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.
A health insurance policy that continues in force and is renewed regularly as long as the premium is paid on time.
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. See also cancellable policy, conditionally renewable policy, noncancellable and guaranteed renewable policy, noncancellable policy, and optionally renewable policy.
The company guarantees that the insured may renew the policy 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 an individual policy. A qualified long-term care insurance contract must be guaranteed renewable.
The requirement your insurance company renews your policy at the end of a specified time if you choose to do so. Your insurance company may increase the premium rate for any class of guaranteed renewable policies. Also called non- cancellable policy.
A policy that the insured has the right to continue in force by the timely payment of premiums to a specified age (usually age 50), during which period the insurer has no right to make unilaterally any change in any provision of the policy while the policy is in force, but may make changes in premium rates by policyholder class.
An individual health insurance policy that the insurer is required to renew—as long as premiums are paid—at least until the insured attains the age limit specified in the policy. The insurer may increase the premium rate for any class of guaranteed renewable policies.
