because you want to know who is the holder for the policy, and to see if the insurance is valid
policy holder
is it a policy holder?
The Policy Holder of a life insurance policy is the executor of the said policy.
no
Insured.
The holder is the owner, In the case of Life Insurance , the person paid is the beneficiary .
The person can be called Policy Holder,Insured, Life Assured as the case may be.
Technically, there is no insurance policy called as permanent life insurance. However, you can treat whole life insurance policy as permanent since the policy covered the whole life span of the policy holder and benefit is payable to nominee in the event of any eventuality of the policy holder.
Sum assured is the minimum amount payable by the insurance company in case of death of the policy holder. In such case the policy holder select the sum assured or coverage. Than it is mandatory for insurance companies to pay out this sum in case of the unfortunate death of the policy holder.
The excess is what the policy holder has to pay before the insurance company starts to pay. If excess is $100 Damage is $300 the policy holder gets $200.
In medical insurance, the policy holder of the policy is not automatically the guarantor of a step child. To become the guarantor of the child a formal adoption should have taken place, or the child can be added to the policy.