Definitions for "Cancellable policy"
policy which may be cancelled by the insurance company during the effective policy period by giving advance notice and reason for cancellation to the Insured, in keeping with State requirements, and refunding the unearned premium.
An individual health insurance policy that can be terminated at any time by the insurer. See also conditionally renewable policy, guaranteed renewable policy, noncancellable and guaranteed renewable policy, noncancellable policy, and optionally renewable policy.----------[ Back
a policy that may be terminated by the company or the insured by proper notification sent to the other party according to the terms set forth in the policy