The general rule is that the only name or the first name listed on an insurance card is the subscriber for that insurance policy. In a situation where multiple people are listed on a card, the insurance subscriber is the first name listed. If each person is assigned an insurance card sequentially, then the subscriber with the lowest number is the insurance subscriber, i.e., they were listed first.
There are other confusing situations where you would be confused about who the subscriber of an insurance policy is, for example, in the case of parents and their children or family members or a case of employer and employee.
Usually, in parents and family members, the parent is the subscriber, and their children are dependents. So on this note, we can say that not everyone included in an insurance policy is the subscriber or owner of that policy.
Rather they are dependents of the subscriber and do not have the power to make changes to a policy. So, for example, if your insurance is through your employer, the employee is the subscriber.
Other Resources For Identifying And Insurance Subscriber
Your insurance ID card is the number one stop for identifying the insurance subscriber on an insurance policy. But what if you don’t have your insurance card, or you are still unsure who the subscriber is?
Luckily, you can consult other resources if you are unsure who the insurance subscriber on a policy is.
Insurance Declaration Page/ Policy Declaration Page
Your insurance declaration page is a document that acts as proof of your insurance. On it, you can find all sorts of vital information such as your policy number, what type of policy you are under, and what your policy covers. In addition, you should be able to get a hint or a clear answer on who the insurance subscriber on a policy is from your insurance declaration page.
The Internet
The internet has made it easy to access all sorts of information with the touch of a button. For example, many insurance companies have online databases accessible to their policyholders via their websites.
With the right information, you can log into this database and see who the insurance subscriber on your policy is without any hassle.
Company Contact Centre
For some, this may be the easier option; after all, the call center or customer care department of any company is to help you with any inquiries or challenges you may be facing.
Depending on which is preferable for you, you can reach out to your company’s contact center via phone call, email, or an in-person visit.
Your insurance declaration page should contain information on how you can reach out to your company should you have any questions you need to be answered.
Once you’ve been able to satisfy the call center agent that you are a policyholder in their establishment, they should have no trouble telling you who the insurance subscriber on a policy is.
Who Is An Insurance Subscriber?
An insurance subscriber also referred to as a policyholder or policyholder is the one who makes premium payments on insurance policy. In the real sense of things, they are the ones subscribing or buying into the insurance policy, so technically, they are the owners of the insurance policy.
Why Is It Important To Know Who The Insurance Subscriber Is?
Multiple people can be listed under an insurance policy. In this case, there is an insurance subscriber, and the other persons are their dependents. So why is it important to know who the insurance subscriber is?
Remember that we mentioned the subscriber is the owner of the policy. This means they have the power to make changes to the policy if they see a need to. Such changes could inconvenience you if you are not consulted first and do not know who to meet.
In another instance, you may want to make changes to the policy you are under. But because you are not the policyholder, it is impossible to discuss and implement these changes with the insurance company. Hence, it is important to always identify your insurance subscriber.
Frequently Asked Questions
Is The Insurance Subscriber The Same Thing As A Policy Holder?
Yes, it is. The insurance subscriber is the same thing as the policyholder or policy owner. In essence, the company recognizes them as the direct beneficiary of a policy and the one who is allowed to make changes to their policy as they deem fit.
Can There Be More Than One Subscriber On An Insurance Policy?
Usually, the answer to this is no. This is because there can only be one policyholder at a time. A common exception to this case is that of joint life policies.
Some couples may wish to purchase a joint policy instead of separate policies. In such cases, we can say they are both owners of the policy. However, a more common phenomenon is that one person can own multiple policies.
Can A Child Be An Insurance Subscriber?
Minors cannot enter into legal contracts; hence they cannot be subscribers on an insurance plan. However, an adult can enter into a contract on their behalf. A clear example is a case of a parent listing their children as a beneficiary of their insurance plan.
Conclusion
An insurance subscriber also called the policyholder or policy owner enters into a contract with the insurance company. They own the policy and can make any changes to it when the need arises.
An insurance subscriber can also be defined as the one responsible for making premium payments in a policy.
Several resources such as your insurance ID card, policy declaration page, and online insurance account are available for you to determine who the subscriber of an insurance policy is.
Knowing who is the subscriber of the policy you are under makes it easy for you to communicate any concerns you may have with the policy and negotiate for changes.