Who are policyholders without an active agent considered to be?

Policyholders without an active agent are referred to as orphan policy owners. This designation typically applies to individuals who hold life insurance policies but do not have a current agent handling their account. This situation may arise if their previous agent has retired, left the industry, or switched companies.

Recognizing these individuals as orphan policy owners is important for insurance companies as they may require outreach and support to ensure policyholder needs are met, particularly if they need assistance with claims, policy adjustments, or have questions. Insurance companies often implement programs to engage orphan policy owners to encourage them to connect with new agents or to facilitate the service of their policies.

The other terminology mentioned in the options pertains to different categories of policyholders, which do not accurately describe those without an active agent. For example, group policy owners typically refer to an entity, like an employer, that holds a policy covering a group of people rather than individual policyholders. Inactive policyholders suggest a more general state of non-engagement but does not specifically relate to the absence of an agent. Renewal policy owners may refer to those involved in policy renewals, which is also not applicable to those who lack an agent relationship. Hence, orphan policy owners is the most accurate term for describing this particular group