Everything you need to Know about Policyholder in Life Insurance

What Is a Policyholder in Life Insurance?

How to Select Life Insurance Coverage for a Policyholder?

Types of Policyholders in Life Insurance

How to Change a Policyholder in Life Insurance?

Understanding Policyholder Vs Insured Vs Beneficiary

FAQs About Policyholders in Life Insurance

Is the policy owner the same as the policyholder?

You are a policyholder if you own a life insurance policy or an insurance contract. They are also known as policy owners.  Also, you might own a policy with someone else’s name as the insured.

What happens if the policyholder dies before maturity?

If the policyholder dies before maturity, then for a certain period, the beneficiary can collect an amount equivalent to their premium payments. However, if the beneficiary fails to collect this sum within the stipulated time frame, the sum will be forfeited.

What is the difference between policyholder and beneficiary?

The policyholder is the person who owns the policy and pays back life insurance premiums. However, the beneficiary is the person who is responsible for collecting the death benefits after the insured person dies.

Can a policyholder nominate anyone?

Yes, a policyholder can nominate any person as a nominee, provided they are not limited to blood relations.