what do contract sponsor and contract holder mean? Thanks. I have looked all over...

[wake.up.america]

for a translation I am doing. I just need a description. I do not know what it means in English.

Danke!

[cornermouse]

1. refdesk.com

financial dictionary

Contract Holder
An owner of a segregated fund contract.
Notes:
For example, for a life insurance contract, a person can be both the contract holder (owner) and the annuitant (the person the contract is based upon).
See also: Annuitant, Beneficiary, Life Insurance, Segregated Fund

Couldn't find a specific definition for contract sponsor, but I would suspect that a contract sponsor is the person who has the contract drawn up.

[wake.up.america]

2. Thank you

Thank you