Definition of «policyholder»

A policyholder is an individual or entity that holds an insurance policy. This could be a person, business, organization, or other legal entity that has entered into a contract with an insurer to receive coverage for specified risks in exchange for payment of premiums. The term can also refer to the person who owns and pays the premium on a life insurance policy, which is typically the beneficiary of the policy. In general, a policyholder is anyone who has entered into a contract with an insurer to receive coverage under an insurance policy.

Usage examples

  1. The policyholder must regularly pay their insurance premiums to maintain coverage.
  2. The policyholder can submit a claim to the insurance company for reimbursement of medical expenses.
  3. The policyholder should review their policy documents to understand the coverage limits and exclusions.
  4. The policyholder has the right to cancel their insurance policy at any time, subject to certain conditions.
  5. The policyholder can add additional beneficiaries to their life insurance policy.
  6. The policyholder is responsible for notifying the insurance company of any changes in their personal information, such as address or marital status.
  7. The policyholder can contact their insurance agent or customer service department for any inquiries or assistance.
  8. The policyholder may need to undergo a medical examination if required by the insurance company for certain types of policies.
  9. The policyholder should notify the insurance company promptly after an accident or incident that may result in a claim.
  10. The policyholder can review and update their insurance coverage based on changes in their circumstances, such as a new car or a home renovation.

Phrases with «policyholder»

Sentences with «policyholder»

  • We could take a sample of policyholders for the ages 30 and 40, the sum assured is Rs 1 crore for a term of 20 years. (policyx.com)
  • The other types were developed for policyholders who did not like the idea of paying a premium for decades never to receive anything in return. (lifeinsurancebyjeff.com)
  • If policyholder dies in an accident, this rider brings an additional sum along with the basic sum assured under the policy. (easypolicy.com)
  • (see all sentences)
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