Which of the following best defines the term "policyholder"?

The term "policyholder" is defined as a person who owns an insurance policy. This ownership signifies that the policyholder has the rights and responsibilities associated with the policy, such as paying premiums and receiving the benefits outlined in the insurance contract. The policyholder is the legal entity entitled to make changes to the policy, file claims, and utilize the insurance coverage.

This understanding is key in the context of insurance, as it emphasizes the distinction between mere inquiry about insurance (which may apply to anyone considering coverage) and the actual ownership that comes with having a policy. A policyholder is also different from a client of an insurance agent, as the latter may not necessarily own a policy; they might simply be seeking advice or information about available insurance products. Thus, the best definition of "policyholder" is indeed the individual who possesses the policy itself.