus, Medical.
Related to policyholders: Paid Up Policy
Policyholder
An individual who owns an insurance policy.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved