Which of the following best describes a 'Certificate Holder' in an insurance context?

A 'Certificate Holder' in an insurance context typically refers to an individual who is covered under a group insurance policy but does not own the policy themselves. This individual receives a certificate of coverage from the insurance company, which outlines the benefits, coverage details, and terms specific to their participation in the group plan.

In group insurance scenarios, the policy is generally owned by the employer or organization, and the certificate holder is the employee or member who is granted coverage under that policy. This distinction is important because it emphasizes that the certificate holder has access to the benefits provided by the group policy without being the policy owner.

The other roles mentioned, such as a policy owner, annuitant, or beneficiary, have different meanings and functionalities within the insurance framework. For instance, the policy owner has all the rights and responsibilities of the policy, an annuitant is someone who receives payments from an annuity, and a beneficiary is designated to receive benefits upon the death of the insured. Each of these roles serves distinct purposes in the realm of insurance, highlighting why the definition of a certificate holder specifically relates to the coverage aspect within a group policy structure.