Policyholder

The person or firm named on an insurance contract who owns the policy and pays the premium.

Also called policy holder, insured party.

The policyholder is the legal owner of an insurance contract. That person or company pays the premium, can make changes to the cover, and usually files claims. The person protected by the policy is not always the same as the person who owns it.

Key takeaways

Ownership of the policy sits with the policyholder, even if someone else is named as a life insured or beneficiary.
Only the policyholder (or an authorised agent) can cancel, assign or rewrite most contracts.
Keep contact details and nominee details up to date so claims are not delayed.
In group schemes at work, your employer may be the policyholder while you are the covered person.

Related terms

PremiumThe regular price you pay an insurer to keep a policy active and stay covered for the risks named in the contract.
Insurance ClaimA formal request to an insurer for payment after a loss that your policy says is covered.
Sum AssuredThe fixed amount a life or related policy promises to pay on a covered event such as death or maturity.
Life AssuranceInsurance that pays a benefit when the insured person dies, or sometimes at a set maturity date if they survive.

Policyholder in our reporting

Ethiopia Tightens Control Over Who Owns and Runs Insurers
Ethiopia’s 0.3% Insurance Trap: The Untapped Market Behind a Growing Economy