Someone owns the contract and pays the premium. The policyholder is the person or entity that holds the insurance policy and is identified as such in the declarations. The policyholder may or may not be the same as every insured person covered by the policy.

Rights to cancel, change beneficiaries, or select options usually rest with the policyholder. In life insurance the policyholder may be different from the insured life. In commercial insurance the named insured on the declarations is typically the policyholder entity.

Correspondence, renewal offers, and claims checks are generally directed to the policyholder. Keeping contact information current ensures that important notices arrive in time. Understanding who holds the policy rights avoids confusion when several related parties appear in the coverage schedule.

• Owner of the insurance policy
• Holds contractual rights to change or cancel
• May differ from other insured persons
• Receives notices and official correspondence