What does Guaranteed Renewable mean? Read on to discover the definition & meaning of the term Guaranteed Renewable - to help you better understand the language used in insurance policies.
Guaranteed renewable policy refers to a feature in the insurance contract that compels the insurance company to cover the policyholder regardless of the status of his or her health. The insurer raising the premium is the only modification that is allowed.
We hope the you have a better understanding of the meaning of Guaranteed Renewable.