Insured : The person whose life is insured
Policyholder: The person responsible for paying premiums.
Note...insured and policyholder need not be same everytime.
Example...A father(policyholder) can take policy for his wife or children(insured)
Insurer: The company providing insurance benefits or selling policies.
Premium: The amount charged to policyholder for given policy.
Policyholder: The person responsible for paying premiums.
Note...insured and policyholder need not be same everytime.
Example...A father(policyholder) can take policy for his wife or children(insured)
Insurer: The company providing insurance benefits or selling policies.
Premium: The amount charged to policyholder for given policy.
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