An individual health insurance policy that requires the insurer to renew the policy—as long as premium payments are made—at least until the insured attains a specified age. The insurer can change premium rates for broad classes of insureds but not for an individual insured. Contrast with noncancellable and guaranteed renewable policy.
An individual health insurance policy that specifies that the insurer will continue the policy until the insured reaches a specified age if premium payments are made when due. The insurer can change premium rates for broad classes of insureds. Skip alphabetic navigation to H
A policy that guarantees the insured may renew the policy up to a specified age, or for life, as long as the insured pays the premiums. The insurance company may increase the premiums on guaranteed renewable policies for all policies of that particular type, but may not increase the premium for any individual policy.