Participant (policyholder)

A participant, or policyholder, is the person who owns an insurance policy. They pay premiums to the insurance company in exchange for coverage that can help protect them financially against specific risks, such as illness, accidents, or property damage. The policyholder has rights outlined in the policy, including making claims if a covered event occurs. Essentially, they are the individual or entity that enters into the insurance agreement and benefits from the protection provided by the policy.