Glossary

Policyholder

Also called proposer.

The person who owns the policy and pays the premiums.

The policyholder holds the contract with the insurer. They are usually also the life assured, but not always — a person can take out a policy on someone else’s life where an insurable interest exists.

The policyholder makes changes to the policy, such as updating a nominee.

Related terms

  • Life assured The person whose life is covered. A claim arises on their death.
  • Nominee The person you name to receive the payout on a death claim.
  • Insurable interest A recognised financial stake in the continued life of the person being insured.

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