Definitions for "Guaranteed renewability"
Federal law prohibits insurance companies from canceling a business' insurance because someone in the firm becomes sick.
Policy provision assuring continued insurance coverage for the insured's lifetime as long as he/she continues to pay premiums. The insurer may raise premiums in the future; however, if the claims experience for the insured's peer group of policyholders is unfavorable.
A feature in health plans that means your coverage cannot be canceled because you get sick.