Home Insurance Glossary - Noncancellable And Guaranteed Renewable Policy

The Definition of "Noncancellable And Guaranteed Renewable Policy" is:

An individual health insurance policy, which stipulates that, until the insured reaches a specified age (usually age 65), the insurer will not cancel the coverage, increase the premiums, or change the policy provisions as long as the premiums are paid when due. Also known as non-cancellation policy. Contrast with guaranteed renewable policy.



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