A life insurance policyowner was injured in an automobile accident which results disability income rider.
The owner of an insurance policy is known as the policy owner, who is typically the policyholder or insured.
Throughout the lifetime of the insured, the owner or policyholder is the one who is in charge of the policy. They have the option to cancel the policy, sell it, give it as a gift, or change the beneficiary of the death benefit if they so choose. Throughout the lifespan of the insured person, they have exclusive authority over the insurance.
The individual or entity enrolled with an insurance policy is known as the policyholder. The person who owns or is protected by an insurance policy is known as the insured. The recipient of the insurance proceeds from a life insurance policy or annuity is known as the beneficiary.
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