What is the Meaning of Policyholder? Definition & Importance

2025-06-16

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Insurance is a legal and financial contract that involves two parties. One party proposes to cover for you or your property and the other purchases it. The party which gives you Insurance is known as the ‘insurer’, the other is the policyholder.

A policyholder is a person who has purchased the insurance policy. Thus a policyholder is the owner of the policy and is the name that goes into the records of the company. Most often, the policyholder is the one who is insured in the policy as well. In types such as home insurance or vehicle insurance, these are the same.

But note that it is not necessary for a policyholder and the person insured to be the same. Both the insured and policyholder are related but can be different as well.

For example, if you have purchased a life insurance policy for your wife, then your wife will be the one insured but you will remain the policyholder.

Or if you have a business and you have taken insurance for your business partner.

In both these cases, both the insured and policyholder are related but not the same person.

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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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