policyholder
(1) The company or
organization that owns a group insurance contract (called the group
policyholder in Canada). The policyholder of a group insurance
contract does not have the same ownership rights under the contract
that a policyowner has under an individual contract. (2) In Quebec,
the owner of an individual life insurance policy (called the
policyowner in the United States and the insured in the rest
of Canada). Also
sometimes called
the owner in Quebec. (3) Often used interchangeably
with policyowner.
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