What role does a "policyholder" have in an insurance transaction?

In an insurance transaction, the policyholder is the individual or entity that owns the insurance policy. This means that the policyholder has the rights and responsibilities associated with that policy, including making premium payments, receiving information about the policy, and filing claims when necessary. As the owner, the policyholder is also the one who benefits from the coverage provided by the insurance, such as financial protection against certain risks or losses.

Understanding the role of a policyholder is crucial for navigating the insurance landscape, as it clarifies who is entitled to receive benefits and who is liable for maintaining the policy. This ownership aspect distinguishes the policyholder from others involved in the insurance process, such as claim processors, insurers' representatives, or regulatory bodies, who do not possess the rights associated with the policy itself.