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Guaranteed insurability

An Insurance policy in which the Insurer is required to renew the Policy for a specified amount of time regardless of changes to the health of the Insured. The agreement requires that premiums are Paid on time and that the Insurer makes no changes except if a premium change is made for an entire Class of Policyholder. also called Guaranteed renewable or Conversion privilege or Convertible term insurance.

Related Terms: 20 Call, Class, Conversion, Convertible, Conversion privilege, Convertible term insurance, ECI, Guaranteed renewable, Guarantee, Insurance, Insurance policy, Insured, Insurer, Leg, Policy, Policyholder, Paid, RSI, Term, Term insurance
Other Related Pages: Category: Insurance Starting With: G
Semi Related Terms: 567 CLICK HERE TO VIEW