Simple English definitions for legal terms
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A policyholder is someone who owns an insurance policy. This means they have an agreement with an insurance company to protect them from certain risks, like getting sick or having their car stolen. The policyholder is the person or entity that the insurance policy is issued to, as stated in the certificate of insurance.
Definition: A policyholder is a person or entity that owns an insurance policy. They are also known as a policy owner. When someone enters into an insurance policy with an insurance company, they become the policyholder. The certificate of insurance will state who the policyholder is.
In both examples, the individuals or entities who purchased the insurance policies are considered policyholders. They are the ones who own the policies and are responsible for paying the premiums to keep the policies active. If a claim is made, the policyholder is the one who will receive the benefits of the policy.