Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as

The correct answer is: A. A creditor.

A creditor is a person or entity to whom money is owed. In the case of a life insurance policy, the creditor is the person or entity who will receive the death benefit if the insured person dies. The master policyholder is the person who owns the policy and is responsible for making the premium payments. In this case, Raunak is the master policyholder, so he is the creditor.

The other options are incorrect because:

• A debtor is a person or entity who owes money. In the case of a life insurance policy, the debtor is the insured person.
• An employee is a person who works for another person or entity in exchange for wages. In the case of a life insurance policy, the employee is not the master policyholder.
• An employer is a person or entity who employs another person or entity. In the case of a life insurance policy, the employer is not the master policyholder.