Ace the Alberta General Insurance Level 1 Exam 2025 – Insure Your Success Today!

A policyholder refers to the individual or entity that owns an insurance policy. This person or organization has entered into a contract with the insurance company and is responsible for paying the premiums. The policyholder has rights and responsibilities under the insurance agreement, including the right to make claims, receive benefits, and request changes to the policy.

The role of a policyholder is fundamental in insurance transactions, as it establishes the contractual relationship between the insured and the insurer. This fundamental understanding is critical because it defines who is entitled to the coverage and the protections offered by the policy.

In contrast, representatives of the insurance company, third-party beneficiaries, and claims adjusters serve different roles and do not own the insurance policy; they may assist in administration, claims processing, or evaluation but do not hold the policyholder rights inherent to the agreements with the insurance provider.