Definitions for "Policyowner"
The person who has the right to make changes guaranteed by the policy. The policyowner may or may not be the person covered by the insurance policy.
The policyowner is the person who has taken out the life insurance policy. It should be noted that the policyowner and the insured are not always the same. It is possible to take out a life insurance policy on someone else's life.
An individual with an ownership interest in an insurance policy.