What "policyholder" means in finance

A policyholder is an individual or entity who owns an insurance policy. They are the person who pays the insurance premiums to the insurer and is entitled to receive the benefits of the policy. Policyholders can be individuals, businesses, or organizations that purchase insurance coverage to protect themselves against financial losses due to unexpected events such as accidents, illnesses, natural disasters, or other unforeseen circumstances. The policyholder is also responsible for complying with the terms and conditions of the insurance policy, including paying premiums on time and reporting any claims in a timely manner.